Common use of Effective Date of Other Transfer Clause in Contracts

Effective Date of Other Transfer. In the event a transfer is made to a person who does not qualify as a substitute Member as provided in this Section 10, the Company shall incur no liability for distributions or allocations made in good faith to a predecessor-in-interest of that person until such time as the Managers shall have received written documentation which, in their sole discretion, verifies that the interest has been so transferred to that person.