Forbidden Transfers and Assignments. A Membership Interest may not be transferred or assigned to a Related Company. A Related Company may, however, be admitted as an Additional Member.
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Samples: Limited Liability Company Operating Agreement (Charter Equipment Lease 1998-1 LLC), Operating Agreement (Advanta Business Services Corp), Limited Liability Company Operating Agreement (Charter Equipment Lease 1998-1 LLC)
Forbidden Transfers and Assignments. A Membership Interest may not be transferred or assigned to a Related CompanyCompany or a Benefit Plan Investor. A Related Company may, however, be admitted as a Substitute Member; provided, however, that the Board of Managers shall have received an Additional Member.opinion of counsel to the effect that such Related Company's
Appears in 1 contract
