Common use of Further Restrictions on Transfer Clause in Contracts

Further Restrictions on Transfer. In addition to any other restrictions on transfer in this Agreement or at law, no Member may Transfer any of its Units: (a) unless the Units are subsequently registered under the Securities Act of 1933 and any appropriate state securities laws (or unless the Company receives an opinion of counsel satisfactory to the Manager that an exemption from registration is available); or (b) if the Manager determines, in Manager’s reasonable and good faith discretion, that the Transfer may have an adverse effect on the Company.

Further Restrictions on Transfer. In addition to any other restrictions on transfer in this Agreement or at law, no Member may Transfer any of its Units: (a) unless the Units are subsequently registered under the Securities Act of 1933 and any appropriate state securities laws (or unless the Company receives an opinion of counsel satisfactory to the Manager that an exemption from registration is available); (b) if such Transfer would cause the tax treatment of the Company to change; or (bc) if the Manager determines, in Manager’s reasonable and good faith sole discretion, that the Transfer may have an adverse effect on the Company.