Common use of General Consent Requirement Applicable to Transfers of Ownership Interests Clause in Contracts

General Consent Requirement Applicable to Transfers of Ownership Interests. Subject to the remaining provisions of this Section 9.2, a Member may transfer an Ownership Interest of the Company which he or she now owns, or which he or she may hereafter acquire, only with the prior written consent of all the other Members. A Member may transfer by gift all or a portion of his or her Ownership Interest to (a) a descendant of the transferring Member who is also a Member, (b) a revocable trust of which the Member is the sole lifetime beneficiary, without the prior written consent of other Members, provided the Trustee of such trust upon executes a copy of this Agreement and agrees, on behalf of the trust, to be bound by its terms. All other transfers shall be subject to the remaining provisions of this Article.

General Consent Requirement Applicable to Transfers of Ownership Interests. Subject to the remaining provisions of this Section 9.2, a Member may transfer an Ownership Interest of the Company which he or she now owns, or which he or she may hereafter acquire, only with the prior written consent of all the other Members. A Member may transfer by gift all or a portion of his or her Ownership Interest to (a) a descendant of the transferring Member who is also a Member, (b) a revocable trust of which the Member is the sole lifetime beneficiary, without the prior written consent of other Members, provided the Trustee of such trust upon executes a copy of this Agreement and agrees, on behalf of the trust, to be bound by its terms. All other transfers shall be subject to the remaining provisions of this Article.