Common use of General Provisions Relating to Transfer of Units Clause in Contracts

General Provisions Relating to Transfer of Units. (a) No Member may withdraw from the Company, other than as a result of a Transfer of all of such Member’s Units in accordance with this Article IV with respect to which the Transferee becomes a Member in place of the Transferor. Except as otherwise provided in this Agreement, any Member who Transfers all of the Units held by such Member in a Transfer permitted pursuant to this Article IV where the Transferee (i) is the Company or (ii) is admitted as a Member shall automatically cease to be a Member as of the date of consummation of such Transfer.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Oxford Resource Partners LP), Limited Liability Company Agreement (Oxford Resource Partners LP), Limited Liability Company Agreement (Oxford Resource Partners LP)

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General Provisions Relating to Transfer of Units. (a) No Member may withdraw from the Company, other than as a result of a Transfer of all of such Member’s Units Membership Interests in accordance with this Article IV XIII with respect to which the Transferee becomes a Member in place of the Transferor. Except as otherwise provided in this Agreement, any Member who Transfers all of the Units Membership Interests held by such Member in a Transfer permitted pursuant to this Article IV XIII where the Transferee (i) is the Company or (ii) is admitted as a Member shall automatically cease to be a Member as of the date of consummation of such Transfer.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (American Midstream Partners, LP), Limited Liability Company Agreement, Limited Liability Company Agreement (American Midstream Partners, LP)

General Provisions Relating to Transfer of Units. (a) No Member may withdraw from the Company, other than as a result of a Transfer of all of such Member’s Units Membership Interests in accordance with this Article IV XIV with respect to which the Transferee becomes a Member in place of the Transferor. Except as otherwise provided in this Agreement, any Member who Transfers all of the Units Membership Interests held by such Member in a Transfer permitted pursuant to this Article IV XIV where the Transferee (i) is the Company or (ii) is admitted as a Member shall automatically cease to be a Member as of the date of consummation of such Transfer.

Appears in 3 contracts

Samples: Contribution Agreement (Southcross Energy Partners, L.P.), Contribution Agreement (American Midstream Partners, LP), Limited Liability Company Agreement (American Midstream Partners, LP)

General Provisions Relating to Transfer of Units. (a) No Member may withdraw from the Company, other than as a result of a Transfer of all of such Member’s Units in accordance with this Article IV and Article V with respect to which the Transferee becomes a Member in place of the Transferor. Except as otherwise provided in this Agreement, any Member who Transfers all of the Units held by such Member in a Transfer permitted pursuant to this Article IV and Article V where the Transferee (i) is the Company or (ii) is admitted as a Member shall automatically cease to be a Member as of the date of consummation of such Transfer.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Quest Resource Corp)

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General Provisions Relating to Transfer of Units. (a) No Member may withdraw from the Company, other than as a result of a Transfer of all of such Member’s Units in accordance with this Article IV Agreement with respect to which the Transferee is already a Member, or becomes a Substitute Member in place of the Transferor. Except as otherwise provided in this Agreement, any Member who Transfers all of the Units held by such Member in a Transfer permitted pursuant to this Article IV where the Transferee (i) is the Company or (ii) is admitted as a Member shall automatically cease to be a Member as of the date of consummation of such Transfer.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Stonemor Partners Lp)

General Provisions Relating to Transfer of Units. (a) No Member may withdraw from the Company, other than as a result of a Transfer of all of such Member’s 's Units in accordance with this Article IV and Article V with respect to which the Transferee becomes a Member in place of the Transferor. Except as otherwise provided in this Agreement, any Member who Transfers all of the Units held by such Member in a Transfer permitted pursuant to this Article IV and Article V where the Transferee (i) is the Company or (ii) is admitted as a Member shall automatically cease to be a Member as of the date of consummation of such Transfer.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Quest Resource Corp)

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