LIMITATION ON TRANSFER OF MEMBERSHIP UNIT. For so long as this Agreement shall remain in effect, no Member shall sell, assign, pledge, hypothecate, transfer exchange or otherwise transfer for consideration (a "Transfer"), its Membership Unit, in whole or in part, and a transferee shall not have a right to become a "Substitute Member," except in strict compliance with the provisions of this Agreement. Any Transfer will be effective on the first day following receipt by the Members from the Manager of written notice that all of the requirements of this Article VIII have been met.
Appears in 4 contracts
Samples: Operating Agreement (Onepoint Communications Corp /De), Operating Agreement (Onepoint Communications Corp /De), Operating Agreement (Onepoint Communications Corp /De)
