Limitation on Transfers of Interest. Except as otherwise provided in Section 9.5, Section 9.6 and Section 9.7, no holder of an Interest may sell, assign, transfer, dispose, pledge, mortgage, hypothecate, grant a security interest in, or otherwise encumber, either voluntarily, involuntarily or by operation of law (collectively, a “Transfer”) all or any part of its Interest without the prior written consent of both Co-Managing Members. Notwithstanding the foregoing, any Co-Managing Member may make a Transfer of all or part of its Interest to one or more Affiliates of such Co-Managing Member, provided that (i) no assignee of all or part of such Interests shall be admitted as a Substituted Member of the Company without compliance with Section 9.2 below, and (ii) upon such permitted Transfer, the Transferring Member or its representative shall promptly give written notice thereof to the Company.
Limitation on Transfers of Interest. Upon the occurrence of any offer, issuance, delivery, distribution, assignment, pledge, grant, sale or other transfer of the capital stock or other equity interest of Contractor or any Guarantor (other than Parent) as a result of which (x) Contractor is no longer a direct or indirect wholly-owned subsidiary of each Guarantor, or (y) each Guarantor (other than Parent) is no longer a direct or indirect wholly owned subsidiary of Parent (any such event, a “Prohibited Transfer”), then the provisions of Section 8.02(b) shall apply. Notwithstanding the foregoing, a “Prohibited Transfer” shall not include any liquidation or merger of Contractor or any Guarantor other than Parent so long as the successor to such Contractor or Guarantor is Parent or another Guarantor.
Limitation on Transfers of Interest. Upon the occurrence of any offer, issuance, delivery, distribution, assignment, pledge, grant, sale or other transfer of the capital stock or other equity interest of Contractor as a result of which Contractor is no longer a direct, wholly-owned subsidiary of Guarantor (any such event, a “Prohibited Transfer”), then the provisions of Section 8.02(b) shall apply. Notwithstanding the foregoing, a “Prohibited Transfer” shall not include any liquidation or merger of Contractor so long as the successor to Contractor is Parent.
