Common use of Limitations on Transfers Clause in Contracts

Limitations on Transfers. (a) Except as provided in Section 9.1(b), neither Member may sell, assign, transfer, or otherwise dispose of, or pledge, hypothecate, or otherwise encumber all or any part of its Membership Interest (any such action, a "Transfer"), whether voluntarily, involuntarily, or by operation of law, unless approved by the other Member and the Principals. Notwithstanding the approval of the other Member and the Principals to any Transfer by a Member, the rights of any Assignee shall be subject at all times to the limitations set forth in Section 9.2.

Limitations on Transfers. (a) Except as provided in Section 9.1(b8.1(b) and 8.1(c), neither Member may sell, assign, transfer, transfer or otherwise dispose of, or pledge, hypothecate, hypothecate or otherwise encumber (any or all of the foregoing, a "Transfer") all or any part of its Membership Interest Interest, the profits, losses and distributions therefrom, or any part thereof (any such action, a "Transfer"), whether voluntarily, involuntarily, involuntarily or by operation of law, ) unless approved by the other Member and the PrincipalsMember, which consent shall not be unreasonably withheld or delayed. Notwithstanding the approval of the other non-transferring Member and the Principals to any Transfer by a Member, the rights of any Assignee Transferee shall be subject at all times to the limitations set forth in Section 9.28.2.

Limitations on Transfers. (a) Except as provided in Section 9.1(b), neither no Member may sell, assign, transfer, or otherwise dispose of, or pledge, hypothecate, or otherwise encumber all or any part of its Membership Interest (any such action, a "Transfer"), whether voluntarily, involuntarily, or by operation of law, unless approved by a majority of the other Member and the PrincipalsVoting Interests. Notwithstanding the approval of the other Member and the Principals Members to any Transfer by a Member, the rights of any Assignee shall be subject at all times to the limitations set forth in Section 9.2.