No Transfer of Managing Membership Interest; No Withdrawal or Loans Sample Clauses

No Transfer of Managing Membership Interest; No Withdrawal or Loans. Without the approval of Members holding a majority of the Required Interests, if applicable, the Managing Member will not sell, assign, pledge, mortgage or otherwise dispose of its interest in the Company, will not withdraw from the Company prior to the dissolution of the Company and will not borrow or withdraw any amount from the Company, except as expressly permitted by this Agreement. Any such sale, assignment, pledge, mortgage or disposition in contravention of this Section 5.7 shall be void. Notwithstanding any provision of this Agreement, including this Section 5.7, if the Managing Member is required to be regulated as a registered investment adviser under the Investment Advisers Act, the Managing Member shall not engage in any “assignment” (within the meaning of the Investment Advisers Act) of its interest in the Company without the requisite consent required under the Investment Advisers Act; provided that the rights of the Members with respect to any breach of this sentence shall be limited to those set forth in the Investment Advisers Act.
Sample 1
AutoNDA by SimpleDocs

Related to No Transfer of Managing Membership Interest; No Withdrawal or Loans

  • Transfer of Membership Interest The Sole Member may Transfer any part or all of its rights and interest (including, but not limited to, its Capital Account) in the Company (each a “Membership Interest”) now owned or hereafter acquired to any Person, and the transferee of such Membership Interest shall become a Member of the Company.

  • Transfer of the Property or a Beneficial Interest in Borrower For purposes of this Section 19 only, “Interest in the Property” means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract, or escrow agreement, the intent of which is the transfer of title by Borrower to a purchaser at a future date. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Xxxxxx’s prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, Lender will not exercise this option if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender will give Borrower notice of acceleration. The notice will provide a period of not less than 30 days from the date the notice is given in accordance with Section 16 within which Borrower must pay all sums secured by this Security Instrument. If Xxxxxxxx fails to pay these sums prior to, or upon, the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower and will be entitled to collect all expenses incurred in pursuing such remedies, including, but not limited to: (a) reasonable attorneys’ fees and costs; (b) property inspection and valuation fees; and (c) other fees incurred to protect Xxxxxx’s Interest in the Property and/or rights under this Security Instrument.

  • Transfer of Membership Membership shall not be transferred except with the approval and consent of the Board of Managers and in accordance with the Capital Units Transfer System.

  • Payment and Transfer of Interest Buyer shall pay interest on cash held as Performance Assurance, at the Interest Rate and on the Interest Payment Date. Buyer will transfer to Seller all accrued Interest Amount on the unused cash Performance Assurance in the form of cash by wire transfer to the bank account specified under “Wire Transfer” in Appendix X (Notices).

  • Transfer of Interest The Interest is personal property and may be transferred or assigned, in whole or in part, as permitted by the Equityholders Agreement, in the sole discretion of the Member. Notwithstanding anything to the contrary set forth herein, no Interest in the Company may be issued, transferred or pledged in any manner whatsoever except in compliance with all applicable Gaming Licenses and Gaming Laws, except as contemplated by Section 9.2.

  • Interest of Members of Congress No member of or delegate to the Congress of the United States will be admitted to any share or part of this contract or to any benefit arising therefrom.

  • Transfer of Interest Amount The Transfer of the Interest Amount will be made on the second Local Business Day following the end of each calendar month and on any other Local Business Day on which Posted Collateral in the form of Cash is Transferred to the Pledgor pursuant to Paragraph 3(b); provided, however, that the obligation of Party B to Transfer any Interest Amount to Party A shall be limited to the extent that Party B has earned and received such funds and such funds are available to Party B.

  • Membership Interests The Sole Member currently owns one hundred percent (100%) of the percentage interests in the Company.

  • Permitted Transfers Within Escrow 5.1 Transfer to Directors and Senior Officers

  • Administrative Transfers The District reserves the right to transfer personnel as conditions may require. Seniority and posting shall not apply in an administrative transfer involving two permanent employees. Transfers of this nature will be discussed with the exclusive representative's agent prior to final disposition. Except in the case of an emergency, (as defined by the District), the exclusive representative and the affected employee(s) will be given at least two (2) weeks advance written notice.

Time is Money Join Law Insider Premium to draft better contracts faster.