Other Assignments Void. (a) Without limiting the terms of Section 10.1, any Member, other than CNL, that is an incorporated or unincorporated business entity and any permitted assignee of all or any portion of the Entire Interest of such business entity, shall not permit, without prior CNL Consent, which consent may be withheld in the sole and uncontrolled discretion of CNL, the direct or indirect admission of any new equity or other beneficial interest holder in such entity, or the issuance or assignment to any person or entity, who is not now an equity or other beneficial interest holder, or an Affiliate of such an equity interest holder, in such entity, of any kind of interest whatsoever in such entity. If a transfer is permitted under this subsection, such assignee shall pay all expenses incurred by the Company in connection with the transfer. The foregoing shall not, in any form or fashion, restrict transfers of ownership interests in Crescent Holdings, LLC, a Delaware limited liability company.
(b) Further without limiting the terms of Section 10.1, any Member, other than CNL, that is an incorporated or unincorporated business entity and any permitted assignee of all or any portion of the Entire Interest of such business entity, shall not permit, without prior CNL Consent, which consent may be withheld in the sole and uncontrolled discretion of CNL, the issuance, sale, assignment, gift, pledge, hypothecation or encumbrance of any interest in such entity or in any equity or other beneficial interest holder in such entity or any such assignee or any instruments convertible into any interest in such entity or in any equity or other beneficial interest holder in such entity or any such assignee or the transfer of any right to vote any equity or other beneficial interest in such entity or any such assignee. The foregoing shall not, in any form or fashion, restrict transfers of ownership interests in Crescent Holdings, LLC, a Delaware limited liability company
Other Assignments Void. Except as otherwise herein provided, any assignment by a party of its rights or the delegation of its obligations under this Agreement shall be void and wholly without legal effect.
Other Assignments Void. (a) Any purported transfer of an interest in the Company not otherwise permitted by this Article 10 shall be null and void and of no effect whatsoever.
(b) Subject to the provisions of Section 10.1(c), Sunrise shall not, without the prior written consent of SHP, which may be granted or withheld in SHP's sole and absolute discretion, transfer, pledge, convey or encumber any of the interest in Sunrise or in the Initial Property Manager to any person who is not an Acceptable Person or to any entity controlling interest of which is not owned by an Acceptable Person.
Other Assignments Void. A purported assignment or transfer made in violation of the provisions of this Article 7 shall not be binding upon AE and shall be deemed to be a material default of this Agreement.
Other Assignments Void. (a) Except as otherwise provided in this Article 12, no other Transfer by a Member of its Interest in the Company shall be permitted. Any purported Transfer of an interest in the Company not otherwise permitted by this Article 12 shall be null and void and of no effect whatsoever.
Other Assignments Void. A purported assignment or transfer made in violation of the provisions of this Article 13 shall not be binding upon SMEU and shall be deemed to be a material default of this Agreement.
Other Assignments Void. Any assignment of this Agreement or of a Party’s rights or obligations hereunder that is not in compliance with this Article 16 shall be void.
Other Assignments Void. 40 10.3 SALE OF ENTIRE INTEREST TO OTHER MEMBER; BUY-SELL...................40 10.4 RIGHT OF FIRST REFUSAL FOR SALE OF THE PROPERTY TO THIRD PARTY......42 10.5 RIGHT OF FIRST OFFER FOR SALE OF PROPERTY...........................43 10.6
Other Assignments Void. 26 ARTICLE 13.
Other Assignments Void. (a) Any purported Transfer not otherwise expressly permitted by this Article 10 shall be null and void and of no effect whatsoever.
(b) Extra Space, any holder of a direct or indirect interest in Extra Space (including without limitation Extra Space Storage Inc. and Extra Space Storage LP) and any Transferee of all or any portion of the Entire Interest of Extra Space shall have the right, without the prior consent of Prudential, to cause the issuance or Transfer of equity interests in Extra Space or any such holder, and to permit assignments of all or any portion of the Entire Interest to Persons who at any time are equity interest holders in Extra Space or in any member in Extra Space, and any of the foregoing shall be Transfers permitted under this Article 10, and Extra Space shall not be required to obtain the consent of, nor offer all or any portion of its interest in the Company or such other interest in Extra Space Storage, Inc. or Extra Space Storage L.P. to be Transferred to Prudential in connection with any of the foregoing.
(c) Extra Space and members in Extra Space shall also have the right, in order to raise funds for Extra Space to meet its capital contribution obligations as set forth in this Agreement to incur indebtedness secured by all or any portion of Extra Space’s interest in the Company or such member’s interest in Extra Space Storage LLC, provided, however, that if, as a result of Extra Space’s or such member’s default under any such indebtedness, a party succeeds to ownership of, or gains any rights in, all or any portion of Extra Space’s interest in the Company or such member’s interest in Extra Space, Prudential shall have the exclusive right and authority to act for and make decisions on behalf of, the Company, and any and all provisions of this Agreement requiring the unanimous consent of the Members for any action or vote of or by all of the Members shall become immediately null and void.
