Percentage of Limitations or Transfers. Notwithstanding any other provision of this Agreement to the contrary, the Company or a Series Manager shall not be required to recognize any transfer of an Interest in a Series if the transfer, when considered with other transfers of the Interests in a Series made within the period of twelve (12) consecutive calendar months prior thereto, would constitute a sale or exchange of fifty percent (50%) or more of the total Series’ Interest and result in the tax termination of the Company under article 708(b) of the Internal Revenue Code of 1986, as amended.
Appears in 7 contracts
Samples: Series Limited Liability Company Agreement (VV Markets LLC), Series Limited Liability Company Agreement (Mythic Collection, LLC), Series Limited Liability Company Agreement (Mythic Collection, LLC)
Percentage of Limitations or Transfers. Notwithstanding any other provision of this Agreement to the contrary, the Company or a Series Manager shall not be required to recognize any transfer of an Interest in a Series Company interest if the transfer, when considered with other transfers of the Interests in a Series Company interests made within the period of twelve (12) consecutive calendar months prior thereto, would constitute a sale or exchange of fifty percent (50%) or more of the total Series’ Interest Company interest and result in the tax termination of the Company under article Article 708(b) of the Internal Revenue Code of 1986, as amended.
Appears in 3 contracts
Samples: Operating Agreement, Operating Agreement, Limited Liability Company Agreement
Percentage of Limitations or Transfers. Notwithstanding any other provision of this Agreement to the contrary, the Company or a Series Manager shall not be required to recognize any transfer of an Interest in a Series if the transfer, when considered with other transfers of the Interests in a Series made within the period of twelve (12) consecutive calendar months prior thereto, would constitute a sale or exchange of fifty percent (50%) or more of the total Series’ ' Interest and result in the tax termination of the Company under article 708(b) of the Internal Revenue Code of 1986, as amended.
Appears in 1 contract
Samples: Series Limited Liability Company Agreement (VV Markets LLC)
Percentage of Limitations or Transfers. Notwithstanding any other provision of this Operating Agreement to the contrary, the Company or a Series Manager shall not be required to recognize any transfer of an Interest in a Series Company interest if the transfer, when considered with other transfers of the Interests in a Series Company interests made within the period of twelve (12) consecutive calendar months prior thereto, would constitute a sale or exchange of fifty percent (50%) or more of the total Series’ Interest Company interest and result in the tax termination of the Company under article Article 708(b) of the Internal Revenue Code of 1986, as amended.
Appears in 1 contract
Samples: Series Limited Liability Company Operating Agreement
Percentage of Limitations or Transfers. Notwithstanding any other provision of this Agreement to the contrary, the Company or a Series Manager shall not be required to recognize any transfer of an Interest in a Series if the transfer, when considered with other transfers of the Interests in a Series made within the period of twelve (12) consecutive calendar months prior thereto, would constitute a sale or exchange of fifty percent (50%) or more of the total Series’ ? Interest and result in the tax termination of the Company under article 708(b) of the Internal Revenue Code of 1986, as amended.
Appears in 1 contract
Samples: Limited Liability Company Agreement (VV Markets LLC)
