Common use of PERMITTED TRANSFERS OF INTERESTS; RIGHT OF FIRST OFFER Clause in Contracts

PERMITTED TRANSFERS OF INTERESTS; RIGHT OF FIRST OFFER. 9.2.1 The Non-Managing Member, from time to time and in its sole discretion, without the consent of the Managing Member, may Transfer its Interest in whole, or in part, to any party, provided such transferee agrees to be bound by all the terms, conditions and provisions of this Agreement (including the provisions of this Article 9). Any Transfer of the Non-Managing Member's Interest to a third party shall be deemed a Permitted Transfer, and if such transferee acquires all of the Non-Managing Member's Interest, such transferee shall be admitted as a Substitute Member pursuant to Section 9.3. If the Non-Managing Member elects to sell its interest to the Managing

PERMITTED TRANSFERS OF INTERESTS; RIGHT OF FIRST OFFER. 9.2.1 The Non-Managing Member, from time to time and in its sole discretion, without the consent of the Managing Member, may Transfer its Interest in whole, or in part, to any party, provided such transferee agrees to be bound by all the terms, conditions and provisions of this Agreement (including the provisions of this Article 9). Any Transfer of the Non-Managing Member's Interest to a third party shall be deemed a Permitted Transfer, and if such transferee acquires all of the Non-Managing Member's Interest, such transferee shall be admitted as a Substitute Member pursuant to Section 9.3. If the Non-Managing Member elects to sell its interest to the Managing.