Pledge of Interests. The pledge or granting of a security interest, lien or other encumbrance in or against all or any portion of a Member's Interest shall be a Transfer subject to the restrictions of this Article VIII; provided, that, in any event, the foreclosure of or exercise of other secured party remedies with respect to such pledge, security interest, lien or other encumbrance resulting in a Transfer of any such Interest shall nonetheless be a Transfer subject to the restrictions of this Article VIII.
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Samples: Operating Agreement (Penske Motorsports Inc), Operating Agreement (Penske Motorsports Inc)
Pledge of Interests. The pledge or granting of a security interest, lien or other encumbrance in or against all or any portion of a Member's Interest shall not be a Transfer subject to the restrictions of this Article VIII; provided, that, in any event, the foreclosure of foreclosure, or exercise of other secured party remedies remedies, with respect to such pledge, security interest, lien or other encumbrance resulting in a Transfer of any such Interest shall nonetheless be a Transfer subject to the restrictions of this Article VIII.
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Pledge of Interests. The pledge or granting of a security interest, lien or other encumbrance in or against all or any portion of a Member's ’s Interest shall be a Transfer subject to the restrictions of this Article VIIIVII; provided, that, in any event, the foreclosure of or exercise of other secured party remedies with respect to such pledge, security interest, lien or other encumbrance resulting in a Transfer of any such Interest shall nonetheless be a Transfer subject to the restrictions of this Article VIIIVII.
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