Recognition of Assignment by Company or Other Members. No Transfer of an Interest that is in violation of this Article 7 shall be valid or effective, and neither the Company nor the Board nor any Member shall recognize the same for any purpose of this Agreement, including the purpose of making distributions of Available Cash pursuant to this Agreement with respect to such Interest or part thereof. Neither the Company nor the Board shall incur any liability as a result of refusing to make any such distributions to the assignee of any such invalid assignment.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (MPLX Lp), Limited Liability Company Agreement (Markwest Energy Partners L P), Limited Liability Company Agreement (Markwest Energy Partners L P)
Recognition of Assignment by Company or Other Members. No Transfer of an Interest that is in violation of this Article 7 shall be valid or effective, and neither the Company nor the Board nor any Member shall not recognize the same for any purpose of this Agreement, including the purpose of making distributions of Available Net Cash Flow pursuant to this Agreement with respect to such Interest or part thereof. Neither the Company nor the Board No liability shall incur any liability be incurred as a result of refusing to make any such distributions to the assignee of any such invalid assignment.
Appears in 3 contracts
Samples: Agreement and Plan of Reorganization (SeqLL, Inc.), Operating Agreement (VirTra, Inc), Operating Agreement (Nuvola, Inc.)
