Recognition of Transfer by Company. No Transfer of Membership Units, or any part thereof, that is in violation of this Article X shall be valid or effective, and neither the Company nor the Members shall recognize the same for the purpose of making distributions pursuant to Section 8.01 hereof with respect to such Membership Units or part thereof. Neither the Company nor the non-transferring Members shall incur any liability as a result of refusing to make any such distributions to the Transferee of any such invalid Transfer.
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Samples: Limited Liability Company Agreement (Titan Corp), Limited Liability Company Agreement (Cayenta Inc), Limited Liability Company Agreement (Cayenta Inc)
Recognition of Transfer by Company. No Transfer of a Membership UnitsInterest, or any part thereof, that is in violation of this Article X shall be valid or effective, and neither the Company nor the Members shall recognize the same for the purpose of making distributions pursuant to Section 8.01 hereof with respect to such Membership Units Interest or part thereof. Neither the Company nor the non-transferring Members shall incur any liability as a result of refusing to make any such distributions to the Transferee of any such invalid Transfer.
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