Restrictions on Dispositions of Membership Interests. Except as otherwise set forth herein, no Member may Transfer its Membership Interests, in whole or in part, except upon the written consent of the Board, and in accordance with the terms of this Article VII or as otherwise set forth in this Agreement. The assignee or transferee of any Membership Interests shall not become, or exercise the rights of, a Member unless (i) the Board approves for the assignee or transferee to become a substitute Member with respect to such transferred Membership Interest, and (ii) the assignee or transferee executes a copy of or joinder to this Agreement. All Transfers of a Membership Interest are subject to approval of Manufacturer.
Appears in 4 contracts
Samples: Membership Interest Purchase Agreement (LMP Automotive Holdings, Inc.), Membership Interest Purchase Agreement (LMP Automotive Holdings, Inc.), Membership Interest Purchase Agreement (LMP Automotive Holdings, Inc.)
