Restrictions on Ownership and Transfers. (i) At any time during the Restriction Period, except as provided in Section 9.9, (i) no Individual shall Beneficially Own outstanding Shares in excess of the General Ownership Limit and (ii) any Transfer that, if effective, would result in any Individual Beneficially Owning Shares in excess of the General Ownership Limit shall be void ab initio as to the Transfer of that number of Shares that would be otherwise Beneficially Owned by such Individual in excess of the General Ownership Limit, and the intended transferee shall acquire no rights in such excess Shares.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Jamestown Invest 1, LLC), Limited Liability Company Agreement (Jamestown Invest 1, LLC), Limited Liability Company Agreement (Jamestown Atlanta Invest 1, LLC)
