Common use of Restrictions on Transfer of Interests Clause in Contracts

Restrictions on Transfer of Interests. (a) Subject to Section 11.2(b), no transfer (a “Transfer”) of all or any portion of a Member’s Units may be made without (i) the prior written consent of the Manager, which consent may be withheld for any reason at the Manager’s sole discretion, (ii) the receipt by the Manager of such documents and instruments of transfer as the Manager may reasonably require, and (iii) if requested by the Manager, the receipt by the Manager, not less than 10 days prior to the date of any proposed Transfer of a written opinion of counsel (who may be counsel for the Fund), satisfactory in form and substance to the Manager, to the effect that such Transfer would not result in any adverse legal or regulatory consequences to the Fund or any Member under the Investment Company Act of 1940, the Investment Advisers Act of 1940, or otherwise, including, but not limited to, that such Transfer would not:

Restrictions on Transfer of Interests. (a) Subject to Section 11.2(b), no transfer (a “Transfer”) of all or any portion of a Member’s Units may be made without (i) the prior written consent of the Manager, which consent may be withheld for any reason at the Manager’s sole discretion, (ii) the receipt by the Manager of such documents and instruments of transfer as the Manager may reasonably require, and (iii) if requested by the Manager, the receipt by the Manager, not less than 10 days prior to the date of any proposed Transfer of a written opinion of counsel (who may be counsel for the FundCompany), satisfactory in form and substance to the Manager, to the effect that such Transfer would not result in any adverse legal or regulatory consequences to the Fund Company or any Member under the Investment Company Act of 1940, the Investment Advisers Act of 1940, or otherwise, including, but not limited to, that such Transfer would not:

Restrictions on Transfer of Interests. (a) Subject to Section 11.2(b8.1(b), no transfer (a “Transfer”) Transfer of all or any portion fraction of a Member’s Units Nonmanaging Member s Interest may be made without (i) the prior written consent of the ManagerManaging Member, which consent may be withheld for any reason at the Manager’s Managing Member s sole discretion, (ii) the receipt by the Manager Managing Member of such documents and instruments of transfer Transfer as the Manager Managing Member may reasonably require, and (iii) if requested required by the ManagerManaging Member, the receipt by the ManagerManaging Member, not less than 10 ten (10) days prior to the date of any proposed Transfer Transfer, of a written opinion of counsel (who may be counsel for the Fund), satisfactory in form and substance to the ManagerManaging Member, to the effect that such Transfer would not result in any adverse legal or regulatory consequences to the Fund or any Member under the Investment Company Act of 1940Act, the Investment Advisers Act of 1940Act, or otherwise, including, but not limited to, that such Transfer would not:

Restrictions on Transfer of Interests. (a) Subject to Section 11.2(b8.1(b), no transfer (a “Transfer”) Transfer of all or any portion fraction of a Nonmanaging Member’s Units 's Interest may be made without (i) the prior written consent of the ManagerManaging Member, which consent may be withheld for any reason at the Manager’s Managing Member's sole discretion, (ii) the receipt by the Manager Managing Member of such documents and instruments of transfer Transfer as the Manager Managing Member may reasonably require, require and (iii) if requested required by the ManagerManaging Member, the receipt by the ManagerManaging Member, not less than 10 ten (10) days prior to the date of any proposed Transfer of a written opinion of counsel (who may be counsel for the Fund), satisfactory in form and substance to the ManagerManaging Member, to the effect that such Transfer would not result in any adverse legal or regulatory consequences to the Fund or any Member under the Investment Company Act of 1940Act, the Investment Advisers Act of 1940, or otherwise, including, but not limited to, that such Transfer would not: