Rights, Duties and Liabilities of Transferees. (A) No Person to whom a Transfer of an Interest (or an interest therein) has been made (an “Assignee”), including a Personal Representative to whom a Transfer of an Interest is made pursuant to Section 5.4(b)(ii), shall be entitled to be admitted to the Company as a Class A Member or to exercise any of the rights, powers or authority of a Class A Member, unless the Managing Member approves thereof. The Managing Member may withhold such approval in its sole and absolute discretion.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Income Strategies, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC)
Rights, Duties and Liabilities of Transferees. (A) No Person to whom a Transfer of an Interest (or an interest therein) has been made (an “Assignee”), including a Personal Representative to whom a Transfer of an Interest is made pursuant to Section 5.4(b)(ii5.4(a)(ii), shall be entitled to be admitted to as a Member of the Company as a Class A Member or to exercise any of the rights, powers or authority of a Class A Member, unless the Managing Member approves thereof. The Managing Member may withhold such approval in its sole and absolute discretion.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (American Homeowner Preservation 2015A LLC), Limited Liability Company Agreement (American Homeowner Preservation 2015A LLC), Limited Liability Company Agreement (American Homeowner Preservation 2015A LLC)
Rights, Duties and Liabilities of Transferees. (A) No Person to whom a Transfer of an Interest (or an interest therein) in a Series has been made (an “Assignee”” of such Series), including a Personal Representative to whom a Transfer of an Interest is made pursuant to Section 5.4(b)(ii5.7(a)(ii), shall be entitled to be admitted to the Company such Series as a Class A Member or to exercise any of the rights, powers or authority of a Class A Member, unless the Managing Member Manager approves thereof. The Managing Member Manager may withhold such approval in its sole and absolute discretion.
Appears in 3 contracts
Samples: Limited Liability (Sow Good Investments, LLC), Limited Liability (Sow Good Investments, LLC), Limited Liability Company (Sow Good Investments, LLC)
Rights, Duties and Liabilities of Transferees. (A) No Person to whom a Transfer of an Interest (or an interest therein) has been made (an “"Assignee”"), including a Personal Representative to whom a Transfer of an Interest is made pursuant to Section 5.4(b)(ii), shall be entitled to be admitted to the Company as a Class A Member or to exercise any of the rights, powers or authority of a Class A Member, unless the Managing Member approves thereof. The Managing Member may withhold such approval in its sole and absolute discretion.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Fund II, LLC)
Rights, Duties and Liabilities of Transferees. (A) No Person to whom a Transfer of an Interest (or an interest therein) has been made (an “"Assignee”"), including a Personal Representative to whom a Transfer of an Interest is made pursuant to Section 5.4(b)(ii), shall be entitled to be admitted to the Company as a Class A Member or to exercise any of the rights, powers or authority of a Class A Member, unless the Managing Member approves thereof. The Managing Member may withhold such approval in its sole and absolute discretion.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC)
Rights, Duties and Liabilities of Transferees. (A) No Person to whom a Transfer of an Interest (or an interest therein) in a Series has been made (an “Assignee”” of such Series), including a Personal Representative to whom a Transfer of an Interest is made pursuant to Section 5.4(b)(ii5.7(a)(ii), shall be entitled to be admitted to the Company such Series as a Class A Member or to exercise any of the rights, powers or authority of a Class A Member, unless the Managing Member approves thereof. The Managing Member may withhold such approval in its sole and absolute discretion.
Appears in 1 contract
