Rights of an Assignee. If an assignee of a Membership Interest is not admitted as a Member because of the failure to satisfy the requirements of Section 8.01 or 8.02 hereof, such assignee shall nevertheless be entitled to receive such distributions from the Company as the assigning Member would have been entitled to receive under Section 6.07 of this Operating Agreement with respect to such Membership Interest had the assigning Member retained such Membership Interest.
Appears in 2 contracts
Samples: Operating Agreement (Delta Mine Holding CO), Operating Agreement (Delta Mine Holding CO)
Rights of an Assignee. If an assignee of a Membership Interest Shares is not admitted as a Member because of the failure to satisfy the requirements of Section 8.01 Sections 10.1, 10.2, 10.3 or 8.02 10.5 hereof, such assignee shall nevertheless be entitled to receive such distributions from the Company as the assigning Member would have been entitled to receive under Section 6.07 Article VIII of this Operating Agreement with respect to such Membership Interest Shares had the assigning Member retained such Membership InterestShares.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (B&H Contracting, L.P.)
Rights of an Assignee. If an assignee of a Membership Interest is not admitted as a Member because of the failure to satisfy the requirements of Section 8.01 or 8.02 hereofthis agreement, such assignee shall nevertheless be entitled to receive such distributions from the Company as the assigning Member would have been entitled to receive under Section 6.07 provisions of this Operating Agreement with respect to such Membership Interest had the assigning Member retained such Membership Interest.
Appears in 1 contract
Samples: Operating Agreement
