Common use of Rights of Assignee of Company Interest Clause in Contracts

Rights of Assignee of Company Interest. (a) Except as provided in this Article and as required by operation of law, the Company shall not be obligated for any purpose whatsoever to recognize the assignment by any Investor Member of its Interest until the Company has received actual Notice thereof. (b) Any Person who is the assignee of all or any portion of an Investor Member’s Interest, but does not become a Substitute Investor Member and desires to make a further assignment of such Interest, shall be subject to all the provisions of this Article IX to the same extent and in the same manner as any Investor Member desiring to make an assignment of its Interest.

Rights of Assignee of Company Interest. (a) Except as provided in this Article and as required by operation of law, the Company shall not be obligated for any purpose whatsoever to recognize the assignment by any Investor Member of its Interest until the Company has received actual Notice notice thereof. (b) Any Person who is the assignee of all or any portion of an Investor Member’s Interest, but does not become a Substitute Investor Member and desires to make a further assignment of such Interest, shall be subject to all the provisions of this Article IX to the same extent and in the same manner as any Investor Member desiring to make an assignment of its Interest.

Rights of Assignee of Company Interest. (a) Except as provided in this Article and as required by operation of law, the Company shall not be obligated for any purpose whatsoever to recognize the assignment by any Investor Member of its his (its) Interest until the Company has received actual Notice thereof. (b) Any Person who is the assignee of all or any portion of an Investor a Member’s 's Interest, but does not become a Substitute Investor or Additional Member and desires to make a further assignment of such Interest, shall be subject to all the provisions of this Article IX X to the same extent and in the same manner as any Investor Member desiring to make an assignment of its his (its) Interest.