Rights of Assignee. The Assignee of a Membership Interest shall be entitled to receive distributions and profits and losses attributable to the Membership Interest in the Company, but in no event shall the Assignee have the right to participate in, or interfere with, the management or administration of the Company’s business or affairs or become a substitute Member unless permitted to do so by a unanimous vote of the other Members.
Appears in 80 contracts
Samples: Operating Agreement (Century Communities of Georgia, LLC), Operating Agreement (Century Communities of Georgia, LLC), Operating Agreement (Century Communities of Georgia, LLC)
Rights of Assignee. The Assignee of a Membership Interest shall be has no right to participate in the management of the business and affairs of the Company or to become a Member. The Assignee is only entitled to receive distributions the Distributions and profits return of capital, and losses to be allocated the income, deductions, gain and loss attributable to the Membership Interest in the Company, but in no event shall the Assignee have the right to participate in, or interfere with, the management or administration accordance with Section 2.3 of the Company’s business or affairs or become a substitute Member unless permitted to do so by a unanimous vote of the other Members.Article X.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (HPSC Inc), Limited Liability Company Agreement (HPSC Inc), Limited Liability Company Agreement (HPSC Inc)
Rights of Assignee. The Assignee of a Membership Interest shall be entitled to receive distributions and profits and losses attributable to the Membership Interest in the Company, but in no event shall Company and the Assignee have the right to participate in, or interfere with, the management or administration of the Company’s business or affairs or shall become a substitute Member unless permitted to do so by a unanimous vote of the other MembersManaging Member.
Appears in 3 contracts
Samples: Operating Agreement (Century Communities of Georgia, LLC), Operating Agreement (Century at Murphy Creek, LLC), Operating Agreement (Century at Murphy Creek, LLC)
Rights of Assignee. The Unless admitted to the Company as a Member in accordance with Sections 6.00 and 6.02, the Assignee of a Membership Interest shall be entitled to receive distributions and profits and losses attributable to the Membership Interest in the Company, but in no event by assignment, operation of law or otherwise, shall not be entitled to any of the Assignee have the right to participate inrights, powers, or interfere withprivileges of his or its predecessor in interest, the management except that he or administration she shall be entitled to receive and have allocated his or her share of the Company’s business distributions and of income or affairs or become a substitute Member unless permitted to do so by a unanimous vote of the other Membersloss.
Appears in 1 contract
Samples: Operating Agreement
