Common use of Rights of Assignee Clause in Contracts

Rights of Assignee. The purchaser or other transferee of the Sole Member’s Interest in the Company shall have only the right to receive the distributions and allocations of taxable income or loss to which the Sole Member would have been entitled under this Agreement with respect to the transferred Interest and shall not have or enjoy any right to participate in the management of the Company or to receive any financial information or reports relating to the Company or any other rights of a member under the Act or this Agreement, unless and until the purchaser or transferee is admitted as a member pursuant to Section 7.1 hereof.