Common use of Rights of Transferee Not Admitted as a Substitute Member Clause in Contracts

Rights of Transferee Not Admitted as a Substitute Member. If a transferee is not admitted as a Substitute Member, he shall be entitled to receive distributions and allocations with respect to the acquired Interest as set forth in this Agreement, but shall have no voting or consent rights, no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not be entitled to any of the rights of a Member under the Act or this Agreement.

Appears in 4 contracts

Samples: Limited Liability (Radnor Holdings Corp), Limited Liability (Radnor Holdings Corp), Limited Liability (Radnor Holdings Corp)

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