Common use of Rights of Unadmitted Assignees Clause in Contracts

Rights of Unadmitted Assignees. Notwithstanding any other provision of this Agreement, a Person who acquires an Interest but who is not admitted as a Member of the Company pursuant to this Agreement shall be entitled only to receive, to the extent assigned, the distributions and the allocations to which the assignor would be entitled under this Agreement, but shall have no right to vote or to participate in the management and affairs of the Company, or to exercise any of the rights of a Member.

Appears in 9 contracts

Samples: Operating Agreement (Decrane Holdings Co), Operating Agreement (Decrane Holdings Co), Operating Agreement (Decrane Aircraft Holdings Inc)

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Rights of Unadmitted Assignees. Notwithstanding any other provision of this Agreement, a A Person who acquires an any Company Interest but who is not admitted as a Member of the Company pursuant to this Agreement Section 14.12 shall be entitled only to receive, allocations and distributions with respect to the extent assigned, the distributions and the allocations to which the assignor would be entitled under such Company Interest in accordance with this Agreement, but and shall have no right to vote any information or to participate in accounting of the management and affairs of the Company, shall not be entitled to inspect the books or to exercise records of the Company, and shall not have any of the rights of a MemberMember under the Act or this Agreement.

Appears in 2 contracts

Samples: Joint Venture and Operating Agreement, Joint Venture and Operating Agreement (Solazyme Inc)

Rights of Unadmitted Assignees. Notwithstanding any other provision of this Agreement, a A Person who acquires an Interest one or more Interests but who is not admitted as a Substituted Member of the Company pursuant to in accordance with this Agreement shall be entitled only to receive, allocations and distributions with respect to the extent assigned, the distributions and the allocations to which the assignor would be entitled under such Interest in accordance with this Agreement, but shall have no right to vote any information or accounting of the affairs of the Company, shall not be entitled to participate in the management and affairs of the Company, shall not be entitled to inspect the books or to exercise records of the Company, and shall not have any of the rights of a MemberMember under the Act or this Agreement (collectively, the "Non-Economic Rights").

Appears in 2 contracts

Samples: Operating Agreement (Corning Natural Gas Corp), Operating Agreement (Corning Natural Gas Corp)

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Rights of Unadmitted Assignees. Notwithstanding any other provision of this Agreement, a A Person who acquires an Interest one or more Company Interests but who is not admitted as a Substitute Member of the Company pursuant to this Agreement Section 7.7 hereof shall be entitled only to receive, allocations and distributions with respect to the extent assigned, the distributions and the allocations to which the assignor would be entitled under such Company Interest in accordance with this Agreement, but and shall have no right to vote any information or to participate in accounting of the management and affairs of the Company, shall not be entitled to inspect the books or to exercise records of the Company, and shall not have any of the rights of a MemberMember under the Act or this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Riggs National Corp)

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