Rights of Unadmitted Assignees. Unless admitted as a Member pursuant to Section 10.6 hereof, a Person who acquires Units and is not already a Member shall only be entitled to allocations and distributions with respect to such Units in accordance with this Agreement, and shall not have any right to any information or accounting of the affairs of the Company, and shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Act or this Agreement. In addition, the Units held by such Person shall continue to be subject to the restrictions on Transfer provided for in this Section 10.
Appears in 6 contracts
Samples: Member Control Agreement (Granite Falls Energy, LLC), Member Control Agreement, Member Control Agreement (Heron Lake BioEnergy, LLC)
Rights of Unadmitted Assignees. Unless admitted as a Member substitute Unit Holder pursuant to Section 10.6 hereof9.4, a Person who acquires Units and is not already a Member shall only be entitled to allocations and distributions with respect to such Units in accordance with this Agreement, and shall not have any right to any information or accounting of the affairs of the Company, and shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member Unit Holder under the Act or this Agreement. In addition, the Units held by such Person shall continue to be subject to the restrictions on Transfer provided for in this Section 109.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
Rights of Unadmitted Assignees. Unless admitted as a substitute Member pursuant to Section 10.6 10.7 hereof, a Person who acquires Units and is not already a Member shall only be entitled to allocations and distributions with respect to such Units in accordance with this Agreement, and shall not have any right to any information or accounting of the affairs of the Company, and shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Class A, Class B or Class C Member under the Act or this Agreement. In addition, the Units held by such Person shall continue to be subject to the restrictions on Transfer provided for in this Section 10.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement (Gevo, Inc.)
Rights of Unadmitted Assignees. Unless admitted as a substitute Member pursuant to Section 10.6 hereof, a Person who acquires Units and is not already a Member shall only be entitled to allocations and distributions with respect to such Units in accordance with this Agreement, and shall not have any right to any information or accounting of the affairs of the Company, and shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Class A, Class B or Class C Member under the Act or this Agreement. In addition, the Units held by such Person shall continue to be subject to the restrictions on Transfer provided for in this Section 10.
Appears in 1 contract
Samples: Operating Agreement
Rights of Unadmitted Assignees. Unless admitted as a substitute Member pursuant to Section 10.6 hereof, a Person who acquires Units and is not already a Member shall only be entitled to allocations and distributions with respect to such Units in accordance with this Agreement, and shall not have any right to any information or accounting of the affairs of the Company, and shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Act or this Agreement. In addition, the Units held by such Person shall continue to be subject to the restrictions on Transfer provided for in this Section 10.
Appears in 1 contract
Samples: Operating and Member Control Agreement (Otter Tail Ag Enterprises, LLC)
Rights of Unadmitted Assignees. Unless admitted as a Member pursuant to Section 10.6 10.7 hereof, a Person who acquires Units and is not already a Member shall only be entitled to allocations and distributions with respect to such Units in accordance with this Agreement, and shall not have any right to any information or accounting of the affairs of the Company, and shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Act or this Agreement. In addition, the Units held by such Person shall continue to be subject to the restrictions on Transfer provided for in this Section 10.
Appears in 1 contract
