Common use of Rights of Unadmitted Assignees Clause in Contracts

Rights of Unadmitted Assignees. A Person who acquires one or more Units but who is not admitted as a substituted Member pursuant to Section 5.1.5 is entitled to become only an Economic Interest Owner, with a right to allocations and distributions with respect to such interests in accordance with this Agreement. Such an Economic Interest Owner has no right to any information or accounting of the affairs of the Company, is not entitled to inspect the books or records of the Company, and does not have any of the voting rights, rights to participate in the management of the Company or other rights of a Member under the Act or this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Renal Care Group Inc), Limited Liability Company Agreement (Renal Care Group Inc)

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Rights of Unadmitted Assignees. A Person who acquires one or more Units Membership Interests but who is not admitted as a substituted Member pursuant to Section 5.1.5 is entitled only to become only an Economic Interest Owner, with a right to allocations and distributions with respect to such interests in accordance with this Agreement. Such an Economic Interest Owner , but has no right to any information or accounting of the affairs of the Company, is not entitled to inspect the books or records of the Company, and does not have any of the voting rights, rights to participate in the management of the Company or other rights of a Member under the Act or this Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Moody National REIT I, Inc.), Operating Agreement (Moody National REIT I, Inc.)

Rights of Unadmitted Assignees. A Person who acquires one or more Units Membership Interests but who is not admitted as a substituted Member pursuant to Section 5.1.5 8.7 is entitled to become only an Economic Interest Owner, with a right to allocations and distributions with respect to such interests the Membership Interests in accordance with this Agreement. Such an Economic Interest Owner , but, unless otherwise required by the Act, (i) has no right to any information or accounting of the affairs of the Company, (ii) is not entitled to inspect the books or records of the Company, and does not have any (iii) has none of the voting rights, rights to participate in the management of the Company or other rights of a Member under the Act or this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Texas San Macros Treatment Center Lp)

Rights of Unadmitted Assignees. A Person who acquires one or more Units Membership Interests but who is not admitted as a substituted Member pursuant to Section 5.1.5 is entitled only to become only an Economic Interest Owner, with a right to allocations and distributions with respect to such interests in accordance with this Agreement. Such an Economic Interest Owner , but has no right to any information or accounting of the affairs of the Company, is not entitled to inspect the books or records of the Company, and does not have any of the voting rights, rights to participate in the management of the Company or other rights of a Member under the Delaware Act or this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Moody National REIT I, Inc.)

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Rights of Unadmitted Assignees. A Person who acquires one or more Units Membership Interests but who is not admitted as a substituted Member pursuant to Section 5.1.5 is entitled only to become only an Economic Interest Owner, with a right to allocations and distributions with respect to such interests in accordance with this Agreement. Such an Economic Interest Owner , but has no right to any information or accounting of the affairs of the Company, is not entitled to inspect the books or records of the Company, and does not have any of the voting rights, rights to participate in the management of the Company or other rights of a Member under the Act or this Agreement.Company,-17-WEST\25 03 76645.2 378976-000001

Appears in 1 contract

Samples: Operating Agreement (Moody National REIT I, Inc.)

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