Series Interests Clause Samples

Series Interests. When the Series Interests are issued to the Members as contemplated by this Agreement and the capital contributions required to be made by such Members are made, the Series Interest issued to such Members will be duly and validly issued and no liability for any additional capital contributions or for any obligations of the Company or Series will attach thereto, except to the extent required by the Act or this Agreement.

Series Interests. (a) An officer of each Series shall keep a register of all outstanding Series Interests and the Record Holders thereof. (b) An Assignee shall become the Record Holder of Series Interests when a transfer of such Series Interests is reflected in the register of such Series; provided, however, that no Assignee shall become a Record Holder of any Series Interest(s) without obtaining any necessary Governmental Approvals required in connection with such Assignee’s acquisition of such Series Interest(s). (c) The Company and the Series Members shall be entitled to recognize the Record Holder(s) as the owner(s) of Series Interests and, except as otherwise required by applicable Law, shall not be bound to recognize any equitable or other claim to, or interest in, any Series Interests on the part of any other Person, whether or not the Company or any Member shall have actual or other notice of any such claim. The Disposition of any Series Interests in accordance with this Agreement and the admission of any new Member(s) shall not constitute an amendment to this Agreement.