Common use of Status of Interests Transferred Clause in Contracts

Status of Interests Transferred. In any transfer, assignment or conveyance (or retransfer, reassignment or reconveyance) of any Participation Percentage herein by a Member to any other Member or other Person, permitted by the express terms of this Agreement or by operation of law, the transferee or assignee shall succeed to the same share of profits and losses of the Company and the same Participation Percentages, distribution priorities and

Status of Interests Transferred. In any transfer, assignment or conveyance (or retransfer, reassignment or reconveyance) of any Participation Percentage herein by a Member to any the other Member or other Person, Person in a manner specifically permitted by the express terms of this Agreement or by operation of law, the transferee or assignee shall succeed to the same share of profits and losses of the Company and the same Participation Percentages, distribution priorities andand ownership rights as were incident to the interest so transferred, assigned or conveyed.

Status of Interests Transferred. In any transfer, assignment or conveyance (or retransfer, reassignment or reconveyance) of any Participation Percentage herein by a Member to any the other Member or other Person, permitted by the express terms of this Agreement or by operation of law, the transferee or assignee shall succeed to the same share of profits and losses of the Company and the same Participation Percentages, distribution priorities andand ownership rights as were incident to the interest so transferred, assigned or conveyed.