Status of Manager’s Interests. The Manager shall not have the right to transfer or assign the interests it holds as Manager in the Company; provided, however, to the extent that BRG or a BRG Transferee Transfers all or a portion of its Interest in accordance with Article 10 to a BRG Transferee, then after a Conversion such BRG Transferee may be appointed as an additional Manager under Section 7.1 by BRG or a BRG Transferee then holding all or a portion of an Interest without any further action or authorization by any Member.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
Status of Manager’s Interests. The Manager shall not have the right to transfer or assign the interests it holds as Manager in the Company; provided, however, to the extent that BRG or a BRG Transferee Transfers all or a portion of its Interest in accordance with Article Section 10 to a BRG Transferee, then after a Conversion such BRG Transferee may be appointed as an additional Manager under this Section 7.1 by BRG or a BRG Transferee then holding all or a portion of an Interest without any further action or authorization by any Member.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
Status of Manager’s Interests. The Manager shall not have the right to transfer or assign the interests it holds as Manager in the Company; provided, however, to the extent that BRG or a BRG Transferee Transfers all or a portion of its Interest in accordance with Article 10 to a BRG Transferee, then after a Conversion conversion pursuant to Section 10.4, such BRG Transferee may be appointed as an additional Manager under Section 7.1 by BRG or a BRG Transferee then holding all or a portion of an Interest without any further action or authorization by any Member.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
