The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 6 contracts
Samples: Mississippi Single Member Limited Liability Company Operating Agreement, Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 0015-00-000 7 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 3 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 10.50.110 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 3 contracts
Samples: Operating Agreement, Operating Agreement, Alaska Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 86.281 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 3 contracts
Samples: Limited Liability Company, Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 401 of the ActLaw, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement, Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 1706.30 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 3 contracts
Samples: Ohio Single Member Limited Liability Company Operating Agreement, Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 0018-00-000 106 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 3 contracts
Samples: Operating Agreement, Operating Agreement, secretaryofstate.com
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 10A-5A-4.07 of the ActLaw, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section Sections 00-00-000 and 00-00-000 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 29–804.07 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 322C.0407 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 605.047 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00Sections 23-0018-000 2-2 and 23-18-3-1.1 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00304-00-000 C:45 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 0031B-4-00-000 403 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 63.057 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 275.165 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 Sections 4054 and 4060 of the ActStatutes, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII7. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00000-000 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 0034-00-000 255f of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Connecticut Limited Liability Company, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 004-0038-000 407 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 15115(A) of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 0035-008-000 504 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 42:2C-37 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 0048-00-000 3a-408 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the a Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 Consistent with Sections 12:1303 and 12:1311 of the ActLaw, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII7. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00Sections 13.1-001009 and 13.1-000 1023 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII7. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00428-00-000 403 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 347.081 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 0018-00-000 2012.2 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 0017-00-000 7668 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 3973 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 1 contract
Samples: Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 450.4401 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 1 contract
Samples: Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 8847 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 1 contract
Samples: Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 0021-00-000 136 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 1 contract
Samples: Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 489.407 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 1 contract
Samples: Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 0010-0032.1-000 39 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII7. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 1 contract
Samples: Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 0047-00-000 34A-403 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 1 contract
Samples: Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 00-00-000 183.0401 of the ActLaw, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII7. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 1 contract
Samples: Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 0057D-2-00-000 30 of the Act, the Member is not entitled to compensation for services furnished to the Company in the Member’s simple capacity as a Member. An unauthorized transfer of the Member’s interest could create a substantial hardship for the Company. Consequently, the Member consents to the restrictions and procedures affecting the ownership and transfer of the Member’s interest as identified in Article VII. The Member acknowledges these restrictions are not intended to penalize, but rather are intended to protect and preserve the existing trust-based relationships, the Company’s capital, and the Company’s financial ability to continue its operations.
Appears in 1 contract
Samples: Operating Agreement