The Member. The Member is the owner of the Company. Pursuant to Section 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: Operating Agreement, Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 1706.30 401 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: Operating Agreement, Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 1706.30 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, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 1706.30 18-2012.2 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 3 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 1706.30 15-7 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 1706.30 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: Operating Agreement, Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 1706.30 18-106 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, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 1706.30 00-000-000 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 3 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 1706.30 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 3 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 1706.30 17-7668 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 3 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 1706.30 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 1706.30 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 1706.30 428-403 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 1706.30 605.047 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: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 1706.30 Sections 23-18-2-2 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 1706.30 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 1706.30 275.165 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 1706.30 34-255f 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: Operating Agreement, Operating Agreement
The Member. The Member is the owner of the Company. Pursuant to Section 1706.30 Sections 13.1-1009 and 13.1-1023 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 1706.30 48-3a-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 1706.30 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 1706.30 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 1706.30 347.081 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 1706.30 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 1706.30 35-8-504 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 1706.30 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 1706.30 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 1706.30 304-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 1706.30 31B-4-403 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 1706.30 4-38-407 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 1706.30 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 1706.30 21-136 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 1706.30 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 1706.30 57D-2-30 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
The Member. The Member is the owner of the Company. Pursuant to Section 1706.30 183.0401 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 1706.30 450.4401 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 1706.30 47-34A-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 1706.30 489.407 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 1706.30 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 1706.30 10-32.1-39 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 1706.30 Sections 30-25- 301 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 1 contract
Samples: Operating Agreement