Title to Company Property. A Member’s interest in the Company shall for all purposes be personal property. All property owned by the Company, whether real or personal, tangible or intangible, shall be owned by the Company as an entity, and no Member, individually, shall have any ownership interest in that property.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Lexington Master Limited Partnership), Limited Liability Company Agreement (Winthrop Realty Trust), Limited Liability Company Agreement (Winthrop Realty Trust)
Title to Company Property. A Member’s 's interest in the Company shall for all purposes be personal property. All property owned by the Company, whether real or personal, tangible or intangible, shall be owned by the Company as an entity, and no Member, individually, shall have any ownership interest in that property.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Winthrop Realty Trust), Limited Liability Company Agreement (Winthrop Realty Trust), Agreement (Shelbourne Properties I Inc)
