Transfer Among Members. Any Member may transfer all or any portion of such Member's interest to another Member(s), and no Member shall have any preference, first refusal or other right to acquire such interest. Upon any transfer pursuant to this Section, the Percentage Interests and any equity of the transferor Member and the transferee Member(s) shall be adjusted, and Schedule A shall be amended accordingly. The transferee Member(s) shall assume and be obligated to discharge all of the obligations of the transferor Member attributable to the transferred interest.
Appears in 41 contracts
Samples: Limited Liability Company Operating Agreement (Town Sports International Inc), Limited Liability Company Operating Agreement (Town Sports International Inc), Limited Liability Company Operating Agreement (Town Sports International Inc)
Transfer Among Members. Any Member may transfer all or any portion of such Member's his or her interest to another Member(s), and no Member shall have any preference, first refusal or other right to acquire such interest. Upon any transfer pursuant to this Section, the Percentage Interests and any equity of the transferor Member and the transferee Member(s) shall be adjusted, and Schedule A shall be amended accordingly. The transferee Member(s) shall assume and be obligated to discharge all of the obligations of the transferor Member attributable to the transferred interest.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement (Rousselot Dubuque Inc.), Limited Liability Company Operating Agreement (Town Sports International Inc)
