Transfer by Legal Process. (a) Upon any involuntary transfer of all or any part of the Executive Shares pursuant to a levy of execution, foreclosure of pledge, garnishment, attachment, divorce decree or other legal process (other than a transfer upon Executive's death or Disability to Executive's Personal Representative or the beneficiaries of Executive's estate, provided that the transferee(s) comply with Section 9.3 of this Agreement), the transferee(s) of such acquired Executive Shares or any successor in title to such Executive Shares shall offer such Executive Shares for sale to the Company. Such offer shall be made in writing and shall disclose the terms and conditions of the acquisition of such Executive Shares by the transferee(s) of, or the successor(s) in title to, such Executive Shares.
(b) In the case of an offer under Section 4.2(a), the Company shall have the option to purchase all or any part of the Executive Shares offered by the transferee(s) or successor(s) in title to such Executive Shares either (x) at the price and on the terms and conditions under which such Executive Shares were acquired by the transferee(s) or successor(s) in title to the Executive Shares or (y) if the Company so elects, at a price equal to the Fair Market Value Per Share, payable as provided in Article V hereof. Such option shall be exercisable for a period ending on the later to occur of (i) the 90th day after receipt of such offer and (ii) the 30th day after determination of the Fair Market Value Per Share. The election by the Company as to the alternative methods of purchase provided for in this Section 4.2(b) shall be made within such option period.
Transfer by Legal Process. Upon any involuntary transfer of all or any portion of the Units of a Member pursuant to a levy of execution, foreclosure of pledge, garnishment, attachment, divorce decree, bankruptcy or other legal process (or by operation of law resulting from the death, disability, liquidation, dissolution or winding up of a Member), such Member shall cease to be a Member, but any successor in title to the transferred Units shall have no right to become a Member or vote in any Company matters unless admitted as a Member by written unanimous consent of the other Members. If such successor does not become a Member, such successor shall be merely an assignee within the meaning of Section 18-702(b) of the Act.
Transfer by Legal Process. Upon any involuntary transfer of all or any portion of the Units of a Member pursuant to a levy of execution, foreclosure of pledge, garnishment, attachment, divorce decree, bankruptcy or other legal process (or by operation of law resulting from the death, disability, liquidation, dissolution or winding-up of a Member), such Member shall cease to be a Member with respect to any Units so transferred and the transferee shall have no right to become a Member or vote in any Company matters unless admitted by the affirmative vote of all Members and subject to compliance with the provisions of Section 9.4.
Transfer by Legal Process. Upon any involuntary ------------------------- Transfer of all or any portion of the Membership Interest of a Member pursuant to a levy of execution, foreclosure of pledge, garnishment, attachment, divorce decree, bankruptcy or other legal process (or by operation of law resulting from the death, disability, liquidation, dissolution or winding-up of a Member), such Member shall cease to be a Member, but any successor to the transferred Membership Interest shall have no right to become a Member or vote in any Company matters unless admitted by affirmative vote of a Member or Members who hold 100% of the Membership Interest other than the Membership Interest so transferred, subject to the provisions of Section 9.5 hereof. If such successor does not become a Member, such successor shall be merely an assignee within the meaning of Section 18-702(b) of the Act.
Transfer by Legal Process. Upon any involuntary transfer of all or any portion of the Shares of a Member pursuant to a levy of execution, foreclosure of pledge, garnishment, attachment, divorce decree, bankruptcy or other legal process (or by operation of law resulting from the death, disability, liquidation, dissolution or winding-up of a Member), (i) such Member shall cease to be a Member with respect to any Shares so transferred, (ii) the Shares that are so transferred shall, in the hands of the transferee, be subject to the purchase rights described in Section 9.10, treating the transferee as the Transferring Person for such purposes. If the Company and the Members do not purchase the transferred Shares pursuant to Section 9.10, and the transferee shall have no right to become a Member or vote in any Company matters unless admitted by the affirmative vote of Members who hold at least a majority of the Shares (other than the Shares so transferred), and subject to compliance with the provisions of Section 9.
Transfer by Legal Process. Upon any involuntary transfer of all or any part of the Issued Units by reason of sale pursuant to a levy of execution, foreclosure of pledge, garnishment, attachment, divorce decree, or other legal process, the Company shall have the option to purchase all or any part of the Issued Units owned by the transferee(s) of such acquired Issued Units or any successor in title to such Issued Units. The transferee(s) of such acquired Issued Units or any successor in title to such Issued Units shall offer to sell to the Company all of the Issued Units owned by the Issued Unit Holder or transferee(s) or successor(s) and subject to such involuntary transfer, and all Issued Units acquired following such involuntary transfer, on the terms and conditions hereinafter contained.
Transfer by Legal Process. Upon any involuntary transfer of all or any portion of the Units of a Member pursuant to a levy of execution, foreclosure of pledge, garnishment, attachment, bankruptcy or other legal process (or by operation of law resulting from the liquidation, dissolution or winding-up of a Member), (i) such Member shall cease to be a Member with respect to any Units so transferred and (ii) the Units that are so transferred shall, in the hands of the transferee, be subject to the purchase rights described in Section 9.5, treating the transferee as the Transferring Person for such purposes. If the Company and the Members do not purchase the transferred Units pursuant to Section 9.5, the transferee shall have no right to become a Member or vote in any Company matters unless admitted by the affirmative vote of all of the Members other than the Member transferring or proposing to transfer all or any part of its Units, and subject to compliance with the provisions of Section 9.4.
Transfer by Legal Process. Upon any involuntary Transfer of all or any portion of the Units of a Member pursuant to a levy of execution, foreclosure of pledge, garnishment, attachment, divorce decree, bankruptcy or other legal process (or by operation of law resulting from the death, disability, liquidation, dissolution or winding-up of a Member), such Member shall cease to be a Member, but any successor in title to the transferred Units shall have no right to become a Member except in compliance with Section 9.4. If such successor does not become a Member, such successor shall be merely an assignee within the meaning of Section 18-702(b)(1) of the Act.
Transfer by Legal Process. Upon any involuntary transfer of all or any portion of the Units of a Member pursuant to a levy of execution, foreclosure of pledge, garnishment, attachment, divorce decree, bankruptcy or other legal process (or by operation of law resulting from the death, disability, liquidation, dissolution or winding-up of a Member), such Member will cease to be a Member with respect to any Units so transferred and the transferee will have no right to become a Member or vote in any Company matters unless admitted by the affirmative vote of Members who hold at least a majority of the Voting Percentages (Special) (other than the Voting Percentages (Special) so transferred), and subject to compliance with the provisions of Section 9.
Transfer by Legal Process
