Common use of Transfer in Violation Not Recognized Clause in Contracts

Transfer in Violation Not Recognized. Any assignment, sale, transfer, exchange or other disposition in contravention of the provisions of this Section 11 shall be void and ineffectual and shall not bind or be recognized by the Company. Upon the transfer of a Member’s Membership Interest in violation of this Agreement, the Membership Interest of a Member shall be converted to an Economic Interest.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (Cottonwood Multifamily Opportunity Fund, Inc.), Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.)

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Transfer in Violation Not Recognized. Any assignment, sale, transfer, exchange or other disposition in contravention of the provisions of this Section 11 9 shall be void and ineffectual and shall not bind or be recognized by the Company. Upon the transfer of a Member’s Membership Interest in violation of this Agreement, the Membership Interest of a Member shall be converted to an Economic Interest.

Appears in 2 contracts

Samples: Joint Venture Agreement (Cottonwood Multifamily Reit Ii, Inc.), Joint Venture Agreement (Cottonwood Multifamily Reit I, Inc.)

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Transfer in Violation Not Recognized. Any assignment, sale, transfer, exchange or other disposition in contravention of the provisions of this Section 11 9 shall be void and ineffectual and shall not bind or be recognized by the Company. Upon the transfer of a Member’s Membership Interest in violation of this Agreement, the Membership Interest of a Member shall be converted to an Economic Interest.. 9.7

Appears in 1 contract

Samples: Limited Liability Company Agreement (Cottonwood Multifamily Reit Ii, Inc.)

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