Transfer of All Securities. Upon the permitted Transfer by any Member, executor or other entity of all Units owned or held by him, her or it and, upon payment of any consideration to which such Member is entitled, such Member shall have no further rights or privileges under this Agreement or otherwise be entitled to the benefits hereof. However, such Transfer shall not relieve a Member, his or her executor or his, her or its successors or assigns from liability hereunder in the event of a breach by any such Member of his, her or its duties hereunder prior to such Transfer.
Appears in 7 contracts
Samples: Contribution Agreement (STR Holdings (New) LLC), Limited Liability Company Agreement (STR Holdings (New) LLC), Agreement and Plan of Merger (STR Holdings (New) LLC)