Common use of Transfer of Capital Accounts Clause in Contracts

Transfer of Capital Accounts. Notwithstanding anything herein to the contrary, each Member who Transfers an Interest (or a portion thereof) shall be deemed to have Transferred the entire Interest, including the balance in the Capital Account with respect to such Interest (or, if a portion of an Interest is being Transferred, a proportionate amount of the balance in the Capital Account with respect to such Interest) to the Transferee. [[6065250]]

Appears in 2 contracts

Samples: Operating Agreement (Lazard LTD), Operating Agreement (Lazard Group LLC)

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Transfer of Capital Accounts. Notwithstanding anything herein to the contrary, each Member who Transfers an Interest (or a portion thereof) shall be deemed to have Transferred the entire Common Interest, including the balance in the Common Capital Account with respect to such Interest (or, if a portion of an a Common Interest is being Transferred, a proportionate amount of the balance in the Common Capital Account with respect to such Interest) to the Transferee. SECTION 7.03. [[6065250Reserved.]]

Appears in 2 contracts

Samples: Operating Agreement (Lazard LTD), Operating Agreement (Lazard Group LLC)

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Transfer of Capital Accounts. Notwithstanding anything herein to the contrary, each Member who Transfers an Interest (or a portion thereof) shall be deemed to have Transferred the entire Interest, including the balance in the Capital Account with respect to such Interest (or, if a portion of an Interest is being Transferred, a proportionate amount of the balance in the Capital Account with respect to such Interest) to the Transferee. [[6065250]].

Appears in 1 contract

Samples: Operating Agreement (Lazard LTD)

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