Common use of TRANSFER OF INTEREST OF MANAGING MEMBER Clause in Contracts

TRANSFER OF INTEREST OF MANAGING MEMBER. A Managing Member may not Transfer its Interest as the Managing Member except with the consent of the Board of Directors and only to a Person who has agreed to be bound as a Managing Member of the Fund by all of the terms of this Agreement and applicable law. If a Managing Member Transfers its entire Interest as Managing Member, it will not cease to be a Managing Member unless and until the transferee is admitted to the Fund as a substitute Managing Member in accordance with Section 2.6 of this Agreement. In executing this Agreement, each Member is deemed to have consented to any Transfer contemplated by this Section 4.3.

TRANSFER OF INTEREST OF MANAGING MEMBER. A Managing Member may not Transfer its Interest as the Managing Member except with the consent of the Board of Directors and only to a Person who has agreed to be bound as a Managing Member of the Fund by all of the terms of this Agreement and applicable law. If a Managing Member Transfers its entire Interest as Managing Member, it will not cease to be a Managing Member unless and until the transferee is admitted to the Fund as a substitute Managing Member in accordance with Section 2.6 2.6(a) of this Agreement. In executing this Agreement, each Member is deemed to have consented to any Transfer contemplated by this Section 4.3.

TRANSFER OF INTEREST OF MANAGING MEMBER. A Managing Member may not Transfer its Interest as the Managing Member managing member except with the consent of the Board of Directors and only to a Person who has agreed to be bound as a Managing Member managing member of the Fund by all of the terms of this Agreement and applicable law. If a Managing Member Transfers its entire Interest as Managing Membermanaging member, it will not cease to be a Managing Member managing member unless and until the transferee is admitted to the Fund as a substitute Managing Member managing member in accordance with Section 2.6 of this Agreement. In executing this Agreement, each Member is deemed to have consented to any Transfer contemplated by this Section 4.3.