Common use of Transfer of Member Interest Clause in Contracts

Transfer of Member Interest. A Member may assign all or any portion of such Member’s Member Interest in the Company at any time upon the assumption by the assignee of all obligations of a Member under this Agreement. Upon any such assignment, the assignee shall succeed to the rights and obligations of the Member in respect of its Member Interest in the Company so transferred and (i) upon the assignment of 100% of the outstanding Member Interest in the Company held by a single Member to one or more assignees, each such assignee shall become a Member of the Company; (ii) upon any other assignment of Member Interest in the Company, such assignee shall become a Member in the Company upon the consent of all Members other than the assigning Member or, if the assigning Member shall be the sole Member immediately prior to such assignment, upon the consent of such assigning Member. A Member may hypothecate, pledge or encumber its interest at any time without the consent of the Company or the other Members. Notwithstanding anything to the contrary contained herein, no such transfer of a Member’s Member Interest in the Company shall operate to dissolve the Company.

Transfer of Member Interest. A Member may assign all or any portion of such Member’s Member Interest in the Company at any time upon the assumption by the assignee of all obligations of a Member under this Agreement. Upon any such assignment, the assignee shall succeed to the rights and obligations of the Member in respect of its Member Interest in the Company so transferred and (ia) upon the assignment of 100% of the outstanding Member Interest in the Company held by a single Member to one or more assignees, each such assignee shall become a Member of the Company; and (iib) upon any other assignment of Member Interest in the Company, such assignee shall become a Member in the Company upon the consent of all Members other than the assigning Member or, if the assigning Member shall be the sole Member immediately prior to such assignment, upon the consent of such assigning Member. A Member may hypothecate, pledge or encumber its interest at any time without the consent of the Company or the other Members. Notwithstanding anything to the contrary contained herein, no such transfer of a Member’s Member Interest in the Company shall operate to dissolve the Company.. LIMITED LIABILITY COMPANY AGREEMENT

Transfer of Member Interest. A Member may assign all or any portion of such Member’s Member Interest in the Company at any time upon the assumption by the assignee of all obligations of a Member under this Agreement. Upon any such assignment, the assignee shall succeed to the rights and obligations of the Member in respect of its Member Interest in the Company so transferred and (ia) upon the assignment of 100% of the outstanding Member Interest in the Company held by a LIMITED LIABILITY COMPANY AGREEMENT single Member to one or more assignees, each such assignee shall become a Member of the Company; and (iib) upon any other assignment of Member Interest in the Company, such assignee shall become a Member in the Company upon the consent of all Members other than the assigning Member or, if the assigning Member shall be the sole Member immediately prior to such assignment, upon the consent of such assigning Member. A Member may hypothecate, pledge or encumber its interest at any time without the consent of the Company or the other Members. Notwithstanding anything to the contrary contained herein, no such transfer of a Member’s Member Interest in the Company shall operate to dissolve the Company.

Transfer of Member Interest. A Member may assign all or any portion of such Member’s Member Interest in the Company at any time upon the assumption by the assignee of all obligations of a Member under this Agreement. Upon any such assignment, the assignee shall succeed to the rights and obligations of the Member in respect of its Member Interest in the Company so transferred and (ia) upon the assignment of 100% of the outstanding Member Interest in the Company held by a single Member to one or more assignees, each such assignee shall become a Member of the Company; and (iib) upon any other assignment of Member Interest in the Company, such assignee shall become a Member in the Company upon the consent of all Members other than the assigning Member or, if the assigning Member shall be the sole Member immediately prior to such assignment, upon the consent of such assigning Member. A Member may hypothecate, pledge or encumber its interest at any time without the consent of the Company or the other Members. Notwithstanding anything to the contrary contained herein, no such transfer of a Member’s Member Interest in the Company shall operate to dissolve the Company.

Transfer of Member Interest. A Member may assign all or any portion of such Member’s Member Interest interest in the Company at any time upon the assumption by the assignee of all obligations of a it Member under this Agreement. Upon any such assignment, assignment the assignee shall succeed to the rights and obligations of the Member in respect of its Member Interest in the Company so transferred and (i) upon the assignment of 100% of the outstanding Member Interest in the Company held by a single Member to one or more assignees, each such assignee shall become a Member of the Company; (ii) upon any other assignment of Member Interest in the Company, such assignee shall become a Member in the Company upon the consent of all Members other than the assigning Member or, if the assigning Member shall be the sole Member immediately Immediately prior to such assignment, upon the consent of such assigning Member. A Member may hypothecate, pledge or encumber its interest at any time title without the consent of the Company or the other Members. Notwithstanding anything to the contrary contained herein, no such transfer of a Member’s Member Interest interest in the Company shall operate to dissolve the Company.