Transfer of Member’s Unit. To the extent any of the following restrictions are not necessary to the Company, in the discretion of the Manager reasonably exercised; the Manager may eliminate or modify any restriction. Subject to the immediately preceding sentence, no assignee of the whole or any portion of a Member’s interest in the Company shall have the right to become a substituted Member in place of his assignor, unless the following conditions are first met:
Appears in 4 contracts
Samples: Operating Agreement (Bayou City Exploration, Inc.), Operating Agreement (Bayou City Exploration, Inc.), Operating Agreement (Bayou City Exploration, Inc.)