TRANSFER OF UNITS OF MEMBERS. (a) No Transfer of any Member's Units, whether voluntary or involuntary, shall be valid or effective, and no transferee shall become a substituted Member, unless the prior written consent of the Manager has been obtained, which consent may be withheld in its sole and absolute discretion. In the event of any Transfer, all of the conditions of the remainder of this Section 5.2 must also be satisfied.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Graham Alternative Investment Fund I LLC), Limited Liability Company Agreement (Graham Alternative Investment Fund I LLC), Limited Liability Company Agreement (Graham Alternative Investment Fund I LLC)
TRANSFER OF UNITS OF MEMBERS. (a) No Transfer of any Member's ’s Units, whether voluntary or involuntary, shall be valid or effective, and no transferee shall become a substituted Member, unless the prior written consent of the Manager has been obtained, which consent may be withheld in its sole and absolute discretion. In the event of any Transfer, all of the conditions of the remainder of this Section 5.2 must also be satisfied.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Graham Alternative Investment Fund I LLC)
