Common use of Transfer or Assignment of Member’s Interest Clause in Contracts

Transfer or Assignment of Member’s Interest. The Interest of each Member constitutes personal property of the Member. No Member has by reason of such Interest an interest in the Property.

Transfer or Assignment of Member’s Interest. The Interest of each Member and the Economic Interest of a Person who is not a Member constitutes personal property of the MemberMember or Economic Interest holder. No Each Member and each Economic Interest holder has by reason of such Interest an no interest in the Property.