Transferability of Units. The Units are transferable either voluntarily or by operation of law. All or any portion of the Units may be sold, assigned, transferred, exchanged, mortgaged, pledged, granted, hypothecated, encumbered or otherwise transferred (whether absolutely or as security). Upon the transfer of the Units, the transferee shall be admitted as a member at the time of the transfer and shall obtain all of the rights appurtenant to being a member of the Company.
Appears in 8 contracts
Samples: Limited Liability Company Agreement (William Underwood Co), Limited Liability Company Agreement (William Underwood Co), Limited Liability Company Agreement (William Underwood Co)
