Common use of Transferor’s Membership Status Clause in Contracts

Transferor’s Membership Status. If a Member Transfers less than all of his, her, or its Membership Interest, the Member’s rights with respect to the transferred portion of the Membership Interest, including the right to vote or otherwise participate in the Company’s governance and the right to receive Distributions, will terminate as of the effective date of the Transfer. However, the Member will remain liable for any obligation with respect to the transferred portion that existed prior to the effective date of the Transfer, including (without limitation) any costs or damages resulting from the Member’s breach of this Agreement. If the Member Transfers all of his, her or its Membership Interest, the Transfer will constitute an event of Dissociation.

Transferor’s Membership Status. If a Member Transfers less than all of his, her, or its Membership InterestUnits, the Member’s rights with respect to the transferred portion of the Membership InterestUnit, including the right to vote or otherwise participate in the CompanyLLC’s governance and the right to receive Distributions, will terminate as of the effective date of the Transfer. However, the Member will remain liable for any obligation with respect to the transferred portion that existed prior to the effective date of the Transfer, including (without limitation) any costs or damages resulting from the Member’s breach of this Agreement. If the Member Transfers all of his, her or its Membership InterestUnits, the Transfer will constitute an event of Dissociation.

Transferor’s Membership Status. If a Member Transfers less than all of his, her, or its Membership InterestInterests, the Member’s rights with respect to the transferred portion of the Membership Interest, including the right to vote or otherwise participate in the Company’s governance and the right to receive Distributions, will terminate as of the effective date of the Transfer. However, the Member will remain liable for any obligation with respect to the transferred portion that existed prior to the effective date of the Transfer, including (without limitation) any costs or damages resulting from the Member’s breach of this Agreement. If the Member Transfers all of his, her or its Membership InterestInterests, the Transfer will constitute an event of Dissociation.

Transferor’s Membership Status. If a Member Transfers less than all of his, her, or its Membership InterestInterest in a Series, the Member’s rights with respect to the transferred portion of the Membership Interest, including the right to vote or otherwise participate in the Company’s governance and the right to receive Distributions, will terminate as of the effective date of the Transfer. However, the Member will remain liable for any obligation with respect to the transferred portion that existed prior to the effective date of the Transfer, including (without limitation) any costs or damages resulting from the Member’s breach of this Agreement. If the Member Transfers all of his, her her, or its Membership Interest, the Transfer will constitute an event of Dissociation.

Transferor’s Membership Status. If a Member Transfers less than all of his, her, or its Membership InterestInterests, the Member’s rights with respect to the transferred portion of the Membership Interest, including the right to vote or otherwise participate in the Company’s governance and the right to receive Distributions, will terminate as of the effective date of the Transfer. However, the Member will remain liable for any obligation with respect to the transferred portion that existed prior to the effective date of the Transfer, including (without limitation) any costs or damages resulting from the Member’s breach of this Agreement. If the Member Transfers all of his, her or its Membership InterestInterests, the Transfer will constitute an event of Dissociation.. LIMITED LIABILITY COMPANY OPERATING AGREEMENT PFG Fund V, LLC

Transferor’s Membership Status. If a Member Transfers less than all of his, her, or its such Member’s Membership Interest, the Member’s rights with respect to the transferred portion of the Membership Interest, including the right to vote or otherwise participate in the Company’s governance and the right to receive Distributionsdistributions, will terminate as of the effective date of the Transfer. HoweverIf the Member Transfers all of such Member’s Membership Interest, all of such Member’s rights as a Member under this Agreement shall terminate upon such Transfer. Notwithstanding the foregoing, the Member will remain liable for any obligation with respect to the transferred portion of the Membership Interest that existed prior to the effective date of the Transfer, including (without limitation) any costs or damages resulting from the Member’s breach of this Agreement. If the Member Transfers all of his, her or its Membership Interest, the Transfer will constitute an event of Dissociation.

Transferor’s Membership Status. If a Member Transfers less than all of his, her, or its Membership Interest, the Member’s rights with respect to the transferred portion of the Membership Interest, including the right to vote or otherwise participate in the CompanyLLC’s governance and the right to receive Distributions, will terminate as of the effective date of the Transfer. However, the Member will remain liable for any obligation with respect to the transferred portion that existed prior to the effective date of the Transfer, including (without limitation) any costs or damages resulting from the Member’s breach of this Agreement. If the Member Transfers all of his, her or its Membership Interest, the Transfer will constitute an event of Dissociation.

Transferor’s Membership Status. If a Member Transfers less than all of his, her, or its Membership Interest, Units the Member’s rights with respect to the transferred portion of the Membership InterestUnits, including the right to vote or otherwise participate in the CompanyLLC’s governance and the right to receive Distributions, will terminate as of the effective date of the Transfer. However, the Member will remain liable for any obligation with respect to the transferred portion that existed prior to the effective date of the Transfer, including (without limitation) any costs or damages resulting from the Member’s breach of this Agreement. If the Member Transfers all of his, her or its Membership InterestUnits, the Transfer will constitute an event of Dissociation.

Transferor’s Membership Status. If a Member Transfers less than all of his, her, or its such Member"s Membership Interest, the Member’s Member"s rights with respect to the transferred portion of the Membership Interest, including the right to vote or otherwise participate in the Company’s Company"s governance and the right to receive Distributionsdistributions, will terminate as of the effective date of the Transfer. HoweverIf the Member Transfers all of such Member"s Membership Interest, all of such Member"s rights as a Member under this Agreement shall terminate upon such Transfer. Notwithstanding the foregoing, the Member will remain liable for any obligation with respect to the transferred portion of the Membership Interest that existed prior to the effective date of the Transfer, including (without limitation) any costs or damages resulting from the Member’s Member"s breach of this Agreement. If the Member Transfers all of his, her or its Membership Interest, the Transfer will constitute an event of Dissociation.

Transferor’s Membership Status. If a Member Transfers transfers less than all of his, her, or its Membership InterestUnit, the Member’s rights with respect to the transferred portion of the Membership InterestUnit, including the right to vote or otherwise participate in the Company’s Series’ governance and the right to receive Distributions, will terminate as of the effective date of the Transfer. However, the Member will remain liable for any obligation with respect to the transferred portion that existed prior to the effective date of the Transfer, including (without limitation) any costs or damages resulting from the Member’s breach of this Agreement. If the Member Transfers all of his, her or its Membership InterestUnit, the Transfer will constitute an event of Dissociation.

Transferor’s Membership Status. If a Member Transfers less than all of his, her, or its Membership InterestUnits, the Member’s 's rights with respect to the transferred portion of the Membership InterestUnits, including the right to vote or otherwise participate in the CompanyFund’s governance and the right to receive Distributions, will terminate as of the effective date of the Transfer. However; however, the Member will remain liable for any obligation with respect to the then transferred portion that existed prior to the effective date of the Transfer, including (without limitation) any costs or damages resulting from the Member’s 's breach of this Agreement. If the Member Transfers all of his, her or its Membership InterestUnits, the Transfer will constitute an event of Dissociation.

Transferor’s Membership Status. If a Member Transfers less than all of his, her, or its such Member's Membership Interest, the Member’s 's rights with respect to the transferred portion of the Membership Interest, including the right to vote or otherwise participate in the Company’s 's governance and the right to receive Distributionsdistributions, will terminate as of the effective date of the Transfer. HoweverIf the Member Transfers all of such Member's Membership Interest, all of such Member's rights as a Member under this Agreement shall terminate upon such Transfer. Notwithstanding the foregoing, the Member will remain liable for any obligation with respect to the transferred portion of the Membership Interest that existed prior to the effective date of the Transfer, including (without limitation) any costs or damages resulting from the Member’s 's breach of this Agreement. If the Member Transfers all of his, her or its Membership Interest, the Transfer will constitute an event of Dissociation.