Common use of Transfers of LLC Units Clause in Contracts

Transfers of LLC Units. The Member may voluntarily sell, transfer, assign, encumber, pledge, convey, or otherwise dispose of part or all of Member’s membership interest, but only upon a majority Vote in interest of LLC Units allowing the transfer and admitting the new Member in accordance with Section 5.1, if the new Member does not already hold LLC Units in the Company.

Appears in 4 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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