Transfers of Membership Interests. (a) Upon the transfer of a Member's entire membership interest, the Capital Account of such Member shall carry over to the transferee. (b) Upon the transfer of a portion of a Member's membership interest, the portion of such Member's Capital Account attributable to the transferred portion shall carry over to the transferee.
Appears in 1 contract
Samples: Limited Liability Company Agreement (CBL & Associates Properties Inc)
Transfers of Membership Interests. (a) Upon the transfer of a Member's entire membership interest, the Capital Account of such Member shall carry over to the transferee.
(bq) Upon the transfer of a portion of a Member's membership interest, the portion of such Member's Capital Account attributable to the transferred portion shall carry over to the transferee.
Appears in 1 contract
Samples: Master Transaction Agreement (CBL & Associates Properties Inc)
Transfers of Membership Interests. (a) Upon the transfer of a Member's entire membership interest, the Capital Account of such Member shall carry over to the transferee.
(b) Upon the transfer of a portion of a Member's membership interest, the portion of such Member's Capital Account attributable to the transferred portion shall carry over to the transferee.. ARTICLE III
Appears in 1 contract
Samples: Limited Liability Company Agreement (CBL & Associates Properties Inc)
Transfers of Membership Interests. (a) Upon the transfer of a Member's ’s entire membership interest, the Capital Account of such Member shall carry over to the transferee.
(b) Upon the transfer of a portion of a Member's membership interest, the portion of such Member's Capital Account attributable to the transferred portion shall carry over to the transferee.
Appears in 1 contract
Samples: Limited Liability Company Agreement (CBL/Regency I, LLC)
