Common use of Xxxxx Member Permitted Transfers Clause in Contracts

Xxxxx Member Permitted Transfers. Subject to Section 7.2, the Hines Member at any time without the consent of BMDC may Transfer all or any portion of its Interest to any Xxxxx Affiliate, provided that (i) the Hines Member notifies BMDC in writing of such Transfer at least ten (10) business days prior to the date of the Transfer, (ii) such Transfer shall not violate any of the terms of any financing documents or other obligations of the Company approved by the Hines Member, and any guaranty given to such lender for the benefit of the Company remains in full force and effect and (iii) the transferee must assume all of the obligations of the Xxxxx Member thereafter accruing with respect to such interest Transferred arising hereunder and under all agreements given by the Xxxxx Member to third parties, to the extent of the interest Transferred.