Examples of Assignee Interest in a sentence
In addition to the other limitations and restrictions set forth in this ARTICLE 13, except as expressly permitted by Section 13.2 hereof, no Person (whether such Person is a Member or a Holder who holds only an Assignee Interest) shall sell or similarly dispose of all or any portion of his Membership Interest or Assignee Interest unless such Member first offers to sell such Membership Interest strictly in accordance with the terms and conditions set forth in this Section 13.4 and Section 13.11.
On the Effective Date and concurrently with the contribution and assumption of the Contributed REIT Interest and Contributed Assignee Interest contemplated herein, (a) Assignee shall issue the Assignee Units to Assignor and (b) the REIT shall issue the REIT Shares to Assignor.
In connection with any purchase or sale of a Membership or Assignee Interest, each Member and Assignee irrevocably appoints the Company as his attorney-in-fact for the purpose of executing any and all documents in his name for the purpose of completing such a purchase or sale.
The Assignee of a Membership Interest and any person who acquires a charging order against a Membership Interest shall report income, gains, losses, deductions, and credits regarding the interest for the period in which the Assignee Interest is held or for the period the charging order is outstanding.
In the merger, each OTEF Beneficial Assignee Interest ("BAC") converted into the right to receive (i) 0.547 shares of Aimco Class P convertible cumulative preferred stock and (ii) 0.299 shares of Aimco Class A common stock based on a $48.51 per share price.
Further, the allocations and distributions provided by this Agreement with respect to such Assignee Interest may be applied (without limiting any other legal or equitable rights of the Company) to satisfy any debts, obligations, or liabilities for damages that the transferor or transferee of such Membership Interest or Assignee Interest may have to the Company.
Except as otherwise expressly permitted or required by this Agreement, no Member may Transfer or offer to Transfer all, or any portion of, or any interest or rights in, the Membership Interest Rights owned by the Member, and no Holder may Transfer all, or any portion of, or any interest or rights in, any Assignee Interest held by such Holder.
The transferee of all or any portion of a Membership Interest or Assignee Interest who is not admitted as a Substitute Member pursuant to Section 13.7 hereof is a Holder, and the Transferred Membership Interest is an Assignee Interest.
In accordance with the terms of this Agreement, (a) Assignor hereby contributes the Contributed REIT Interest to the REIT, (b) Assignor hereby contributes the Contributed Assignee Interest to the Assignee and (c) the REIT hereby contributes the Contributed REIT Interest to the Assignee.
If the Company is continued as provided in Section 7.1.2, the Assignee Interest Holder shall have all the rights of an Economic Interest Holder but shall not have the right to vote or exercise any other rights of a Member unless and until the Assignee has satisfied the requirements set forth in Section 6.2.6.