Assignability of Units. Members may not make Transfers of Units, in whole or in part, except in accordance with Section 6.04 or by other operation of law, or in accordance with the terms and conditions set forth in this Article VII or otherwise in this Agreement. Each holder of Units agrees and acknowledges that the Units have not been registered under the Securities Act, and that the Units may not be transferred except in a transaction exempt from, or not subject to, the registration requirements of the Securities Act or any other applicable federal or state securities laws or regulations, in which case the Investment Manager may require that the Member provide certain supporting evidence regarding satisfaction of this condition (including a legal opinion in writing and in form and substance reasonably satisfactory to the Investment Manager). Transfers shall not violate any applicable economic sanctions or anti-money laundering laws and must be consistent with the Company’s REIT qualification requirements, as determined by the Company in its sole discretion.
Appears in 3 contracts
Sources: Limited Liability Company Operating Agreement (AB Commercial Real Estate Private Debt Fund, LLC), Limited Liability Company Operating Agreement (AB Commercial Real Estate Private Debt Fund, LLC), Limited Liability Company Operating Agreement (AB Commercial Real Estate Private Debt Fund, LLC)