Binding on Transferees. (a) Anything herein to the contrary notwithstanding, no Transfer (by operation of law or otherwise) of any of the Shares or any right to obtain Shares shall have any force, validity or effect, or vest in the transferee any rights with respect thereto, unless and until (i) the restrictions regarding such transaction contained in this Agreement shall have been complied with and (ii) such transferee shall have agreed in writing to be bound by the provisions of this Agreement with the same force and effect as if such transferee had initially been a party to this Agreement, and such transferee shall thereafter be deemed to be a Member for purposes of this Agreement. (b) Except as otherwise expressly provided herein, the provisions of this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns, including, without limitation, all subsequent holders of any Shares.
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Sources: Operating Agreement (Innotrac Corp)
Binding on Transferees. (a) Anything herein to the contrary notwithstanding, no Transfer (by operation of law or otherwise) of any of the Shares or any right to obtain Shares shall have any force, validity or effect, or vest in the transferee any rights with respect thereto, unless and until (i) the restrictions regarding such transaction contained in this Agreement shall have been complied with and (ii) such transferee shall have agreed in writing to be bound by the provisions of this Agreement with the same force and effect as if such transferee had initially been a party to this Agreement, and such transferee shall thereafter be deemed to be a Member Shareholder for purposes of this Agreement.
(b) Except as otherwise expressly provided herein, the provisions of this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns, including, without limitation, all subsequent holders of any Shares.
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