Common use of Disposition of Interests Clause in Contracts

Disposition of Interests. III.5.1 No Member shall Dispose of all or any part of its Membership Interest without the approval each of the other Members, except as provided below. Any attempted Disposition of a Membership Interest, or any part thereof, other than in accordance with either Section III.6 or Section III.7 shall be, and hereby is declared, null and void ab initio. III.5.2 No Member shall, directly or indirectly, sell, assign, transfer or otherwise dispose of (collectively, a "transfer") its Membership Interest or any part thereof, at any time, except for the transfers: (i) to an Entity wholly-owned (directly or indirectly) by one or more Members; or (ii) to the parent of any Member; or (iii) in the case of ▇▇▇▇▇▇ ▇▇▇▇, to ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ and/or any of his lineal descendants, any trust for the benefit of such person and any trustee thereof; or any Entity controlled by any of the foregoing; (iv) in the case of ▇▇▇▇▇▇ Hill, to ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, and/or any of his lineal descendants, any trust for the benefit of such person and any trustee thereof; or any Entity controlled by any of the foregoing; (v) in the case of a Member that is a natural person, to any spouse or direct lineal descendants of such Member (an "Heir"), or a trust, corporation or partnership for the benefit of such member and/or one or more of such Member's Heirs;