Limit on Number of Members. Unless otherwise permitted by the REIT Managing Member, no Person shall be admitted to the Company as an Additional Member if the effect of such admission would be to cause the Company to have a number of Members that would cause the Company to become a reporting company under the Exchange Act.
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Sources: Limited Liability Company Operating Agreement (Reliance Real Estate Trust, LLC)
Limit on Number of Members. Unless otherwise permitted by the REIT Managing Member, no Person shall be admitted to the Company as an Additional Member if the effect of such admission would be to cause the Company to have a number of Members that would cause the Company to become a reporting company under the Exchange Act.
Appears in 1 contract