No Redemption of Class A Shares. A Member shall not be permitted to redeem, and the LLC and Managing Member shall have no power or right to redeem from any Member, Class A Units, and no Member shall have any right to receive from the LLC Class A Shares, in each case, until the dissolution and liquidation of the LLC. Any purported redemption of Class A Units or receipt of Class A Shares from the LLC before the dissolution and liquidation of the LLC shall be void.
Appears in 2 contracts
Sources: Limited Liability Company Operating Agreement (Baker Adolphus B), Limited Liability Company Operating Agreement (Baker Adolphus B)