Non-Compliant Transfer. Any proposed Transfer of a Membership Interest that does not satisfy the conditions for such Transfer set forth in this Agreement shall be null and void ab initio and shall not be recognized by the Company for any purpose. Unless and until all of the requirements of this Agreement have been satisfied with respect to a proposed Transfer of a Membership Interest, the Company shall (a) continue to treat the transferor of such Membership Interest as the sole owner of the Membership Interest for all purposes hereunder and incur no liability for allocations or distributions made to such transferor with respect to such Membership Interest, (b) make no allocations or distributions to the proposed transferee with respect to such Membership Interest, (c) not furnish to such transferee any tax, financial or other information regarding the Company with respect to such Membership Interest and (d) not otherwise treat such proposed transferee as the legal or equitable owner of such Membership Interest, except and only to the extent as required by Applicable Law.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Soluna Holdings, Inc), Limited Liability Company Agreement (Soluna Holdings, Inc)