Common use of Nonrecognition of an Unauthorized Transfer Clause in Contracts

Nonrecognition of an Unauthorized Transfer. The Company will not be required to recognize the Interest of any Transferee or assignee who has obtained a purported Interest as the result of a transfer or assignment that is not authorized by this Agreement. If there is a doubt as to ownership of an Interest or who is entitled to Distributable Cash or liquidating proceeds, the Managers may accumulate Distributable Cash or liquida­tion proceeds until the issue is resolved to the Managers’ satisfaction.

Nonrecognition of an Unauthorized Transfer. The Company will not be required to recognize the Interest interest of any assignee or Transferee or assignee who has obtained a purported Interest as the result of a transfer or assignment that is not authorized by this Agreement. If there is a doubt as to ownership of an Interest or who is entitled to Distributable Cash or liquidating proceeds, the Managers Manager may accumulate Distributable Cash or liquida­tion liquidation proceeds until the issue is resolved to the Managers’ Manager' satisfaction.

Nonrecognition of an Unauthorized Transfer. The Company will not be required to recognize the Interest of any Transferee or assignee who has obtained a purported Interest as the result of a transfer or assignment that is not authorized by this Agreement. If there is a doubt as to ownership of an Interest or who is entitled to Distributable Cash or liquidating proceeds, the Managers may accumulate Distributable Cash or liquida­tion liquidation proceeds until the issue is resolved to the Managers’ satisfaction.