Common use of Pledge of Units Clause in Contracts

Pledge of Units. (a) Notwithstanding anything contained herein to the contrary, any Member shall have the ability to pledge any Unit(s) owned by such Member and such pledge shall not be a "Transfer" of such Unit(s) for purposes of this Agreement. (b) Upon the Transfer of Units owned by H&E Holdings pursuant to a pledge of such Units to a lending institution in connection with the borrowing of funds by the Company or H&E Holdings from such lending institution, without need for any further action or notice under this Agreement, the transferee of such Units shall be admitted as a Member of the Company and shall acquire all right, title and interest in such Units, including all rights under this Agreement, and H&E Holdings shall be withdrawn as a Member hereunder with respect to such Units and shall have no further right, title or interest in such Units or under this Agreement.

Pledge of Units. (a) Notwithstanding anything contained herein to the contrary, any Member shall have the ability to pledge any Unit(s) owned by such Member and such pledge shall not be a "“Transfer" ” of such Unit(s) for purposes of this Agreement. (b) Upon the Transfer of Units owned by H&E Holdings a Member pursuant to a pledge of such Units to a lending institution in connection with the borrowing of funds by the Company Company, such Member or H&E Holdings such Member’s parent company from such lending institution, without need for any further action or notice under this Agreement, the transferee of such Units shall be admitted as a Member of the Company and shall acquire all right, title and interest in such Units, including all rights under this Agreement, and H&E Holdings such Member shall be withdrawn as a Member “Member” hereunder with respect to such Units and shall have no further right, title or interest in such Units or under this Agreement.