Rights As Assignee Sample Clauses

The "Rights As Assignee" clause defines the legal rights and entitlements that a party receives when a contract or specific contractual rights are assigned to them. In practice, this clause clarifies that the assignee steps into the shoes of the original party (the assignor) and may exercise the same rights, such as receiving payments or enforcing obligations, as specified in the original agreement. This provision ensures that the transfer of rights is clear and enforceable, preventing disputes over what the assignee can or cannot do under the contract.
Rights As Assignee. A Person Who acquires Units (other than a Person who was a Member before such acquisition) but who is not admitted to the Company as a Substitute Member shall have only the right to receive the distributions and allocations of Profits and Losses to which the Person would have been entitled under this Agreement with respect to the Transferred Units, hut shall have no right to participate in the management of the Company, no right to inspect the books and records of the Company, no right to vote its/his Units on any matter brought before the Members (except to the extent required by applicable law), and no other rights afforded to Members under this Agreement. Any distribution to such purported transferee may be applied (without limiting any other legal or equilable rights of the Company) to satisfy any debts, obligations, or liabilities for damages that the transferor or transferee may have to the Company.
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Rights As Assignee. A non-Member who acquires Units (and any Member if the transferor directs in writing to the contrary as provided in Section 11.5(b)) and who is not admitted to the Company as a Substitute Member shall have only the right to receive the distributions and allocations of Profits and Losses to which such Person would have been entitled under this Agreement with respect to the transferred Units, but shall have no right to participate in Company management, no right to inspect Company books and records, and no other rights accorded Members under this Agreement. Any distributions to such purported transferee may be applied (without limiting any other legal or equitable rights of the Company) to satisfy any debts, obligations, or liabilities for damages that the transferor or transferee may have to the Company.
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Rights As Assignee. A Person who acquires Units but who is not admitted to the Company as a Substitute Member shall have only the right to receive the distributions and allocations of Profits and Losses to which the Person would have been entitled under this Agreement with respect to the transferred Units, but shall have no right to vote or otherwise participate in the management of the Company, no right to inspect the books and records of the Company, and no other rights afforded to Members under this Agreement. Any distributions to such purported transferee may be applied (without limiting any other legal or equitable rights of the Company) to satisfy any debts, obligations, or liabilities for damages that the transferor or transferee may have to the Company. Notwithstanding the foregoing, this Section 11.5 shall not apply to any Person who was a Member before acquiring the Units at issue, unless the transferee of such Units has determined to the contrary as provided in Section 11.2.
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Rights As Assignee. A Person who acquires Membership Units (other than a Person who is a Member at the time of such Transfer) but who is not admitted to the Company as a Substitute Member or Additional Member pursuant to the provisions of Section 7.5 has only an Economic Interest to which the Person would have been entitled under this Agreement with respect to the transferred Membership Units, and does not have the right to participate in the management of the Company, Voting Interests, or other rights accorded to Members under this Agreement.
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Rights As Assignee. A Person who acquires Units (other than a Person who was a Member before such acquisition) but who is not admitted to the Company as a Substitute Member shall have only the right to receive the distributions and allocations of Profits and Losses to which the Person would have been entitled under this Agreement with respect to the transferred Units, but shall have no right to participate in the management of the Company, no right to inspect the books and records of the Company, and no other rights accorded to Members under this Agreement.
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Related to Rights As Assignee

  • Rights as a Bank With respect to its commitment, the Loans made by it and the Notes issued to it, the Agent shall have the same rights and powers hereunder as any Bank and may exercise the same as though it were not the Agent, and the terms "Bank" and "Banks" shall, unless the context otherwise indicates, include the Agent in its individual capacity. The Agent may accept deposits from, lend money to and generally engage in any kind of banking or trust business with the Borrower as if it were not the Agent.

  • Rights as a Shareholder The Optionee shall have no rights as a shareholder with respect to any shares which may be purchased by exercise of this option (including, without limitation, any rights to receive dividends or non-cash distributions with respect to such shares) unless and until a certificate representing such shares is duly issued and delivered to the Optionee. No adjustment shall be made for dividends or other rights for which the record date is prior to the date such stock certificate is issued.

  • Rights as a Lender The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders.

  • No Rights as a Shareholder Except as otherwise provided herein, the Warrantholder will not, by virtue of ownership of the Warrant, be entitled to any rights of a shareholder of the Company but will, upon written request to the Company, be entitled to receive such quarterly or annual reports as the Company distributes to its shareholders.

  • Rights as a Stockholder The Participant shall have no rights as a stockholder with respect to any shares covered by the Option unless and until the Participant has become the holder of record of the shares, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of any such shares, except as otherwise specifically provided for in the Plan.