Rights of Unadmitted Assignees. A Person who acquires a Membership Interest but who is not admitted as a substituted Member pursuant to Section 10.5 shall be entitled only to allocations and distributions with respect to such Membership Interest in accordance with this Agreement, and, to the fullest extent permitted by law, shall have no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Delaware LLC Act or this Agreement.
Appears in 10 contracts
Sources: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement (Memorial Production Partners LP)
Rights of Unadmitted Assignees. A Person who acquires a Membership Interest but who is not admitted as a substituted Member pursuant to under Section 10.5 10.6 shall be entitled only to allocations and distributions with respect to such Membership Interest in accordance with this Agreement, and, to the fullest extent permitted by law, shall have no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights (including voting rights) of a Member under the Delaware LLC Act or this Agreement.
Appears in 4 contracts
Sources: Limited Liability Company Agreement (Mid-Con Energy Partners, LP), Limited Liability Company Agreement, Limited Liability Company Agreement (Mid-Con Energy Partners, LP)
Rights of Unadmitted Assignees. A Person who acquires a Membership Interest but who is not admitted as a substituted Member pursuant to Section 10.5 11.6 shall be entitled only to allocations and distributions with respect to such Membership Interest in accordance with this Agreement, and, to the fullest extent permitted by law, shall have no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Delaware LLC Act or this Agreement.
Appears in 4 contracts
Sources: Limited Liability Company Agreement (QR Energy, LP), Limited Liability Company Agreement (QR Energy, LP), Limited Liability Company Agreement (Energy Transfer Equity, L.P.)
Rights of Unadmitted Assignees. A Person who acquires a Membership Interest but who is not admitted as a substituted Member pursuant to Section 10.5 10.6 hereof shall be entitled only to allocations and distributions with respect to such Membership Interest in accordance with this Agreement, and, to the fullest extent permitted by law, and shall have no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Delaware LLC Act or this Agreement.
Appears in 4 contracts
Sources: Admission of Substituted Member (Environtech Inc.), Admission of Substituted Member (Environtech Inc.), Admission of Substituted Member (Environtech Inc.)
Rights of Unadmitted Assignees. A Person who acquires a Membership an Interest but who is not admitted as a substituted Member pursuant to Section 10.5 9.6 hereof shall be entitled only to allocations and distributions with respect to such Membership Interest in accordance with this Agreement, and, to the fullest extent permitted by law, and shall have no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Delaware LLC Act or this Agreement.
Appears in 4 contracts
Sources: Operating Agreement (Finova Group Inc), Operating Agreement (Leucadia National Corp), Operating Agreement (Finova Group Inc)
Rights of Unadmitted Assignees. A Person who acquires a Membership Interest but who is not admitted as a substituted Member pursuant to Section 10.5 shall be entitled only to allocations and distributions with respect to such Membership Interest in accordance with this Agreement, and, to the fullest extent permitted by lawLaw, shall have no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Delaware LLC Act or this Agreement.
Appears in 3 contracts
Sources: Limited Liability Company Agreement, Limited Liability Company Agreement (Sanchez Production Partners LP), Limited Liability Company Agreement (Constellation Energy Partners LLC)
Rights of Unadmitted Assignees. A Person who acquires a Membership an Interest but who is not admitted as a substituted Member pursuant to Section 10.5 10.6 shall be entitled only to allocations and distributions with respect to such Membership Interest in accordance with this Operating Agreement, and, to the fullest extent permitted by law, and shall have no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Delaware LLC Act or this Operating Agreement.
Appears in 3 contracts
Sources: Operating Agreement, LLC Operating Agreement, Operating Agreement
Rights of Unadmitted Assignees. A Person who acquires a Membership Interest Interests but who is not admitted as a substituted Member pursuant to Section 10.5 8.4 shall be entitled only to allocations and distributions with respect to such Membership Interest Interests in accordance with this Agreement, and, to the fullest extent permitted by law, Agreement and shall have no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Delaware LLC Act or this Agreement.
Appears in 3 contracts
Sources: Limited Liability Company Agreement (MCI Income Fund VII, LLC), Limited Liability Company Agreement (MCI Income Fund VII, LLC), Limited Liability Company Agreement (MCI Income Fund V, LLC)
Rights of Unadmitted Assignees. A Person who acquires a Membership an Interest but who is not admitted as a substituted Member pursuant to Section 10.5 10.6 shall be entitled only to allocations and distributions with respect to such Membership Interest in accordance with this Agreement, and, to the fullest extent permitted by law, shall have no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Delaware LLC Act or this Agreement.
Appears in 2 contracts
Sources: Operating Agreement (Atlas Pipeline Partners Lp), Operating Agreement (Atlas Pipeline Partners Lp)
Rights of Unadmitted Assignees. A Person who acquires a Membership an Interest but who is not admitted as a substituted Member pursuant to Section 10.5 10.6 hereof shall be entitled only to allocations and distributions with respect to such Membership Interest in accordance with this Agreement, and, to the fullest extent permitted by law, and shall have no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Delaware LLC Act or this Agreement.
Appears in 1 contract
Rights of Unadmitted Assignees. A Person who acquires a Membership an Interest or any portion of an Interest, but who is not admitted as a substituted Member pursuant to Section 10.5 9.2 hereof, shall be entitled only to allocations and distributions with respect to such Membership Interest in accordance with this Agreement, and, to the fullest extent permitted by law, but shall have no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Delaware LLC Act or this AgreementMember.
Appears in 1 contract
Sources: Operating Agreement
Rights of Unadmitted Assignees. A Person who acquires a Membership an Interest but who is not admitted as a substituted Member pursuant to Section 10.5 9.6 hereof shall be entitled only to allocations and distributions with respect to such Membership Interest in accordance with this Agreement, and, to the fullest extent permitted by law, and shall have no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Delaware LLC Act or this Agreement.
Appears in 1 contract
Rights of Unadmitted Assignees. A Person who acquires a Membership Interest but who is not admitted as a substituted Member pursuant to Section 10.5 11.7 hereof shall be entitled only to allocations and distributions with respect to such Membership Interest in accordance with this Agreement, and, to the fullest extent permitted by law, and shall have no right to any information or accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company, and shall not have any of the rights of a Member under the Delaware LLC Act or this Agreement.
Appears in 1 contract