Common use of Rights of Unadmitted Transferees Clause in Contracts

Rights of Unadmitted Transferees. Subject to Section 8.4.7, a Person who becomes a Transferee of Interest but who is not admitted as a Partner pursuant to Section 8.3 shall be entitled only to allocations and Distributions with respect to such Interest in accordance with this Agreement. Such Person shall have no Partnership Rights, no right to appoint Representatives, no voting rights, no right to participate in the management of the business or to see books and records and shall not have any of the rights of a Partner under this Agreement.

Rights of Unadmitted Transferees. Subject to Section 8.4.7, a A Person who becomes a Transferee of Interest but who is not admitted as a Partner Member pursuant to Section 8.3 8.4 shall be entitled only to allocations and Distributions with respect to such Interest in accordance with this Agreement. Such Person shall have no Partnership Membership Rights, no right to appoint RepresentativesManagers, no voting rights, no right to participate in the management of the business or business, to see books and records records, and shall not have any of the rights of a Partner Member under the Act or this Agreement.