Substitution Instrument. Subject to full compliance with the terms and provisions of this Agreement, any instrument reflecting the assignment of the Company interest of a Member and the admission of the transferee as a Substituted Member of the Company need only be executed and acknowledged by a Manager, the transferor and the transferee.
Appears in 3 contracts
Sources: Operating Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement (Pico Holdings Inc /New)