Void Assignment. Any Transfer by any Member in contravention of this Agreement shall be void and ineffectual and shall not bind or be recognized by the Company or any other party. In the event of any Transfer in contravention of this Agreement, the purported transferee shall have no right to any Profits, Losses or distributions of the Company or any other rights of a Member.
Appears in 2 contracts
Sources: Limited Liability Company Operating Agreement, Limited Liability Company Agreement (Hanson Luise V)
Void Assignment. Any Transfer by any Member in contravention of --------------- this Agreement shall be void and ineffectual and shall not bind or be recognized by the Company or any other party. In the event of any Transfer in contravention of this Agreement, the purported transferee shall have no right to any Profitsprofits, Losses losses or distributions of the Company or any other rights of a Member.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Petersen Holdings LLC), Limited Liability Company Agreement (Petersen Holdings LLC)
Void Assignment. Any Transfer by any Member in contravention of this Agreement shall be void and ineffectual and shall not bind or be recognized by the Company or any other party. In the event of any Transfer in contravention of this Agreement, 52 <PAGE> the purported transferee shall have no right to any Profitsprofits, Losses losses or distributions of the Company or any other rights of a Member.
Appears in 1 contract
Sources: Limited Liability Company Agreement