Assignment of 50% or More of Interests. No assignment of any Interests may be made if the Interests to be assigned, when added to the total of all other Interests and Manager interests assigned within the 13 immediately preceding months, would, in the opinion of counsel for the Company, result in the termination of the Company under the Code.
Appears in 4 contracts
Samples: Operating Agreement, Operating Agreement, Limited Liability Company Agreement
Assignment of 50% or More of Interests. No Without the consent of the Members, no assignment of any Interests Interest may be made if the Interests Interest to be assigned, when added to the total percentage of all other Interests and Manager interests assigned within the 13 immediately preceding months, would, in the opinion of counsel for the Company, result in the termination of the Company under the Code.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Cottonwood Multifamily Reit I, Inc.), Limited Liability Company Agreement (Cottonwood Multifamily Reit Ii, Inc.)
