Authorized Transfers. Subject to complying with the conditions of Section 12.3, each Member and Unit Holder may Transfer all or any part of its Units in the Company to a transferee, by giving written notice of such Transfer to the Manager, and the transferee thereof will become a Unit Holder as to the transferred interest having the rights and subject to the obligations specified in this Article XII. Such a Transfer shall, however, not cause such transferee to be admitted as a Member, unless the Manager's consent thereto is granted under Section 12.6.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Luna Azul Development Fund, LLC), Limited Liability Company Agreement (Luna Azul Development Fund, LLC), Limited Liability Company Agreement (Luna Azul Development Fund, LLC)
Authorized Transfers. Subject to complying with the conditions of Section 12.38.3, each Member and Unit Holder may Transfer all or any part of its Units in the Company to a transferee, by giving written notice of such Transfer to the Manager, and the transferee thereof will become a Unit Holder as to the transferred interest having the rights and subject to the obligations specified in this Article XIIVIII. Such a Transfer shall, however, not cause such transferee to be admitted as a Member, unless the Manager's consent thereto is granted under Section 12.68.6.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Golden Pacific Homes, LLC), Limited Liability Company Agreement (Golden Pacific Homes, LLC)
