Common use of Definition of Transfer Clause in Contracts

Definition of Transfer. For purposes of this Agreement the term "Transfer" means, with respect to all or any portion of a Member's Interest in the Company, any sale, gift, bequest, assignment, conveyance, transfer, pledge, grant of a security interest, collateral assignment or other disposition of all or any portion of such Interest, whether voluntary or involuntary, including any of the foregoing that occur by operation of law. The transfer of any Membership Interest by a Member to any of its Affiliates is specifically permitted, and excluded from the definition of "Transfer" described in this paragraph.