Invalid Assignment. Any purported assignment of an Interest of an Investor Member or Special Member otherwise than in accordance with Section 12.1 or Section 12.6 shall be of no effect as between the Company and the purported assignee and shall be disregarded by the Managing Member in making allocations and Distributions hereunder.
Appears in 1 contract
Sources: Operating Agreement (WNC Housing Tax Credit Fund Vi Lp Series 7)
Invalid Assignment. Any purported assignment of an Interest interest of an Investor Member or Special a Member otherwise than in accordance with Section 12.1 12.3 or Section 12.6 12.8 shall be of no effect as between the Company and the purported assignee and shall be disregarded by the Managing Member in making allocations and Distributions hereunder.
Appears in 1 contract
Sources: Operating Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5)