LLC Interest Assignment Clause Samples
The LLC Interest Assignment clause governs the transfer of ownership interests in a limited liability company from one party to another. It typically outlines the conditions under which a member may assign their interest, such as requiring approval from other members or compliance with specific procedures. This clause ensures that all parties are aware of and agree to changes in membership, thereby maintaining control over who can become a member and protecting the company from unwanted or unauthorized transfers.
LLC Interest Assignment. The term shall have the meaning set forth in Section 4.2.
LLC Interest Assignment. Seller shall also deliver to Buyer two (2) original counterparts of the LLC Interest Assignment and Assumption Agreement for each SPE. The LLC Interest Assignment and Assumption Agreement for each SPE shall be in substantially the form of Exhibit C (the “LLC Interest Assignment”), each such counterpart being properly executed by an authorized representative of Seller and Buyer. The LLC Interest Assignment shall convey all of Seller’s right, title and interest, without reservations or restrictions, in and to all of the membership interests in the respective SPE.