Partial Transfer. If a Member transfers only a portion of its Membership Interest, the transferee shall be admitted to the Company as an additional Member upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement.
Appears in 11 contracts
Sources: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement
Partial Transfer. If a Member transfers only a portion of its Membership Interestmembership interest, the transferee shall be admitted to the Company as an additional Member upon its execution of an instrument signifying its agreement Agreement to be bound by the terms and conditions of this Agreement.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Live Oak Financial LLC), Limited Liability Company Agreement (Live Oak Financial LLC)
Partial Transfer. If a Member transfers only a portion of its Membership Interestmembership interest, the transferee shall be admitted to the Company as an additional Member upon its execution of an instrument signifying its agreement Agreement to be bound by the terms and conditions of this Agreement.. If partial transfer is offered the existing members have first right of refusal on 1% of company at same price proportionally being offered to new member
Appears in 1 contract
Sources: Limited Liability Company Agreement