Common use of Restrictions on Transfers Clause in Contracts

Restrictions on Transfers. Except as otherwise provided in this Agreement, no Member shall sell, assign, pledge, encumber or otherwise transfer its interest or any portion thereof or interest therein, or withdraw from the Company. Any such transfer or attempt to withdraw other than as permitted under this Agreement shall be void ab initio. Upon such transfer by a Member of all of its interest in a manner permitted or required pursuant to the provisions of this Agreement, (i) such Member shall be deemed to have withdrawn as a Member and shall have no further rights as a Member hereunder, and (ii) Schedule A shall be amended to appropriately reflect the changes to the membership, Percentage Interests, and Capital Contributions caused by such transfer.