Rights of Unadmitted Assignees. A Person who acquires one or more Units but who is not admitted as a substituted Member pursuant to Section 5.1.5 is entitled to become only an Economic Interest Owner, with a right to allocations and distributions with respect to such interests in accordance with this Agreement. Such an Economic Interest Owner has no right to any information or accounting of the affairs of the Company, is not entitled to inspect the books or records of the Company, and does not have any of the voting rights, rights to participate in the management of the Company or other rights of a Member under the Act or this Agreement.
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Samples: Limited Liability Company Agreement (Renal Care Group Inc), Limited Liability Company Agreement (Renal Care Group Inc)
Rights of Unadmitted Assignees. A Person who acquires one or more Units Membership Interests but who is not admitted as a substituted Member pursuant to Section 5.1.5 is entitled only to become only an Economic Interest Owner, with a right to allocations and distributions with respect to such interests in accordance with this Agreement. Such an Economic Interest Owner , but has no right to any information or accounting of the affairs of the Company, is not entitled to inspect the books or records of the Company, and does not have any of the voting rights, rights to participate in the management of the Company or other rights of a Member under the Act or this Agreement.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement (Moody National REIT I, Inc.), Limited Liability Company Operating Agreement (Moody National REIT I, Inc.)
Rights of Unadmitted Assignees. A Person who acquires one or more Units Membership Interests but who is not admitted as a substituted Member pursuant to Section 5.1.5 is entitled only to become only an Economic Interest Owner, with a right to allocations and distributions with respect to such interests in accordance with this Agreement. Such an Economic Interest Owner , but has no right to any information or accounting of the affairs of the Company, is not entitled to inspect the books or records of the Company, and does not have any of the voting rights, rights to participate in the management of the Company or other rights of a Member under the Delaware Act or this Agreement.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Moody National REIT I, Inc.)
Rights of Unadmitted Assignees. A Person who acquires one or more Units Membership Interests but who is not admitted as a substituted Member pursuant to Section 5.1.5 is entitled only to become only an Economic Interest Owner, with a right to allocations and distributions with respect to such interests in accordance with this Agreement. Such an Economic Interest Owner , but has no right to any information or accounting of the affairs of the Company, is not entitled to inspect the books or records of the Company, and does not have any of the voting rights, rights to participate in the management of the Company or other rights of a Member under the Act or this Agreement.Company,-17-WEST\25 03 76645.2 378976-000001
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