Common use of Sale or Encumbrance Prohibited Clause in Contracts

Sale or Encumbrance Prohibited. Except as otherwise permitted in this Agreement, no Member may voluntarily or involuntarily transfer, sell, convey, encumber, pledge, assign, or otherwise dispose of (collectively, "Transfer") an interest in the Company without the prior written consent of a majority of the other non-transferring Members determined on a per capita basis.

Appears in 250 contracts

Samples: Multi Member Operating Agreement, Multi Member Operating Agreement, Multi Member Operating Agreement

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Sale or Encumbrance Prohibited. Except as otherwise permitted in this Agreement, no Member may voluntarily or involuntarily transfer, sell, convey, encumber, pledge, assign, or otherwise dispose of (collectively, "Transfer") an interest in the Company without the prior written consent of a majority of the other non-transferring Members determined on a per capita basis.

Appears in 51 contracts

Samples: Multi Member Operating Agreement, Arkansas Operating Agreement, Tennessee Operating Agreement

Sale or Encumbrance Prohibited. Except as otherwise permitted in this Agreement, no Member may voluntarily or involuntarily transfer, sell, convey, encumber, pledge, assign, or otherwise dispose of (collectively, "Transfer") an interest in the Company without the prior written consent of a majority of the other non-transferring nontransferring Members determined on a per capita basis.

Appears in 9 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

Sale or Encumbrance Prohibited. Except as otherwise permitted in this Agreement, no Member may voluntarily or involuntarily transfer, sell, convey, encumber, pledge, assign, or otherwise dispose of (collectively, "collectively referred to as the “Transfer") an interest in the Company without the prior written consent of a majority of the other non-transferring Members determined on a per capita basis.

Appears in 1 contract

Samples: Operating Agreement

Sale or Encumbrance Prohibited. Except as otherwise permitted in this Agreement, no Member may voluntarily or involuntarily transfer, sell, convey, encumber, pledge, assign, or otherwise dispose of (collectively, "Transfer") an interest in the Company without the prior written consent of a majority of the other non-transferring Members determined on a per capita basisManager.

Appears in 1 contract

Samples: Operating Agreement (Tulsa Real Estate Fund, LLC)

Sale or Encumbrance Prohibited. Except as otherwise permitted in this Agreement, no Member may voluntarily or involuntarily transfer, sell, convey, encumber, pledge, assign, assign or otherwise dispose of (collectively, "Transfer") an interest in the Company without the prior written consent of a majority of the other non-transferring Members determined on a per capita basis.

Appears in 1 contract

Samples: Operating Agreement

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Sale or Encumbrance Prohibited. Except as otherwise permitted in this Agreement, no Member may voluntarily or involuntarily transfer, sell, convey, encumber, pledge, assign, or otherwise dispose of (collectively, "Transfer") an interest in the Company without the prior unanimous written consent of a majority of the other non-transferring Members determined on a per capita basisnontransferring Member(s).

Appears in 1 contract

Samples: Operating Agreement

Sale or Encumbrance Prohibited. Except as otherwise permitted in this Agreement, no Member may voluntarily or involuntarily transfer, sell, convey, encumber, pledge, assign, or otherwise dispose of (collectively, "Transfer") an interest in the Company without the prior written consent of a majority of the other non-transferring Members Member(s) determined on a per capita basis.

Appears in 1 contract

Samples: Operating Agreement

Sale or Encumbrance Prohibited. Except as otherwise permitted in this Agreement, no Member may voluntarily or involuntarily transfer, sell, convey, encumber, pledge, assign, or otherwise dispose of (collectively, "Transfer") an interest in the Company without the prior written consent of a Seventy Five percent (75%) majority of the other non-transferring Members determined on a per capita basisUnit Votes for Units held by Members.

Appears in 1 contract

Samples: Holdings, LLC Operating Agreement

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