Substitute Member. 7.3.1 No Transferee of a Member’s Interest will be admitted to the Company with respect to any Series as a substitute Member without the consent of the Manager. Furthermore, Mammoth Private Capital, LLC no Transferee, including those transfers permissible under Section 7.1, will be considered admitted as a substitute Member unless and until such assignee executes and delivers to the Manager such number of counterpart signature pages to this Agreement as the Manager may require, which the Manager will also execute. A Transferee inures to the Capital Account and allocations of capital of the Transferor, and the Transferee will succeed to such Capital Account of the Transferor, and the balance thereof maintained as to the Transferor shall become the balance in the maintained as to the Transferee.
Appears in 5 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
Substitute Member. 7.3.1 No Transferee of a Member’s Interest will be admitted to the Company with respect to any Series as a substitute Member without the consent of the Manager. Furthermore, Mammoth Private Capital, LLC no Transferee, including those transfers permissible under Section 7.1, will be considered admitted as a substitute Member unless and until such assignee executes and delivers to the Manager such number of counterpart signature pages to this Agreement as the Manager may require, which the Manager will also execute. A Transferee inures to the Capital Account and allocations of capital of the Transferor, and the Transferee will succeed to such Capital Account of the Transferor, and the balance thereof maintained as to the Transferor shall become the balance in the maintained as to the Transferee.
Appears in 1 contract
Samples: Operating Agreement
