Common use of Transfer for Security Clause in Contracts

Transfer for Security. Except (i) as otherwise permitted pursuant to Section 2.1 hereof, or (ii) as permitted by or in compliance with the provisions of the agreements referred to in Section 2.5, no Member may pledge, mortgage or otherwise hypothecate all or any part of its right, title and interest in distributions to be received from the Company.

Transfer for Security. Except (i) as otherwise permitted pursuant to Section 2.1 hereof, or (ii) as permitted by or in compliance with the provisions of the agreements referred to in Section SECTION 2.5, no the Member may not pledge, mortgage or otherwise hypothecate all or any part of its right, title and interest in distributions to be received from the Company.