Transfer of Membership Interest. The Members may assign, transfer and otherwise convey (collectively, “convey”) all or part of the Member’s membership interest in the Company only by (a) executing a written instrument of assignment, duly describing the membership interest in the Company being conveyed to the transferee and the rights and obligations that the transferee shall have in respect of such interest (including whether the transferee is to be admitted as a member of the Company), and (b) complying with the provisions of Section 5.3. Any attempted or purported conveyance of all or part of a membership interest in the Company that does not comply with the preceding sentence shall be null and void and not recognized by the Company.
Appears in 3 contracts
Samples: Operating Agreement (Worldwide Auto Parts, Inc.), Operating Agreement (Worldwide Auto Parts, Inc.), Operating Agreement (Worldwide Auto Parts, Inc.)
Transfer of Membership Interest. The Members Member may assign, transfer and otherwise convey (collectively, “"convey”") all or part of the Member’s 's membership interest in the Company only by (a) executing a written instrument of assignment, duly describing the membership interest in the Company being conveyed to the transferee and the rights and obligations that the transferee shall have in respect of such interest (including whether the transferee is to be admitted as a member of the Company), and (b) complying with the provisions of Section 5.34.3. Any attempted or purported conveyance of all or part of a membership interest in the Company that does not comply with the preceding sentence shall be null and void and not recognized by the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Valor Telecommunications Southwest LLC), Limited Liability Company Agreement (Valor Telecommunications Southwest LLC)
Transfer of Membership Interest. The Members Member may assign, transfer and otherwise convey (collectively, “convey”) all or part of the Member’s membership interest in the Company only by (a) executing a written instrument of assignment, duly describing the membership interest in the Company being conveyed to the transferee and the rights and obligations that the transferee shall have in with respect of to such interest (including whether the transferee is to be admitted as a member of the Company), and (b) complying with the provisions of Section 5.39.3. Any attempted or purported conveyance of all or part of a membership interest in the Company that does not comply with the preceding sentence shall be null and void and not recognized by the Company.
Appears in 2 contracts
Samples: Operating Agreement (LGI Leasing, LLC), Operating Agreement (LGI Leasing, LLC)
Transfer of Membership Interest. The Members Member may assign, transfer and otherwise convey (collectively, “convey”) all or part of the Member’s membership interest in the Company only by (a) executing a written instrument of assignment, duly describing the membership interest in the Company being conveyed to the transferee and the rights and obligations that the transferee shall have in with respect of to such interest (including whether the transferee is to be admitted as a member of the Company), and (b) complying with the provisions of Section 5.310.3. Any attempted or purported conveyance of all or part of a membership interest in the Company that does not comply with the preceding sentence shall be null and void and not recognized by the Company.
Appears in 1 contract
