Transferees by Operation of Law. If, notwithstanding the provisions of this Agreement, any Person acquires all or any part of the LLC Interest of a Member in violation of this Agreement by operation of law or judicial proceeding, the holder(s) of said LLC Interest shall be entitled to receive only the share of income, gain, deductions, credits, and losses and the return of contributions to which said Member would otherwise be entitled, and said Person shall have no right to participate in the management of the LLC and vote on matters coming before the LLC.
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Samples: Operating Agreement (Manning & Napier, Inc.), Operating Agreement (Manning & Napier, Inc.)
Transferees by Operation of Law. If, notwithstanding the provisions of this AgreementArticle VII, any Person acquires all or any part of the LLC Interest of a Member in violation of this Agreement Article VII by operation of law or judicial proceeding, the holder(s) of said LLC Interest shall be entitled to receive only the share of income, gain, deductions, credits, and losses and the return of contributions to which said Member would otherwise be entitled, and said Person shall have no right to participate in the management of the LLC and vote on matters coming before the LLC.
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Transferees by Operation of Law. If, notwithstanding the provisions of this AgreementArticle 8, any Person acquires all or any part of the LLC Interest of a Member in violation of this Agreement Article 8 by operation of law or judicial proceeding, the holder(s) of said LLC Interest shall be entitled to receive only the share of income, gain, deductions, credits, and losses and the return of contributions to which said Member would otherwise be entitled, and said Person shall have no right to participate in the management of the LLC and vote on matters coming before the LLC.
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