Unauthorized Transfer. (a) Any purported Transfer of Units not expressly permitted by this Article VII shall be null and void and of no effect whatsoever; provided, however, that, if (i) a court of competent jurisdiction issues a final judgment requiring the Company to recognize such Transfer or (ii) the Company in its sole discretion elects to recognize such Transfer, the transferee shall have only the rights of a Member, as set forth in Section 7.3 above.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (RiverBanc Multifamily Investors, Inc.), Limited Liability Company Agreement (RiverBanc Multifamily Investors, Inc.), Contribution Agreement (RiverBanc Multifamily Investors, Inc.)
Unauthorized Transfer. (a) Any purported Transfer transfer of Units not expressly permitted by this Article VII shall ARTICLE VIII will be null and void and of no effect whatsoever; provided, however, that, if (i) if a court of competent jurisdiction issues a final judgment requiring the Company to recognize such Transfer transfer, or (ii) if the Company in its sole discretion elects to recognize such Transfertransfer, the transferee shall will have only the rights of a MemberNon-Member Transferee, as set forth in Section 7.3 aboveSECTION 8.2.
Appears in 1 contract
