Examples of Member Interest in a sentence
If a Member Interest is transferred as permitted by this Agreement and effected by the Managers, the transferee shall succeed to the Capital Account of the transferor to the extent the Capital Account relates to the transferred Member Interest in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(l).
All assets and any other tangible and intangible property, owned by the Company shall be owned by the Company as an entity and no Member shall have any ownership interest in such assets or other property in the Member’s individual name or right, and each Member Interest shall be personal property for all purposes.
The legal representative of any such Member shall succeed as assignee to such Member’s Member Interest in the Company but shall not be admitted as a Member unless the requirements of Section 9.1, as applicable, are met.
Complete a brief New Member Interest Form to find out more: www.surveymonkey.com/r/DRJP5N5 or scan the QR code.
The obligations of each Member or former Member under this Article 8 shall survive the transfer or redemption by such Member of its Member Interest, the termination of this Agreement, or the dissolution of the Company.