Membership Interests definition
Examples of Membership Interests in a sentence
Upon such conversion of this Note, the Holder hereby agrees to execute and deliver to the Company all transaction documents related to the Offering, including a subscription agreement, series agreement and other ancillary agreements and having the same terms and conditions as those agreements entered into by the other purchasers of the Membership Interests.
The Member may, with prior written notice to the LLC and in compliance with applicable laws, sell assign or convey its Membership Interests at any time without the consent of the Managers.
If the Member transfers all of its Membership Interests pursuant to this Section 7.01(a), the transferee shall be admitted to the LLC as a member of the LLC upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement, which instrument may be a counterpart signature page to this Agreement.
No Disposition of Membership Interests shall effect a release of the Disposing Member from any liabilities to the Company or the other Members arising from events occurring prior to the Disposition, except as otherwise may be provided in any instrument or agreement pursuant to which a Disposition of Membership Interests is effected.
The Membership Interests have been duly authorized and are validly issued, fully-paid and non-assessable.