Rights of an Assignee. If an assignee of a membership Interest is not admitted as a substitute member because of the failure to satisfy the requirements of 15C hereof, such assignee shall nevertheless be entitled to receive such distributions from the Company as the assigning Member would have been entitled to receive under the terms of this Operating Agreement with respect to such membership Interest had the assigning Member retained such membership Interest.
Rights of an Assignee. (a) Unless and until an Assignee becomes a Substituted Member of the Company as provided in this Agreement, the Assignee shall be entitled only to (i) allocation of income, gain, loss, deduction, credit, or similar items, and to receive distributions to which the assignor is entitled to the extent these items were assigned, and (ii) reasonable information or account of transactions of the Company and to make reasonable inspection of the books and records of the Company. The Membership Interest of the Assignee shall not be considered in the voting requirements of the Company, and the Assignee shall have no right to participate in the operations or management of the Company.
Rights of an Assignee. If an Assignee is not admitted as a Member because of the failure to satisfy the requirements of Section 11.5, such Assignee shall nevertheless be entitled to receive such distributions from the Company as the transferring Member would have been entitled to receive under this Agreement had the transferring Member retained such Units. Assignees shall have no other rights of the Members, including voting rights and access to Company records and information. Members have legal and economic rights, while Assignees only have the right to receive economic benefits.
Rights of an Assignee. If an Assignee is not admitted as a Member because of the failure to satisfy the requirements of Section 11.5, such Assignee shall nevertheless be entitled to receive such distributions from the Company as the transferring Member would have been entitled to receive under this Agreement had the transferring Member retained such Units. Each distribution will be paid by the Company to the Person who the Company’s records show to be the Member or Assignee associated with each particular Unit as of the date a distribution is declared. Distributions will not be divided between the transferring Member and the receiving Member or Assignee, regardless of when said transfer takes place relative to the distribution. Assignees shall have no other rights of the Members, including voting rights (if applicable) and access to Company records and information. Members have legal and economic rights, while Assignees only have the right to receive economic benefits.
Rights of an Assignee. If an assignee of a Membership Interest is not admitted as a Member because of the failure to satisfy the requirements of Section 8.01 or 8.02 hereof, such assignee shall nevertheless be entitled to receive such distributions from the Company as the assigning Member would have been entitled to receive under Section 6.07 of this Operating Agreement with respect to such Membership Interest had the assigning Member retained such Membership Interest.
Rights of an Assignee. If an assignee of Membership Interest is not admitted as a Member because of the failure to satisfy the requirements of Section 9.05 hereof, such assignee shall nevertheless be entitled to receive such distributions from the Company as the assigning Member would have been entitled to receive under Sections 7.08 and 10.04(c) of this Operating 27732/1/9029861 vl Received by NSD/FARA Registration Unit 09/30/2019 9:12:00 PM Received by NSD/FARA Registration Unit 09/30/2019 9:12:00 PM Agreement with respect to such Membership Interest had the assigning Member retained such Membership Interest.
Rights of an Assignee. A Transfer from a Member to another Person shall become effective on the date all conditions set forth in this Article are completed in full. Until the effective date an Assignee is admitted as a Substitute Member, the DAO and the Members may treat the assignor of the transferred Membership Interest as the absolute owner of the transferred Membership Interest.
Rights of an Assignee. An assignee has no right to vote, receive information concerning the business and affairs of the Company and is entitled only to receive Distributions and allocations attributable to the Interest held by the assignee as determined by the Manager and in accordance with this Agreement.
Rights of an Assignee. If an assignee of any Units is not admitted as a Member by the prior consent of the Manager and Members owning a majority of the Units owned by all Members, then such assignee shall not be treated as a Member for any purpose of this Agreement; if such assignee for any reason is determined in any legal proceeding to be an assignee of any Units notwithstanding the foregoing provisions of this Agreement, such assignee shall be entitled to receive such distributions from the Company as the assigning Member would have been entitled to receive under Sections 4.1 and 8.2 of this Agreement with respect to such Units had the assigning Member retained such Units but shall have no other rights or interest of any kind with respect to the underlying Units or the Company, including voting rights.
Rights of an Assignee. Unless and until admitted as a Member as provided in Section 5.3, an Assignee will have no Approval Rights. An Assignee that has not become a Member will receive, to the extent Transferred, the share of allocations and distributions (including the allocations and distributions as provided in Article 10 and any distributions representing the return of contributions) to which the assignor would otherwise be entitled or for which the Assignee would otherwise be responsible for with respect to the Transferred Unit. The Company will treat an Assignee as a Member for the terms of Article 9 concerning record keeping and tax reporting.
