Sale or Encumbrance Prohibited Sample Clauses

Sale or Encumbrance Prohibited. Except as otherwise permitted in this Agreement, no Member may voluntarily or involuntarily transfer, sell, convey, encumber, pledge, assign, or otherwise dispose of (collectively, "Transfer") an interest in the Company without the prior written consent of a majority of the other non-transferring Members determined on a per capita basis.
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Sale or Encumbrance Prohibited. Grantor shall not sell the Collateral nor shall Grantor grant or allow any security interest, lien, attachment or other encumbrance to attach to the Collateral, except in favor of Lender, without the prior written consent of Lender.

Related to Sale or Encumbrance Prohibited

  • Penalty Interest (1) If the loan is overdue or not used for the purpose specified in the contract, from the date of overdue or misappropriation, the penalty interest shall be calculated and collected according to the penalty interest rate specified in this paragraph for the overdue or misappropriated part until the principal and interest are paid off. For overdue and misappropriated loans, the penalty interest shall be calculated and charged at higher penalty interest rate.

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