An owner involved in an LLC is designated as a member. The member`s interest in the limited liability company is called participation. If a member of the LLC must or wants to acquire property rights, this is done through an assignment of interest. An LLC member interest transfer agreement must be completed properly and fully to protect the interests of members. Clause Page 1 Definitions and Interpretation 1 2 Conditions Previous 4 3 Interest Sale Agreement for Lillie`s Interest 4 4 Considering 5 5 5 Agreement to Transfer Interests from Membership to Hope 5 6 Conclusion 5 7 Guarantees 8 8 Treatment and Voting on Lillie`s Membership Interests and Interests Hope 9 9 Bird Enterprises 10 10 Full Agreement 10 11 Advertisements and Confidentiality 11 12 Omissions and Publications 11 13 Other 12 14 Communications 12 15 Cession 13 16 Applicable and Plenipotentiary Law for The Meaning of Trial 13 17 Jurisdiction 14 This document may be used when a party wishes to transfer ownership of an interest to an LLC or if a party wishes to transfer an interest to an LLC as long as the current owner accepts the interests of the membership. It should be used if both parties understand that Sanzins` membership is fully allocated and want to establish a registration of their agreement, as well as a document that will likely keep the LLC on file. LLC Membership Interest Assignments are short, relatively simple documents that contain all the information necessary to transfer an interest to an LLC. They contain a place for the person transferring the interest (the Assignor) and for the person receiving the interest (the so-called agent) to execute the document. This specific membership interest transfer agreement between EXCO Holding (PA), Inc. (“EXCO”) and BG US Production Company, LLC (BG) of May 9, 2010, as amended by these parties under this June 1, 2010 agreement (as amended, “MITA”). In accordance with Section 12.1 (a) of MITA, BG submitted a notice on June 18, 2010 regarding the extension of the environmental error compliance date (an “extension communication”).
On June 24, 2010, EXCO issued a notice of rejection of the extension notice and proposed that the parties resolve their disputes through certain changes to the MITA. In light of mutual commitments and other good and valuable considerations whose preservation and sufficiency are heres not recognized, BG and EXCO agree to amend the MITA as follows: The majority of the LLC`s statutes distinguish membership rights from members` interests. The key difference is that the member`s transferable interests often include only the right to participate in financial interests and other distributions, as well as a share of profits or losses. You are not allowed to participate in control and management.