ARTICLE [X]: TRANSFER OF MEMBERSHIP INTERESTS & BUY-SELL PROVISIONS [X].1 General Restriction
No Member shall sell, assign, pledge, or otherwise transfer all or any part of their Membership Interest, whether voluntarily or by operation of law, except in accordance with the terms of this Article. Any attempted transfer in violation of this Agreement shall be null and void. [X].2 Triggering Events llc operating agreement buy sell provisions
If a member dies, does the company have the cash to buy them out? (This is why Buy-Sell Life Insurance is standard). ARTICLE [X]: TRANSFER OF MEMBERSHIP INTERESTS & BUY-SELL
If neither the Company nor the Members exercise this right within [30] days, the Member may sell to the third party at the specified price. [X].4 Mandatory Buyout (Death or Disability) (This is why Buy-Sell Life Insurance is standard)
The "Buy-Sell" provisions of this Agreement shall be triggered by any of the following events (each a "Triggering Event"): of a Member.
The balance paid in equal quarterly installments over [3–5] years.