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Heller and in this video were going to talk about what you will see sometimes or often in operating agreements for multi-family deals and that is an exception for affiliate transfer what does that mean an exception for affiliate transfer first please dont forget to like And subscribe for more content just like this video okay well very good you might have some legal clause in an operating agreement and itll it may read something approximately like this a typical right to indemnification agreement right might read like this exception for affiliate transfer anything to the contrary contained herein notwithstanding the transfer of any or all of the membership interest to an affiliate of the member which affiliate status the managers May determine in their reasonable discretion shall be exempt from the provisions of this section in such case the transferee or other recipient shall receive and hold the membership interest so transferred subject to the provisions of this agreement and the
