Common use of No Resignation Clause in Contracts

No Resignation. Except as set forth in Section 7.4, a Member may not take any action to resign, withdraw or retire as a Member voluntarily, and a Member may not be removed involuntarily, prior to the dissolution and winding up of the Company, other than as a result of a permitted Transfer of all of such Member’s Units in accordance with Article 7 and each of the Transferees of such Units (if the Transferee is not the Company or already a Member) being admitted as a substituted Member pursuant to Section 3.4 below (a “Substituted Member”). A Member will cease to be a Member only in the manner described in Section 3.4 and Article 8.

Appears in 3 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (CAESARS ENTERTAINMENT Corp), Limited Liability Company Agreement (Caesars Acquisition Co)

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No Resignation. Except as set forth in Section 7.4, a A Member may not take any action to resign, withdraw or retire Resign as a Member voluntarily, and a Member may not be removed involuntarily, prior to the dissolution and winding up of the Company, other than as a result of a permitted Transfer Disposition of all of such Member’s Units in accordance with Article 7 and each of the Transferees transferees of such Units (if the Transferee is not the Company or already a Member) being admitted as a substituted Member pursuant to Section 3.4 below (a “Substituted Member”). A Member will cease to be a Member only in the manner described in Section 3.4 and Article 8.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Ashford Inc.), Limited Liability Company Agreement (Ecosphere Technologies Inc), Limited Liability Company Agreement (Ecosphere Technologies Inc)

No Resignation. Except as set forth in Section 7.4, a A Member may not take any action to resign, withdraw or retire Resign as a Member voluntarily, and a Member may not be removed involuntarily, prior to the dissolution and winding up of the Company, other than as a result of a permitted Transfer Disposition of all of such Member’s Units in accordance with Article 7 and each of the Transferees transferees of such Units (if the Transferee is not the Company or already a Member) being admitted as a substituted Substituted Member pursuant to Section 3.4 below (a “Substituted Member”)in accordance therewith. A Member will cease to be a Member only in the manner described in Section 3.4 3.5 and Article 812.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Laredo Petroleum - Dallas, Inc.), Limited Liability Company Agreement (Laredo Petroleum, Inc.)

No Resignation. Except as set forth in Section 7.4Sections 3.6 and 3.7, a Member may not take any action to resign, withdraw or retire as a Member voluntarily, and a Member may not be removed involuntarily, prior to the dissolution and winding up of the Company, other than as a result of a permitted Transfer of all of such Member’s Units in accordance with Article 7 VII and each of the Transferees of such Units (if the Transferee is not the Company or already a Member) being admitted as a substituted Member pursuant to Section 3.4 below (a “Substituted Member”). A Member will cease to be a Member only in the manner described in Section 3.4 and Article 8XII.

Appears in 1 contract

Samples: Limited Liability Company Agreement

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No Resignation. Except as set forth in Section 7.4, a A Member may not take any action to resign, withdraw or retire Resign as a Member voluntarily, and a Member may not be removed involuntarily, prior to the dissolution and winding up of the Company, other than as a result of a permitted Transfer Disposition of all of such Member’s Units in accordance with Article 7 and each of the Transferees transferees of such Units (if the Transferee is not the Company or already a Member) being admitted as a substituted Member pursuant to Section 3.4 below (a “Substituted Member”). A Member will cease to be a Member only in the manner described in Section 3.4 3.8 and Article 812.

Appears in 1 contract

Samples: Limited Liability Company Agreement (RoyaltyTraders LLC)

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