Disposing Member definition

Disposing Member is defined in Section 4.1.

Disposing Member has the meaning given such term in Section 4.02.

Disposing Member means any Member that proposes to consummate a Disposition, including any proposed Disposition subject to Section 7.01(c), of all or any portion of its Membership Interest (whether or not the proposed Disposition is to another Member).

Examples of Disposing Member in a sentence

• The Disposing Member and its Assignee shall pay, or reimburse the Company for, all reasonable costs and expenses incurred by the Company in connection with the Disposition and admission of the Assignee as a Member.

• No Disposition of Membership Interests shall effect a release of the Disposing Member from any liabilities to the Company or the other Members arising from events occurring prior to the Disposition, except as otherwise may be provided in any instrument or agreement pursuant to which a Disposition of Membership Interests is effected.

• Notwithstanding anything to the contrary herein, it shall be a condition precedent to all Dispositions and solicitations of Dispositions (through Auction or otherwise) that the Disposing Member and, in the case of Dispositions, its Assignee shall be in compliance will all applicable Laws.

• No Disposition of a Membership Interest shall effect a release of the Disposing Member from any liabilities to the Company or the other Members arising from events occurring prior to the Disposition.

• An Assignee has the right to be admitted to the Company as a Member, with the Membership Interest (and attendant Sharing Ratio) so transferred to such Assignee, only if (i) the Disposing Member making the Disposition has granted the Assignee the Disposing Member=s entire Membership Interest; and (ii) such Disposition is effected in strict compliance with this Section 3.03.

More Definitions of Disposing Member

Disposing Member has the meaning set forth in Section 3.03(b)(ii)(A).

Disposing Member has the meaning set forth in Section 10.8(d)(ii) hereof.

Disposing Member is defined in Section 4.1. “Dissolution Event” is defined in Section 12.1(a).

Disposing Member has the meaning set forth in Section 5.6.

Disposing Member is defined in Section 11.8(b).

Disposing Member has granted the Assignee either (i) all, but not less than all, of such Disposing Member’s Membership Interests or (ii) the express right to be so admitted and (b) such Disposition is effected in strict compliance with this Article IV.

Disposing Member shall have the meaning provided in Section 9.5(b).