Consequences of Cessation of Membership. In the event a Person ceases to be a Member as provided in Section 7.1 above, the Person (or the Person’s successor in interest) shall continue to be liable for all obligations of the former Member to the Company and, with respect to any Units owned by such Person, shall be an assignee with only the rights and subject to the restrictions, conditions and limitations described above.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Beyond Commerce, Inc.), Limited Liability Company Agreement (Yangtze River Development LTD), Limited Liability Company Agreement
Consequences of Cessation of Membership. In the event a Person ceases to be a Member as provided in Section 7.1 above, the Person (or the Person’s successor in interest) shall continue to be liable for all obligations of the former Member to the Company LLC and, with respect to any Units Interest owned by such Person, shall be an assignee with only the rights and subject to the restrictions, conditions and limitations described above.
Appears in 3 contracts
Samples: Operating Agreement, Operating Agreement (Where Food Comes From, Inc.), Operating Agreement (Where Food Comes From, Inc.)
Consequences of Cessation of Membership. In the event a Person ceases to be a Member as provided in Section 7.1 above, the Person (or the Person’s successor in interest) shall continue to be liable for all obligations of the former Member to the Company and, with respect to any Units owned by Execution Copy such Person, shall be an assignee with only the rights and subject to the restrictions, conditions and limitations described above.
Appears in 2 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Gigamon LLC)
Consequences of Cessation of Membership. In the event a Person ceases to be a Member as provided in Section 7.1 above, the Person (or the Person’s successor in interest) shall continue to be liable for all obligations of the former Member to the Company LLC and, with respect to any Units Interest owned by such Person, shall be an assignee with only the rights and subject to the restrictions, conditions and limitations described above.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Level Brands, Inc.), Limited Liability Company Agreement (EcoReady Corp)
Consequences of Cessation of Membership. In the event a Person ceases to be a Member as provided in Section 7.1 8.1 above, the Person (or the Person’s successor in interest) shall continue to be liable for all obligations of the former Member to the Company and, with respect to any Units owned by such Person, shall be an assignee with only the rights and subject to the restrictions, conditions and limitations described above.
Appears in 1 contract
Samples: Limited Liability Company Agreement (CERES Coin LLC)
Consequences of Cessation of Membership. In the event a Person ceases to be a Member as provided in Section 7.1 above8.1, the Person (or the Person’s successor in interest) shall continue to be liable for all obligations of the former Member to the Company LLC and, with respect to any Units Interest owned by such Person, shall be an assignee with only the rights and subject to the restrictions, conditions and limitations described aboveherein.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Sinclair Broadcast Group Inc)
Consequences of Cessation of Membership. In the event a Person ceases to be a Member as provided in Section 7.1 above6.1, the Person (or the Person’s successor in interest) shall continue to be liable for all obligations of the former Member to the Company and, with respect to any Units Interest owned by such Person, shall be an assignee with only the rights and subject to the restrictions, conditions and limitations described aboveherein.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Knight-Swift Transportation Holdings Inc.)
Consequences of Cessation of Membership. In the event a Person ceases to be a Member as provided in Section 7.1 8.1 above, the Person (or the Person’s successor in interest) shall continue to be liable for all obligations of such Person as of the former Member date such Person ceased to the Company and, with respect to any Units owned by such Person, shall be an assignee with only the rights and subject to the restrictions, conditions and limitations described abovea Member.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Axiall Corp/De/)
Consequences of Cessation of Membership. In the event a Person ceases to be a Member as provided in Section 7.1 8.1 above, the Person (or the Person’s 's successor in interest) shall continue to be liable for all obligations of the former Member to the Company LLC, including any obligation to make Capital Contributions, and, with respect to any Units Interest owned by such Person, shall be an assignee with only the rights and subject to the restrictions, conditions and limitations described in Section 7.3 above.
Appears in 1 contract
Samples: Supply Agreement (Aldila Inc)
Consequences of Cessation of Membership. In the event a Person ceases to be a Member as provided in Section 7.1 above, the Person (or the Person’s successor in interest) shall continue to be liable for all obligations of the former Member to the Company Fund and, with respect to any Units owned by such Person, shall be an assignee with only the rights and subject to the restrictions, conditions and limitations described above.
Appears in 1 contract
