Common use of Effect of Exercise of Redemption Right Clause in Contracts

Effect of Exercise of Redemption Right. This Agreement shall continue notwithstanding the exercise of a Redeeming Member's Redemption Right and all governance or other rights set forth herein in accordance with their terms and subject to their conditions (including as referenced in Section 4.3(a) and (b)) shall be exercised by the remaining Members and the Redeeming Member (to the extent of such Redeeming Member's remaining Interest in the Company). No exercise of a Redeeming Member's Redemption Right shall relieve such Redeeming Member of any prior breach of this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Cloud Peak Energy Inc.), Limited Liability Company Agreement (Cloud Peak Energy Inc.)

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Effect of Exercise of Redemption Right. This Agreement shall continue notwithstanding the exercise of a Redeeming Member's ’s Redemption Right and all governance or other rights set forth herein in accordance with their terms and subject to their conditions (including as referenced in Section 4.3(a) and (b)) shall be exercised by the remaining Members and the Redeeming Member (to the extent of such Redeeming Member's ’s remaining Interest in the Company). No exercise of a Redeeming Member's ’s Redemption Right shall relieve such Redeeming Member of any prior breach of this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Cloud Peak Energy Inc.)

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Effect of Exercise of Redemption Right. This Agreement shall continue notwithstanding the exercise consummation of a Redeeming Member's Redemption Right and all governance or other rights set forth herein in accordance with their terms and subject to their conditions (including as referenced in Section 4.3(a) and (b)) shall be exercised by the remaining Members and the Redeeming Redeemed Member (to the extent of such Redeeming Redeemed Member's ’s remaining Interest in the CompanyCompany Interest). No exercise of a Redeeming Member's Redemption Right shall relieve such Redeeming Redeemed Member of any prior breach of this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Liberty Tax, Inc.)

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