Resignation of the Member. The Member may resign from the LLC. If the Member resigns from the LLC pursuant to this Section, an additional member shall be admitted to the LLC, upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement and the written consent of the Managing Member. Such admission shall be deemed effective immediately prior to the resignation, and, immediately following such admission, the resigning Member shall cease to be a member of the LLC.
Appears in 10 contracts
Samples: Limited Liability Company Agreement (Tarantula Ventures LLC), Limited Liability Company Agreement (Tarantula Ventures LLC), Limited Liability Company Agreement (Tarantula Ventures LLC)
