Common use of Resignation of the Member Clause in Contracts

Resignation of the Member. Except as otherwise required or not prohibited by the Loan Documents, for so long as any indebtedness remains outstanding under the Loan or the Lender has any obligation to extend credit under the Loan Documents, unless the Lender expressly consents thereto in writing, the Member shall not withdraw as a member of the LLC, and if the Member is permitted to resign pursuant to this Section 4.7, an additional member of the LLC shall be admitted to the LLC, as permitted under the Loan Documents, upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement; which instrument may be a counterpart signature page to this Agreement. 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.

Resignation of the Member. Except as otherwise required or not prohibited by the Loan Documents, for so long as any indebtedness remains outstanding under the Loan or the Lender has any obligation to extend credit under the Loan Documents, unless the Lender expressly consents thereto in writing, the Member shall not withdraw as a member of the LLC, and if the Member is permitted to resign pursuant to this Section 4.7, an additional member of the LLC shall be admitted to the LLC, as permitted under the Loan Documents, upon its Quill Equity LLC Amended and Restated Limited Liability Company Agreement execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement; which instrument may be a counterpart signature page to this Agreement. 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.

Resignation of the Member. Except as otherwise required or not prohibited by any of the Loan Documents, for so long as any indebtedness remains outstanding under the Loan or the Lender has any obligation to extend credit under the Loan DocumentsLoan, unless the Lender expressly consents thereto in writing, the Member shall not withdraw resign as a member of the LLCCompany, and if the Member is permitted to resign pursuant to this Section 4.711.2, an additional member of the LLC Company shall be admitted to the LLCCompany, as permitted under the Loan Documents, upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement; which instrument may be a counterpart signature page to this Agreement. Such admission shall be deemed effective immediately prior to the such resignation and, immediately following such admission, the resigning Member shall cease to be a member of the LLCCompany.

Resignation of the Member. Except as otherwise required or not prohibited by any of the Loan Documents, for so long as any indebtedness remains outstanding under any of the Loan or the Lender has any obligation to extend credit under the Loan DocumentsLoans, unless the Lender Lenders expressly consents consent thereto in writing, the Member shall not withdraw as a member of the LLC, and if the Member is permitted to resign pursuant to this Section 4.7, an additional member of the LLC shall be admitted to the LLC, as permitted under the Loan Documents, upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement; which instrument may be a counterpart signature page to this Agreement. 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.

Resignation of the Member. Except as otherwise required or not prohibited by any of the Loan Documents, for so long as any indebtedness remains outstanding under the Loan or the Lender has any obligation to extend credit under the Loan DocumentsLoan, unless the Lender expressly consents thereto in writing, the Member shall not withdraw as a member of the LLC, and if the Member is permitted to resign pursuant to this Section 4.7, an additional member of the LLC shall be admitted to the LLC, as permitted under the Loan Documents, upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement; which instrument may be a counterpart signature page to this Agreement. 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.

Resignation of the Member. Except as otherwise required or not prohibited by any of the Loan Documents, for so long as any indebtedness remains outstanding under the Loan or the Lender has any obligation to extend credit under the Loan DocumentsLoan, unless the Lender Lenders expressly consents consent thereto in writing, the Member shall not withdraw resign as a member of the LLC, and if the Member is permitted to resign pursuant to this Section 4.7, an additional member of the LLC shall be admitted to the LLC, as permitted under the Loan Documents, upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement; which instrument may be a counterpart signature page to this Agreement. 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.