Common use of Satisfaction and Discharge of a Withdrawn Member’s Interest Clause in Contracts

Satisfaction and Discharge of a Withdrawn Member’s Interest. (a) As used in this Agreement, (i) the term “Withdrawn Member” shall mean a Member whose interest in the Company has been terminated for any reason, including the occurrence of an event specified in Section 6.2, and shall include, unless the context requires otherwise, the estate or legal representatives of any such Member, (ii) the term “Withdrawal Date” shall mean the date of the Withdrawal from the Company of a Withdrawn Member and (iii) the term “Settlement Date” shall mean the date as of which a Withdrawn Member’s Interest is settled as determined under paragraph (b) below. Notwithstanding the foregoing, any Regular Member who Withdraws from the Company, and all or any portion of whose Interest is retained as a Special Member, shall be considered a Withdrawn Member for all purposes hereof.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Blackstone Group L.P.), Limited Liability Company Agreement (Blackstone Group L.P.), Limited Liability Company Agreement (Blackstone Group L.P.)

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