Common use of Term of Members Clause in Contracts

Term of Members. Members will perform their duties until they: (1) resign, (2) withdraw, (3) retire, (4) die, or (5) are expelled under Article 7.2. The rights of deceased or dissociated member will be determined pursuant to Article 8 or as otherwise provided in this Agreement. There will always be at least one member. If a member is the sole member at the time his or her membership ends, that member must elect a successor member or the Company will be dissolved in accordance with Article 10.

Appears in 17 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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