Common use of Termination of Members’ Interest Clause in Contracts

Termination of Members’ Interest. The Members will cease to be a member of the Company upon the Members’ death, incompetency, or bankruptcy, or upon assignment of the Member's entire membership interest. Unless there are one or more other members of the Company, the person who is the holder of the Member's interest immediately after the Member ceases to be a member will become a member. If there are one or more other members of the Company at the time the Member ceases to be a member, the person who is the holder of the Member's interest immediately after the Member ceases to be a member will become a member only with the consent of the other member or members.

Termination of Members’ Interest. The Members Member will cease to be a member of the Company upon the Members’ Member's death, incompetency, or bankruptcy, or upon assignment of the Member's entire membership interest. Unless there are one or more other members of the Company, the person who is the holder of the Member's interest immediately after the Member ceases to be a member will become a member. If there are one or more other members of the Company at the time the Member ceases to be a member, the person who is the holder of the Member's interest immediately after the Member ceases to be a member will become a member only with the consent of the other member or members.

Termination of Members’ Interest. The Members Member will cease to be a member of the Company upon the Members’ Member’s death, incompetency, or bankruptcy, or upon assignment of the Member's ’s entire membership interest. Unless there are one or more other members of the Company, the person who is the holder of the Member's ’s interest immediately after the Member ceases to be a member will become a member. If there are one or more other members of the Company at the time the Member ceases to be a member, the person who is the holder of the Member's ’s interest immediately after the Member ceases to be a member will become a member only with the consent of the other member or members.

Termination of Members’ Interest. The Members A Member will cease to be a member of the Company upon the Members’ Member's death, incompetency, or bankruptcy, bankruptcy if a natural person; dissolution or bankruptcy if an entity; or upon assignment or transfer of the any Member's entire membership interest. Unless there are one or more other members of the Company, the person who is the holder of the Member's limited liability company interest immediately after the Member ceases to be a member will become a membermember concurrently to ensure continuity of the Company. If there are one or more other members of the Company at the time the Member ceases to be a member, the person individual or entity who is the holder of the Member's limited liability company interest immediately after the Member ceases to be a member will become a member only with the consent of the other member or members.