Withdrawal of a Member. For purposes of this Agreement, a “Withdrawn Member” is a member who is bankrupt, has resigned, or has retired (a “Withdrawal Event”). Upon a Withdrawal Event, the Withdrawn Member or any successor in interest to the Withdrawn Member shall become an Assignee of the Withdrawn Member’s Membership Interest in the Company.
Appears in 88 contracts
Samples: Operating Agreement (Century at Murphy Creek, LLC), Operating Agreement (Century at Murphy Creek, LLC), Operating Agreement (Century Communities of Georgia, LLC)
Withdrawal of a Member. For purposes of this Operating Agreement, a “Withdrawn Member” is a member who is bankrupt, has resigned, has dissolved or has retired (a “Withdrawal Event”). Upon a Withdrawal Event, the Withdrawn Member or any successor in interest to the Withdrawn Member shall automatically become an Assignee of the Withdrawn Member’s Membership Interest in the Company.
Appears in 21 contracts
Samples: Operating Agreement (Century Communities of Nevada Realty, LLC), Operating Agreement (Saddle Rock Golf, LLC), Operating Agreement (Century Communities of Georgia, LLC)
Withdrawal of a Member. For purposes of this Operating Agreement, a “Withdrawn Member” is a member who is bankrupt, has resigned, or has retired (a “Withdrawal Event”). Upon a Withdrawal Event, the Withdrawn Member or any successor in interest to the Withdrawn Member shall become an Assignee of the Withdrawn Member’s Membership Interest in the Company.
Appears in 2 contracts
Samples: Operating Agreement (Century Communities of Georgia, LLC), Operating Agreement (Saddle Rock Golf, LLC)
Withdrawal of a Member. For purposes of this Operating Agreement, a “Withdrawn Member” is a member who is bankrupt, has resigned, has dissolved or has retired (a ““ Withdrawal Event”). Upon a Withdrawal Event, the Withdrawn Member or any successor in interest to the Withdrawn Member shall automatically become an Assignee of the Withdrawn Member’s Membership Interest in the Company.
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Withdrawal of a Member. For purposes of this Agreement, a “Withdrawn Member” is a member who is bankrupt, has resigned, or has retired (a “Withdrawal Withdraw al Event”). Upon a Withdrawal Event, the Withdrawn Member or any successor in interest to the Withdrawn Member shall become an Assignee of the Withdrawn Member’s Membership Interest in the Company.
Appears in 1 contract
Samples: Operating Agreement (Century Communities of Georgia, LLC)
Withdrawal of a Member. For purposes of this Agreement, a “Withdrawn Member” is a member who is bankrupt, has resigned, has retired or has retired dissolved (a “Withdrawal Event”). Upon a Withdrawal Event, the Withdrawn Member or any successor in interest to the Withdrawn Member shall become an Assignee “Assignee” of the Withdrawn Member’s Membership Interest in the Company.
Appears in 1 contract
Withdrawal of a Member. For purposes of this Operating Agreement, a ““ Withdrawn Member” is a member who is bankrupt, has resigned, has dissolved or has retired (a ““ Withdrawal Event”). Upon a Withdrawal Event, the Withdrawn Member or any successor in interest to the Withdrawn Member shall automatically become an Assignee of the Withdrawn Member’s Membership Interest in the Company.
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