Dissociation of a Member definition

Dissociation of a Member or "Dissociation" occurs when the Company has notice or knowledge of an event that has terminated a Member's continued Membership in the Company (including an event that leaves a Member without any Governance Rights).
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Examples of Dissociation of a Member in a sentence

  • Upon the Dissociation of a Member, such Member shall resign all officer and Board positions he or she may hold, if any.

  • In the event of the Dissociation of a Member, all of the Managers appointed by such Dissociated Member shall be immediately and automatically removed as a Manager of the Company, without any further action on the part of the Members or Managers of the Company.

  • The Company shall have the right to offset any payments due under this Article VIII by any damages that the Company may incur as a result of a Dissociation of a Member in contravention of this Agreement.

  • A Dissociation of a Member by withdrawing by express will shall be a breach of this Agreement.

  • The resignation of a Manager who is also a Member shall not affect the Manager's rights as a Member and shall not constitute a Dissociation of a Member.

  • Upon Dissociation of a Member, the Company (upon the unanimous written consent of the Members) shall have the option, exercisable by written notice (an "ELECTION NOTICE") delivered within 60 days after the event of Dissociation, to purchase the Dissociated Member's Percentage Interest for a buyout price determined in the manner hereafter provided.

  • The Company shall have the right to offset any payments due under this Article XII by any damages that the Company may incur as a result of a Dissociation of a Member in contravention of this Agreement.

  • Upon the Dissociation of a Member other than pursuant to Section 11.1(a)(i), the transferee or other successor in interest to the dissociated Member’s Interest may, to the extent (and only to the extent) required by the Law, exercise all of such Dissociated Member’s rights hereunder as if such Dissociated Member has not Dissociated and, upon compliance with Article X, such person shall be admitted as a Member.

  • A Dissociation of a Member shall not be considered an Assignment pursuant to the terms of this Agreement.

  • The Company shall continue despite an Event of Dissociation of a Member who is not a Manager.

Related to Dissociation of a Member

  • of a Member means the salary corresponding in any given year to a full-time appointment at the member's rank and step, as set out for that year in Schedule A.

  • Interested Member means a Member who is interested in a matter for any of the reasons set out in section 62 of the Act.

  • Public member means a person who is not a health

  • Tribal Member means an enrolled member of the Tribe.

  • Substitute Member means a Person who is admitted as a Member of the Company pursuant to Section 2.7 as a result of a Transfer of Shares to such Person.