Misappropriation of Funds. Any misappropriation of funds by the Administrative Member provided that if such misappropriation of funds is committed by an employee of the Administrative Member, then such event shall not constitute a Just Cause Event if, within ten (10) Business Days after being notified in writing of such event, the Administrative Member makes full restitution to the Company of all damages caused by such event and terminates the employment of such employee.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Tejon Ranch Co), Limited Liability Company Agreement (Tejon Ranch Co)
Misappropriation of Funds. Any misappropriation of funds by the Administrative Member provided that if such misappropriation of funds is committed by an employee of the Administrative Member, then such event shall not constitute a Just Cause Event if, within ten (10) Business Days after being notified in writing of such event, the Administrative Member makes full restitution to the Company of all damages caused by such event and terminates the employment of such employee.. (d)
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Tejon Ranch Co), Limited Liability Company Agreement (Tejon Ranch Co)