Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration and withdrawal. If for any reason the membership of a Member is terminated, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as Assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for in Section 9.7 hereof.
Appears in 18 contracts
Samples: Operating Agreement (Advanced BioEnergy, LLC), Operating Agreement, Operating Agreement (Iowa Renewable Energy, LLC)
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration and withdrawal. If for any reason the membership of a Member is terminatedterminated as provided in this Agreement or the Act, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as an unadmitted Assignee of the Membership Economic Interest Financial Rights owned before the termination of membership, having only the rights of an unadmitted Assignee provided for unadmitted Assignees in Section 9.7 hereof.
Appears in 16 contracts
Samples: Operating Agreement (Highwater Ethanol LLC), Operating Agreement, Member Control Agreement
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration and withdrawal. If for any reason the membership of a Member is terminatedterminated as provided in this Agreement or the Act, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as an unadmitted Assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for unadmitted Assignees in Section 9.7 hereof.
Appears in 12 contracts
Samples: Operating Agreement (Homeland Energy Solutions LLC), Operating Agreement, Operating Agreement (Homeland Energy Solutions LLC)
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration and withdrawal. If for any reason the membership of a Member is terminated, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as Assignee assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for in Section 9.7 9.5 hereof.
Appears in 7 contracts
Samples: Operating Agreement (Golden Grain Energy), Operating Agreement (Golden Grain Energy), Operating Agreement (Golden Grain Energy)
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration resignation and withdrawal. If for any reason the membership of a Member is terminated, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as Assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for in Section 9.7 hereof.
Appears in 6 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement (First United Ethanol LLC)
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration and withdrawal. If for any reason the membership of a Member is terminated, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as Assignee assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for in Section 9.7 10.6 hereof.
Appears in 4 contracts
Samples: Operating Agreement (Little Sioux Corn Processors LLC), Operating Agreement (Badger State Ethanol LLC), Operating Agreement (Little Sioux Corn Processors LLC)
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration and withdrawal. If for any reason the membership of a Member is terminated, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as Assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for in Section 9.7 9.10 hereof.
Appears in 3 contracts
Samples: Operating Agreement (Northwest Iowa Renewable Energy LLC), Operating Agreement (Prairie Creek Ethanol LLC), Operating Agreement (Prairie Creek Ethanol LLC)
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration and withdrawal. If for any reason the membership of a Member is terminatedterminated as provided in this Agreement or the Act, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as an unadmitted Assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for unadmitted Assignees in Section 9.7 9.8 hereof.
Appears in 2 contracts
Samples: Company Agreement (Liberty Renewable Fuels LLC), Company Agreement (Liberty Renewable Fuels LLC)
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration resignation and withdrawal. If for any reason the membership of a Member is terminated, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as Assignee assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for in Section 9.7 9.5 hereof.
Appears in 1 contract
Samples: Operating Agreement
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration removal and withdrawal. If for any reason the membership of a Member is terminated, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as an Assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for in Section 9.7 hereof.
Appears in 1 contract
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration and withdrawal. If for any reason the membership of a Member is terminated, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as Assignee of the Membership Economic Interest owned before the termination of Table of Contents membership, having only the rights of an unadmitted Assignee provided for in Section 9.7 hereof.
Appears in 1 contract
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration resignation and withdrawal. If for any reason the membership of a Member is terminated, the Member whose membership has terminated becomes a non-Member Unit Holder and loses all Membership Voting Interests and shall be considered merely as Assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for in Section 9.7 hereofwith respect to such Units.
Appears in 1 contract
Samples: Operating Agreement (Siouxland Renewable Holdings, LLC)
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration and withdrawal. If for any reason the membership of a Member is terminated, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as Assignee an assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for in Section 9.7 10.6 hereof.
Appears in 1 contract
Samples: Operating Agreement
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration and withdrawal. If for any reason the membership of a Member is terminated, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as Assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for in Section 9.7 hereof.resignation and
Appears in 1 contract
Termination of Membership. The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration and withdrawal. If for any reason the membership of a Member is terminated, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as an Assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for in Section 9.7 hereof.
Appears in 1 contract
