Withdrawal of a Member. A Member shall cease to be a Member if it no longer Beneficially Owns any Membership Units (a “Withdrawal Event”). Immediately after a Withdrawal Event, the withdrawn Member and its Affiliates shall have no continuing rights or obligations under this Agreement but will remain subject to the terms of Ancillary Agreements to the extent provided by, and in accordance with, the express terms thereof. Subject to compliance with Article 4 hereof, a Member may voluntarily cause a Withdrawal Event and such action shall not be a breach of this Agreement.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Earthlink Inc), Limited Liability Company Agreement (Earthlink Inc), Limited Liability Company Agreement (Earthlink Inc)
Withdrawal of a Member. A Any Member shall automatically cease to be a Member if at the time it no longer Beneficially Owns any Membership LLC Units (a “Withdrawal Event”). Immediately after a Withdrawal EventEvent with respect to an Initial Member, the withdrawn such Initial Member and its Affiliates shall have no continuing rights or obligations under this Agreement but will remain subject to the terms of Ancillary Agreements to the extent Agreement, except as provided by, and in accordance with, the express terms thereof. Subject to compliance with Article 4 hereof, a Member may voluntarily cause a Withdrawal Event and such action shall not be a breach of this Agreementherein.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Metropcs Communications Inc), Limited Liability Company Agreement (Metropcs Communications Inc)
