Common use of Withdrawal of Members Clause in Contracts

Withdrawal of Members. No Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s Units in accordance with the terms of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s).

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Walgreens Boots Alliance, Inc.), Limited Liability Company Agreement (Walgreens Boots Alliance, Inc.), Limited Liability Company Agreement (Walgreens Boots Alliance, Inc.)

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Withdrawal of Members. No Member shall have the right to voluntarily withdraw from as a Member of the CompanyCompany other than following the Transfer or, except in with respect to PICO, the case of an Involuntary Withdrawal or Transfer exchange of all of Membership Units owned by such Member’s Units , which Transfer shall be in accordance with Article VII. No Member shall seek a decree of judicial dissolution with respect to the terms of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s)Company.

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement (UCP, Inc.), Limited Liability Company Operating Agreement (UCP, Inc.), Limited Liability Company Operating Agreement (UCP, Inc.)

Withdrawal of Members. No A Member shall have the right to may not withdraw from the Company, except in upon (i) the case dissolution of an Involuntary Withdrawal or Transfer of all of such Member’s Units the Company pursuant to and in accordance with Section 11.01 or (ii) the terms of this Agreement. Immediately upon Transfer to another Person (including the occurrence of an Involuntary Withdrawal, the successor(sCompany) of all, but not less than all, of the Membership Interest owned by such Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s(the “Withdrawing Member”).

Appears in 2 contracts

Samples: Implementation Agreement (Peabody Energy Corp), Implementation Agreement (Arch Coal Inc)

Withdrawal of Members. No Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer transfer of all of such Member’s Units in accordance with the terms of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s).

Appears in 2 contracts

Samples: Securities Purchase Agreement (Nord Anglia Education, Inc.), Transaction Agreement (Nord Anglia Education, Inc.)

Withdrawal of Members. No A Member shall be deemed to have withdrawn from the Company upon (a) such Member's Technical Withdrawal, (b) the redemption in accordance with the terms hereof, of all of the Member Interests held by such Member or (c) the permitted Transfer by a Member of all of its Membership Interests. Except as set forth in this Section 13.5, no Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s Units in accordance with the terms of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s).

Appears in 1 contract

Samples: Leucadia National Corp

Withdrawal of Members. No Member shall have the right be permitted to --------------------- withdraw from the Company other than as a consequence of the Company, except in the case of an Involuntary Withdrawal or Transfer 's repurchase of all of the Units of such Member’s Units in accordance with Member or the terms Transfer by such Member of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) all of the Units held by such Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s)and the admission of the transferee as a Substitute Member.

Appears in 1 contract

Samples: Operating Agreement (Greenmountain Com Co)

Withdrawal of Members. No Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s 's Units in accordance with the terms of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s).

Appears in 1 contract

Samples: Limited Liability Company Agreement

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Withdrawal of Members. No Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s Units in accordance with the terms of this AgreementWithdrawal. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s). No Member shall have the right to receive the return of any capital contribution in connection with an Involuntary Withdrawal.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Dolan Media CO)

Withdrawal of Members. No Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s Units in accordance with the terms of this AgreementWithdrawal. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s).

Appears in 1 contract

Samples: Operating Agreement (Dolan Media CO)

Withdrawal of Members. No A Member shall be deemed to have withdrawn from the Company upon (a) such Member’s Technical Withdrawal, (b) the redemption in accordance with the terms hereof, of all of the Member Interests held by such Member or (c) the permitted Transfer by a Member of all of its Membership Interests. Except as set forth in this Section 13.5, no Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s Units in accordance with the terms of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s).

Appears in 1 contract

Samples: Services Agreement (Jefferies Group Inc /De/)

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