Common use of Cessation of Membership Clause in Contracts

Cessation of Membership. A Person shall cease to be a Member only upon the assignment of such Person's entire Interest and as otherwise expressly provided in this Agreement or the Company's Articles of Organization.

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement (Duke Energy Florida, Llc.), Operating Agreement (Duke Energy Progress, Llc.), Operating Agreement (Duke Energy Progress, Llc.)

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Cessation of Membership. A Person shall cease to be a Member only upon the assignment of such Person's ’s entire Interest and as otherwise expressly provided in this Agreement or the Company's ’s Articles of Organization.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (Duke Energy Indiana, LLC), Operating Agreement (Duke Power CO LLC)

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