Compulsory Withdrawal. Upon the occurrence and during the continuance of an Event of Default with respect to a Party, the Management Committee may require, by written notice, such Defaulting Party to withdraw from the Agreement and the Project.
Compulsory Withdrawal. 10.1 If it shall come to the notice of the Depositary, or if the Depositary shall have reason to believe, that any Depositary Receipts:
(a) are owned directly or beneficially by any person in circumstances which, in the reasonable opinion of the Depositary, might result in the Depositary or the Custodian suffering any losses (including tax losses) or pecuniary, fiscal or material regulatory disadvantage or any other material burden or disadvantage which it might not otherwise have suffered;
(b) are owned directly or beneficially by, or otherwise for the benefit of, any person in breach of any law or requirement of any jurisdiction or governmental authority or so as to result in ownership of any Company Securities exceeding any limit under, or otherwise infringing, the Articles of Association of or law applicable to the Company or the terms of issue of Company Securities;
(c) are owned directly or beneficially by, or otherwise for the benefit of, any person who fails to furnish to the Depositary such proof certificates and representations and warranties as to matters of fact, including, without limitation, as to his identity, as the Depositary may reasonably require for the administration or implementation of this Deposit Agreement in accordance with applicable laws and regulations;
(d) are held by a Holder who has failed to duly and punctually perform any obligation to the Depositary or a Custodian imposed upon him by virtue of this Deposit Agreement or any other agreement or instrument to which such Holder is a party or by which such Holder is bound with respect to Depositary Receipts; or
(e) are held on behalf of a Holder or Holders representing Company Securities of such value as to require the Depositary or Custodian, under applicable law, to make a mandatory offer for other Company Securities, then the Holder shall be deemed, at the election of the Depositary to have requested the cancellation of his Depositary Receipts(s) and the withdrawal of the Deposited Securities represented by his Depositary Receipts(s).
10.2 If any regulatory authority refuses to approve the holding by the Depositary or the Custodian of Company Securities at or above a certain level, and requires the Depositary or Custodian to divest itself of some or all of Company Securities held by it, then:
(a) the Depositary will consult with the Company as to what action it proposes to take; and
(b) a Holder or Holders (as appropriate) will be deemed to have requested the cancellation of...
Compulsory Withdrawal. 12.1 In the event that any of the following events shall arise in relation to any Member:
(a) a petition is presented or an order is made or a resolution is passed for the winding up or bankruptcy or insolvent re-organization of such Member or bankruptcy protection proceedings including without limitation administration proceedings or in the USA Chapter 11 proceedings or a receiver, trustee or liquidator is appointed in respect of such Member or any event analogous thereto and having the same or similar effect shall occur in relation to such Member; or
(b) such Member shall commit any breach of any of the terms of this Agreement which shall not be remedied or made good within a period of thirty (30) days after notice requiring remedy of the same shall have been served upon the relevant Member by Company; then, the Manager may (at its option) serve upon the Member in question a notice in writing requiring its compulsory withdrawal from this Agreement. Such notice shall become effective for the purposes of expelling such Member from this Agreement with immediate effect. Any compulsory withdrawal shall, however, operate without prejudice to the obligations of the relevant Member accrued up to the effective date of such notice (including, without limitation, the obligations of such Member in respect of outstanding costs and expenses of the Manager) and shall, at Manager's option, be subject to (i) the fulfillment of all existing contract commitments for that Member's Member Vessel(s) or (ii) the provision by that Member of a substitute vessel(s) for a duration equal to the remaining period of the contract commitments for which such relevant Member Vessel(s) would have been used.
12.2 In the event that any Member Vessel will be off-hire for a period exceeding 30 days, the Manager may (at its option) serve upon the relevant Member a notice in writing requiring the compulsory withdrawal of such Member Vessel and the consequent withdrawal of such Member in the event any such Member Vessel is Member's only Vessel.
Compulsory Withdrawal. (a) If a member fails to fulfill any of its obligations under this Agreement, the Fund may declare the member ineligible to use the resources of the Fund. Nothing in this Section shall be deemed to limit the provisions of Article IV, Section 6, Article V, Section 5, or Article VI, Section 1.
(b) If, after the expiration of a reasonable period the member persists in its failure to fulfill any of its obligations under this Agreement, or a difference between a member and the Fund under Article IV, Section 6, continues, that member may be required to withdraw from membership in the Fund by a decision of the Board of Governors carried by a majority of the governors representing a majority of the total voting power.
(c) Regulations shall be adopted to ensure that before action is taken against any member under (a) or (b) above, the member shall be informed in reasonable time of the complaint against it and given an adequate opportunity for stating its case, both orally and in writing.
Compulsory Withdrawal. If a member fails to fulfill any of its obligations under this Agreement, the Fund may declare the member ineligible to use the general resources of the Fund. Nothing in this Section shall be deemed to limit the provisions of Article V, Section 5 or Article VI, Section 1.
Compulsory Withdrawal. Any Member may, at any time, for any reason and with no advance written notice from the Managing Member, be required to withdraw as a Member in the Managing Member’s sole discretion. The Managing Member shall give notice (which need not be prior notice) to such Member of the date of such compulsory withdrawal. Upon any such compulsory withdrawal, a Member will receive the Net Asset Value of his Interest as of the date of withdrawal. Any such withdrawal shall be treated as, and be subject to all the limitations of, a voluntary withdrawal of capital as set forth herein, provided, however, that no withdrawal charge shall be charged on such compulsory withdrawal.
Compulsory Withdrawal. (a) If a member fails to fulfill any of its obligations under this Agreement, the Fund may declare the member ineligible to use the resources of the Fund. Nothing in this Section shall be deemed to limit the provisions of Article IV, Section 6, Article V, Section 5, or Article VI, Section 1.
(b) If, after the expiration of a reasonable period the member persists in its failure to fulfill any of its obligations under this Agreement, or a difference between a member and the Fund under Article IV, Section 6, continues, that member may be required to withdraw from membership in the Fund by a decision of the Board of Governors carried by a majority of the governors representing a majority of the total voting power.
(c) Regulations shall be adopted to ensure that before action is taken against any member under (a) or
Compulsory Withdrawal. (a) If a member fails to fulfil any of its obligations under this Agreement, the Fund may declare the member ineligible to use the resources of the Fund. Nothing in this section shall be deemed to limit the provisions of Article IV, section 6, Article V, section 5, or Article VI, section 1.
(b) If, after the expiration of a reasonable period the member persists in its failure to fulfil any of its obligations under this Agreement, or a difference between a member and the Fund under Article IV, section 6, continues, that member may be required to withdraw from member- ship in the Fund by a decision of the Board of Governors carried by a majority of the Governors representing a majority of the total voting power.
(c) Regulations shall be adopted to ensure that before action is taken against any member under (a) or (b) above, the member shall be informed in reasonable time of the complaint against it and given an adequate opportunity for stating its case, both orally and in writing. When a member withdraws from the Fund, normal transactions of the Fund in its currency shall cease and settlement of all accounts between it and the Fund shall be made with reasonable dispatch by agreement between it and the Fund. If agreement is not reached promptly, the provisions of Schedule D shall apply to the settlement of accounts.
Compulsory Withdrawal. The General Partner may cause a Limited Partner to withdraw from the Partnership (i)
Compulsory Withdrawal. A. Any Member who shall intentionally breach a material term of this Agreement and who remains in breach thirty (30) days after receiving written notice of breach and after having reasonable opportunity to cure, and who fails to cure, shall withdraw (“Withdrawing Member”) from the Company when requested to do so, upon thirty (30) days written notice by the remaining Members. The gross amount to be paid to the Withdrawing Member an amount equal to the value of Withdrawing Member's capital account, except as modified under Subsection (b) hereunder.
B. Thereafter, from said gross amount due to such Withdrawing Member, there shall also be deducted, all damages resulting from his breach of this Agreement.
