Common use of Covenant Not to Withdraw, Transfer, or Dissolve Clause in Contracts

Covenant Not to Withdraw, Transfer, or Dissolve. Except as otherwise permitted by this Agreement, each Member hereby covenants and agrees not to (a) withdraw or attempt to withdraw from the Company, (b) exercise any power under the Act to dissolve the Company, or (c) transfer all or any portion of his Membership Interest. Further, each Member hereby covenants and agrees to continue to carry out the duties of a Member hereunder until the Company is dissolved and liquidated pursuant to Article XIII hereof.

Appears in 2 contracts

Samples: Member Control Agreement (Telex Communications International LTD), Member Control Agreement (Telex Communications Inc)

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Covenant Not to Withdraw, Transfer, or Dissolve. Except as otherwise ----------------------------------------------- permitted by this Agreement, each Member the Members hereby covenants covenant and agrees agree not to (a) withdraw or attempt to withdraw from the Company, (b) exercise any power under the Act to dissolve the Company, or (c) transfer all or any portion of his Membership Interestits interest in the Company. Further, each Member hereby covenants and agrees to continue to carry out the duties of a Member the Members hereunder until the Company is dissolved and liquidated pursuant to Article XIII hereofliquidated.

Appears in 1 contract

Samples: Operating Agreement (National Earth Products Inc)

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Covenant Not to Withdraw, Transfer, or Dissolve. Except as otherwise permitted by this Agreement, each Member hereby covenants and agrees not to (a) take any action to file a certificate of dissolution or its equivalent with respect to itself, (b) take any action that would cause a voluntary Bankruptcy of such Member, (c) withdraw or attempt to withdraw from the Company, (bd) exercise any power under the Act to dissolve the Company, or (ce) transfer all or any portion petition for judicial dissolution of his Membership Interest. Further, each Member hereby covenants and agrees to continue to carry out the duties of a Member hereunder until the Company is dissolved and liquidated pursuant to Article XIII hereofCompany.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Federated National Holding Co)

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