Dissociation. Except as otherwise provided, upon the occurrence of a dissociation event with respect to a Member, the LLC and the remaining Members shall have the option to purchase the dissociated Member's interest at the Set Price in the same manner as provided in ARTICLE VIII and as if the dissociated Member had notified the LLC of his desire to sell all of his LLC interest. The date the LLC received the notice as provided in ARTICLE VIII triggering the options shall be deemed to be the date that the LLC receives actual notice of the dissociation event.
Appears in 27 contracts
Samples: Operating Agreement, Sample LLC Operating Agreement, LLC Sample Operating Agreement
Dissociation. Except as otherwise provided, upon the occurrence If a Member of a dissociation event with respect to a Member, the LLC and becomes dissociated, the remaining Members shall have the option to purchase the dissociated Member's member’s interest at the Set Price in the same manner fashion as provided stated in ARTICLE VIII and Article 9. The sale will be carried out as if the dissociated Member had notified the LLC of his his/her desire to sell all of his his/her LLC interest. The date the LLC received the notice as provided in ARTICLE VIII Article 28 triggering the options shall be deemed to be the date that the LLC receives actual notice of the dissociation event.
Appears in 6 contracts
Samples: Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Dissociation. Except as otherwise provided, upon the occurrence If a Member of a dissociation event with respect to a Member, the LLC and becomes dissociated, the remaining Members shall have the option to purchase the dissociated Member's member’s interest at the Set Price in the same manner fashion as provided stated in ARTICLE VIII and Article 9. The sale will be carried out as if the dissociated Member had notified the LLC of his his/her desire to sell all of his his/her LLC interest. The date the LLC received the notice as provided in ARTICLE VIII Article 28, triggering the options options, shall be deemed to be the date that the LLC receives actual notice of the dissociation event.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Dissociation. Except as otherwise provided, upon the occurrence of a dissociation event with respect to a Member, the LLC and the remaining Members shall have the option to purchase the dissociated Member's interest at the Set Price in the same manner as provided in ARTICLE VIII VII and as if the dissociated Member had notified the LLC of his desire to sell all of his LLC interest. The date the LLC received the notice as provided in ARTICLE VIII VII triggering the options shall be deemed to be the date that the LLC receives actual notice of the dissociation event.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
Dissociation. Except as otherwise provided, upon the occurrence of a dissociation event with respect to a Member, the LLC and the remaining Members shall have the option to purchase the dissociated Member's ’s interest at the Set Price in the same manner as provided in ARTICLE VIII VII and as if the dissociated Member had notified the LLC of his desire to sell all of his LLC interest. The date the LLC received the notice as provided in ARTICLE VIII VII triggering the options shall be deemed to be the date that the LLC receives actual notice of the dissociation event.
Appears in 1 contract
Samples: Operating Agreement
