Effect of Dissociation Events Sample Clauses

Effect of Dissociation Events. The occurrence of a Dissociation Event shall cause such Member to immediately and automatically (i) cease to be a Member, (ii) lose all right, title and interest in its Membership Interest, and (iii) lose all rights and benefits hereunder; provided that certain provisions of this Agreement shall survive such Dissociation Event and shall continue to be obligations of such Member as set forth in Section 16.12 hereof. A Dissociation Event shall not entitle Member to any distributions from the Company, provided that the Board of Directors may, but is not required to, authorize cash distributions as permissible by an organization exempt from taxation under Section 501(c)(6) of the Code and this Agreement.
Sample 1
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Effect of Dissociation Events. The occurrence of a Dissociation Event shall cause such Member to immediately and automatically (i) cease to be a Member, (ii) lose all right, title and interest in its Membership Interest, and (iii) lose all rights and benefits hereunder; provided that certain provisions of this Agreement shall survive such Dissociation Event and shall continue to be obligations of such Member as set forth in Section 16.12 hereof.
Sample 1

Related to Effect of Dissociation Events

  • Termination Events This Agreement may, by notice given prior to or at the Closing, be terminated:

  • Withdrawal of Property from Market or Termination of Discussions Potential Investor acknowledges that the Property has been offered for sale subject to withdrawal of the Property from the market at any time or rejection of any offer because of the terms thereof, or for any other reason whatsoever, without notice, as well as the termination of discussions with any party at any time without notice for any reason whatsoever.

  • EFFECT OF SUSPENSION OR TERMINATION 18.1 The Department may exercise its right to give the Training Provider a direction under Clause 4.7 if:

  • CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION 9.1 The Effective Date of this Settlement Agreement shall not occur unless and until each of the following events occurs and shall be the date upon which the last (in time) of the following events occurs:

  • Dissolution Event If there is a Dissolution Event before the termination of this Safe, the Investor will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds equal to the Cash-Out Amount, due and payable to the Investor immediately prior to the consummation of the Dissolution Event.

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