Effect of Involuntary Withdrawal. Immediately upon the occurrence of an event of Involuntary Withdrawal (other than with respect to the death of a Member who makes a permitted Testamentary Transfer pursuant to Section 7.5), the successor of the withdrawn Member shall thereupon become an Interest Holder but shall not become a Member; provided that the successor may become a substituted Member upon satisfaction of the Conditions of Transfer set forth in section 7.1(a) and the procurement of the consent of all the remaining Members, which consent may be withheld for any reason or for no reason.
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Samples: Operating Agreement (Advanced Na, LLC), Operating Agreement (Advanced Na, LLC), Operating Agreement (Advanced Na, LLC)
Effect of Involuntary Withdrawal. Immediately upon the occurrence of an event of Involuntary Withdrawal (other than with respect to the death of a Member who makes a permitted Testamentary Transfer pursuant to Section 7.5), the successor of the withdrawn Member shall thereupon become an Interest Holder but shall not become a Member; provided that the successor may become a substituted Member upon satisfaction of the Conditions of Transfer set forth in section 7.1(a7.1 (a) and the procurement of the consent of all the remaining Members, which consent may be withheld for any reason or for no reason.
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