Effect of Member Cessation Sample Clauses

Effect of Member Cessation. If at any time a Member ceases to be a Member of the Company for any reason: (i) that Member's Governors on the Board shall, without further action on the part of the Members or the Board, automatically and immediately cease being Governors; (ii) if the departing Member's Membership Interest is acquired by an entity who becomes a Member in accordance with this Agreement, such new Member shall be entitled to appoint Governors to the Board in accordance with this Article unless otherwise agreed to by all the Members approving admission of the new Member, and, if there is no such new Member, the Board shall be deemed to be reconstituted and consist of the individuals who are then Governors; and (iii) effective upon the departure of the Member, this Agreement shall be deemed amended to the extent necessary to conform to the provisions of this Section 7.1(f).
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Related to Effect of Member Cessation

  • Effect of cessation or determination of Agreement 35. (1) On the cessation or determination of this Agreement —

  • Effect of Force Majeure Event If either party to this contract cannot meet an obligation under this contract because of an event outside the control of that party (‘a force majeure event’):

  • Notification of Force Majeure Event 11.5.1 The Affected Party shall give notice to the other Party of any event of Force Majeure as soon as reasonably practicable, but not later than seven (7) days after the date on which such Party knew or should reasonably have known of the commencement of the event of Force Majeure. If an event of Force Majeure results in a breakdown of communications rendering it unreasonable to give notice within the applicable time limit specified herein, then the Party claiming Force Majeure shall give such notice as soon as reasonably practicable after reinstatement of communications, but not later than one (1) day after such reinstatement. Provided that such notice shall be a pre-condition to the Affected Party’s entitlement to claim relief under this Agreement. Such notice shall include full particulars of the event of Force Majeure, its effects on the Party claiming relief and the remedial measures proposed. The Affected Party shall give the other Party regular (and not less than monthly) reports on the progress of those remedial measures and such other information as the other Party may reasonably request about the Force Majeure Event.

  • Effect of Force Majeure If either Party is rendered wholly or partially unable to perform its obligations under this Agreement because of a Force Majeure Act, that Party shall be excused from whatever performance is affected by the Force Majeure Act to the extent so affected, provided that:

  • Disability of Member Upon the disability of a Member, the Member may continue to act as Manager hereunder or appoint a person to so serve until the Member's Interests and Capital Account of the Member have been transferred or distributed.

  • Effect of Withdrawal The Company shall not be dissolved by the dissolution or other event of withdrawal of a Member if any Member remains to carry on the business of the Company.

  • Corrective Action and Notice If Customer becomes aware of any actual or threatened activity prohibited by Section 3.3, Customer shall, and shall cause its Authorized Users to, immediately: (a) take all reasonable and lawful measures within their respective control that are necessary to stop the activity or threatened activity and to mitigate its effects (including, where applicable, by discontinuing and preventing any unauthorized access to the Services and Provider Materials and permanently erasing from their systems and destroying any data to which any of them have gained unauthorized access); and (b) notify Provider of any such actual or threatened activity.

  • Termination of Membership You may terminate your membership by giving us written notice or by withdrawing your minimum required membership share(s), if any, and closing all your accounts. You may be denied services for causing a loss to the Credit Union, or you may be expelled for any reason as allowed by applicable law.

  • NO CESSATION OF WORK 6.01 Neither the Union nor any employee shall take part in or call or encourage any strike, sit-down, slow-down, or any suspension of work against the Company which shall in any way affect the operations of the Company; nor shall the Company engage in any lockout at its Plants or Mines in the Sudbury District.

  • Termination of Mediation The mediation shall be terminated:

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