Effect of Tender. The member tendering ownership shares will cease to be a member with respect to the shares when the tender is accepted by the company or other members. Thereafter, the tendering member will have no rights as a member in the company, except the right to have the tendered shares purchased in accordance with this agreement.
Appears in 2 contracts
Samples: Investor Operating Agreement, Investor Operating Agreement
Effect of Tender. The member Member tendering ownership shares the interest will cease to be a member Member with respect to the shares when tendered interest upon an acceptance of the tender is accepted by the company or other membersCompany. Thereafter, the Member tendering member the interest will have no rights as a member Member in the companyCompany, except the right to have the tendered shares interest purchased in accordance with the terms of this agreement.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
Effect of Tender. The member tendering ownership shares will cease to be a member with respect to the ownership shares when the tender is accepted by the company or the other members. Thereafter, the member tendering member the shares will have no rights as a member in the company, except the right to have the tendered shares purchased in accordance with the terms of this agreement.
Appears in 1 contract
Samples: Operating Agreement
Effect of Tender. The member Member tendering ownership shares the interest will cease to be a member Member with respect to the shares when tendered interest upon an acceptance of the tender is accepted by the company or other membersCompany and/or individual Members. Thereafter, the Member tendering member the interest will have no rights as a member Member in the companyCompany, except the right to have the tendered shares interest purchased in accordance with the terms of this agreementAgreement.
Appears in 1 contract
