Effect on Member. An Event of Termination does not give a Member a right to have such Member’s Membership Interest purchased except as specifically provided in this Agreement. The Membership Interest of such Member shall continue to have the same Governance Rights and Financial Rights as existed immediately prior to such Event of Termination except to the extent that such Event of Termination resulted in the redemption of such Membership Interest or the cancellation of such Membership Interest as in the event of a merger in which the Company is not the surviving organization.
Appears in 3 contracts
Samples: Member Control Agreement, Member Control Agreement, Member Control Agreement (Red Trail Energy, LLC)
Effect on Member. An Event of Termination does not give a Member a right to have such Member’s Membership Interest purchased except as specifically provided in this Agreement. The Membership Interest of such the Member shall continue to have the same Governance Rights and Financial Rights as existed immediately prior to such Event of Termination except to the extent that such Event of Termination resulted in the redemption of such Membership Interest or the cancellation of such Membership Interest as in the event of a merger in which the Company is not the surviving organization.
Appears in 1 contract
Samples: Member Control Agreement
