Expulsion of a Member. At any time there are more than two (2) Members, the Company may expel a Member for cause. Cause for expulsion exists if the Member has materially breached or is unable to perform the Member’s material obligations under this Agreement. A Member’s expulsion from the Company will be effective upon the Member’s receipt of written notice of the expulsion.
Appears in 6 contracts
Samples: Limited Liability Company Operating Agreement (PFG Fund V, LLC), Limited Liability Company Operating Agreement (PFG Fund V, LLC), Limited Liability Company Operating Agreement (PFG Fund V, LLC)
Expulsion of a Member. At any time there are more than two (2) Members, the Company LLC may expel a Member for cause. Cause for expulsion exists if the Member has materially breached or is unable to perform the Member’s material obligations under this Agreement. A Member’s expulsion from the Company LLC will be effective upon the Member’s receipt of written notice of the expulsion.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement (Cf Fund Ii, LLC), Operating Agreement (Cf Fund Ii, LLC), Operating Agreement (Cf Fund Ii, LLC)
Expulsion of a Member. At any time there are more than two (2) Members, the Company may expel a Member Member, but only for cause. cause and with the approval of all other Members, Cause for expulsion exists if the Member has materially breached or is unable to perform the Member’s 's material obligations under this Agreement. A Member’s 's expulsion from the Company will be effective upon the Member’s 's receipt of written notice of the expulsion.
Appears in 1 contract
Samples: Operating Agreement (Diagnostic Pathology Management Services Inc)
Expulsion of a Member. At any time there are more than two (2) Members, the Company may expel a Member Member, but only for causecause and with the approval of a majority in interest of the other Members. Cause for expulsion exists if the Member has materially breached or is unable to perform the Member’s material obligations under this Agreement. A Member’s expulsion from the Company will be effective upon the Member’s receipt of written notice of the expulsion.
Appears in 1 contract
