Expulsion of a Member. The Company may expel a Member for cause 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 Series will be effective upon the Member’s receipt of written notice of the expulsion by the Series. If a Member is expelled, that Member forfeits any and all rights to any accrued distribution during the interim quarter, whether or not the withdrawal is partial or total.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement (Forte Investment Fund, LLC), Limited Liability Company Operating Agreement (Concreit Series LLC), Limited Liability Company Operating Agreement (Concreit Series LLC)
