Forced Withdrawal. Any Participant that is or becomes in default under any covenant contained in Article VI hereof or for which any of the representations contained in Article V hereof ceases to be true, shall be deemed to have given a notice of withdrawal pursuant to Section 7.2 hereof immediately upon the occurrence and continuation of such default, but shall not be deemed to have requested the payment of its Participant Balances from any Portfolio unless and until such Participant either makes an actual payment request to the Chief Investment Officer or the Chief Investment Officer makes a final determination that such default has occurred, is continuing and no cure is available for such default.
Appears in 5 contracts
Samples: Municipal Cooperation Agreement, Municipal Cooperation Agreement, Municipal Cooperation Agreement
