Common use of Involuntary Withdrawal Clause in Contracts

Involuntary Withdrawal. Where the Network determines on the basis of at least a two-thirds majority vote of the Board of Directors that a Participating Institution has failed to comply with the duties and responsibilities set out in this Agreement, it shall promptly notify the Participating Institution(s) of the particulars. The Participating Institution shall have thirty (30) days within which to remedy the failure, failing which the Participating Institution may be deemed to have withdrawn from this Agreement.

Involuntary Withdrawal. Where the Network determines on the basis of at least a two-thirds majority vote of the Board of Directors that a Participating Institution Network Member has failed to comply with the duties and responsibilities set out in this Agreement, it shall promptly notify the Participating Institution(sNetwork Member(s) of the particulars. The Participating Institution Network Member shall have thirty (30) days within which to remedy the failure, failing which otherwise the Participating Institution Network Member may be deemed to have withdrawn from this Agreement.

Involuntary Withdrawal. Where the Network determines on the basis of at least a two-two- thirds majority vote of the Board of Directors that a Participating Institution Network Member has failed to comply with the duties and responsibilities set out in this Network Agreement, it shall promptly notify the Participating Institution(sNetwork Member(s) of the particulars. The Participating Institution Network Member shall have thirty (30) days within which to remedy the failure, failing which otherwise the Participating Institution Network Member may be deemed to have withdrawn from this Network Agreement.