Common use of Involuntary Withdrawal Clause in Contracts

Involuntary Withdrawal. Immediately upon the occurrence of an involuntary Withdrawal (“Involuntary Withdrawal”), the successor of the Withdrawn Member shall thereupon become an Economic Interest holder, but shall not become a Member. If the Company is continued as provided in this Agreement, the successor Economic Interest holder shall have all the rights of an Economic Interest holder, provided however such Economic Interest holder shall not be entitled to require a liquidation of the Economic Interest. EXHIBIT 2 to Offering Circular/Opening Night Enterprises, LLC/Operating Agreement 34

Appears in 4 contracts

Samples: LLC Operating Agreement (Opening Night Enterprises, LLC), LLC Operating Agreement (Opening Night Enterprises, LLC), LLC Operating Agreement (Opening Night Enterprises, LLC)

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Involuntary Withdrawal. Immediately upon the occurrence of an involuntary Withdrawal (“Involuntary Withdrawal”), the successor of the Withdrawn Member shall thereupon become an Economic Interest holder, but shall not become a Member. If the Company is continued as provided in this Agreement, the successor Economic Interest holder shall have all the rights of an Economic Interest holder, provided however such Economic Interest holder shall not be entitled to require a liquidation of the Economic Interest. EXHIBIT 2 to Offering Circular/Opening Night Enterprises, LLC/Operating Agreement 34- 11/30/2017

Appears in 1 contract

Samples: LLC Operating Agreement (Opening Night Enterprises, LLC)

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Involuntary Withdrawal. Immediately upon the occurrence of an involuntary Withdrawal (“Involuntary Withdrawal”), the successor of the Withdrawn Member shall thereupon become an Economic Interest holder, but shall not become a Member. If the Company is continued as provided in this Agreement, the successor Economic Interest holder shall have all the rights of an Economic Interest holder, provided however such Economic Interest holder shall not be entitled to require a liquidation of the Economic Interest. EXHIBIT 2 to Offering Circular/Opening Night Enterprises, LLC/Operating Agreement 34Agreement

Appears in 1 contract

Samples: LLC Operating Agreement (Opening Night Enterprises, LLC)

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