Mandatory Withdrawal. 6.2.1 A Member may be required to withdraw from the Company with respect to a Series on a date specified by the Company to such Member if: (a) the Manager determines, in its reasonable discretion, that the continued membership of the Member in such Series would constitute or give rise to a violation of applicable law or would otherwise cause a material adverse effect on the Company, the relevant Series or the Manager, or their respective affiliates, members or other equity holders, (b) the Manager determines that a Member’s continued participation in a Series may cause the Company or such Series to be treated as a “publicly traded partnership” taxable as a corporation for U.S. federal income tax purposes, or
Appears in 6 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
