No Right to Withdraw. Except as set forth in Article VII with respect to Transfers of Units, no Member shall have any right to resign or withdraw from the Company without the written consent of the other Members. Any Member resigning or withdrawing in contravention of this Section 3.09 shall indemnify, defend and hold harmless the Company and all other Members from and against any losses, expenses, judgments, fines, settlements or damages suffered or incurred by the Company or any such other Member arising out of or resulting from such resignation or withdrawal. No Member shall have any right to receive any distribution or the repayment of its Capital Contribution, except as provided in Article VI. For the avoidance of doubt, any Member wrongfully resigning or withdrawing from the Company shall automatically forfeit all rights to future distributions from the Company, other than with respect to any distributions which have been declared, but unpaid as of any such resignation or withdrawal.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Venture Global, Inc.), Limited Liability Company Agreement (Venture Global, Inc.), Limited Liability Company Agreement (Venture Global, Inc.)
No Right to Withdraw. Except as set forth in Article VII with respect to Transfers of Units, no Member shall have any right to resign or withdraw from the Company without the written consent of the other Members. Any Member resigning or withdrawing in contravention of this Section 3.09 3.07 shall indemnify, defend and hold harmless the Company and all other Members from and against any losses, expenses, judgments, fines, settlements or damages suffered or incurred by the Company or any such other Member arising out of or resulting from such resignation or withdrawal. No Member shall have any right to receive any distribution or the repayment of its Capital Contribution, except as provided in Article VI. For the avoidance of doubt, any Member wrongfully resigning or withdrawing from the Company shall automatically forfeit all rights to future distributions from the Company, other than with respect to any distributions which have been declared, but unpaid as of any such resignation or withdrawal.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Venture Global, Inc.), Limited Liability Company Agreement (Venture Global, Inc.), Limited Liability Company Agreement (Venture Global, Inc.)
