Obligations Upon Withdrawal Clause Samples
Obligations Upon Withdrawal. A withdrawing Party or Participant shall remain liable for any and all of its obligations, financial or otherwise, existing on the date written notice is provided, to or on behalf of the Authority. Upon withdrawal, a withdrawing Party or Participant shall forfeit all interest, right or title in or to any assets or equity of the Authority, unless the Board approves a specific agreement to the contrary. Withdrawal by any Party or combination of Parties shall not cause termination of this Agreement as between the Parties not withdrawing.
Obligations Upon Withdrawal. A withdrawing Member Agency shall relinquish all System equipment which the Administration Board determines is necessary to maintain the System at an effective level of service that all remaining Member Agencies enjoyed prior to the withdrawal.