Release of Sellers. Effective upon the Closing and the delivery by Purchaser of the Class B Joinder to the Secretary of the Company, pursuant to the terms of the LLC Agreement, each Seller shall no longer be a member of the Company in accordance with Section 18-702(b)(3) of the Delaware Act and shall have no further duty, liability, or obligation under the LLC Agreement and the Class B Preferred Membership Interest Certificate.
Appears in 4 contracts
Samples: Form of Purchase Agreement (Txu Corp /Tx/), Purchase Agreement (Txu Corp /Tx/), Purchase Agreement (Txu Corp /Tx/)
