Removal or Resignation of Members. A Member may not (a) be removed as a Member of the Company without such Member’s prior written consent or (b) resign from the Company without the consent of the Board of Managers, unless otherwise provided in this Agreement. In accordance with Section 18-702 of the Act, a Member ceases to be a Member upon assignment (in accordance with the terms of this Agreement and the Act) of all of such Member’s Membership Interests to third Persons.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement (Gmac LLC), Limited Liability Company Operating Agreement (Gmac LLC)
Removal or Resignation of Members. A Member may not (a) be removed as a Member of the Company without such Member’s prior written consent or (b) resign from the Company without the written consent of the Board of ManagersJoint Majority Holders, unless otherwise provided in this Agreement. In accordance with Section 18-702 of the Act, a Member ceases to be a Member upon assignment (in accordance with the terms of this Agreement and the Act) of all of such Member’s Membership Interests to third Persons.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement (Gmac LLC), Limited Liability Company Operating Agreement
Removal or Resignation of Members. (a) A Member may not (a) be removed as a Member of the Company LLP without such Member’s prior written consent or (b) resign from the Company LLP without the written consent of the Board of Managers, unless otherwise provided in this Agreement. In accordance with Section 18-702 of the Act, .
(b) A Member who holds a Class D Membership Interest but no other Membership Interest shall be deemed to have retired as a Member ceases immediately on him ceasing to be a Member upon assignment (in accordance with the terms of this Agreement and the Act) of all of such Member’s Membership Interests to third PersonsManager.
Appears in 2 contracts
Samples: Limited Liability Partnership Agreement, Limited Liability Partnership Agreement (Delphi Automotive PLC)
Removal or Resignation of Members. A Member may not (a) be removed as a Member of the Company without such Member’s prior written consent or (b) resign from the Company without the consent of the Board of Managers, unless otherwise provided in this Agreement. In accordance with Section 18-702 of the Act, a Member ceases to be a Member upon assignment (in accordance with the terms of this Agreement and the Act) of all of such Member’s Membership Interests to third Persons.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Gmac LLC)
Removal or Resignation of Members. A Member may not (a) be removed as a Member of the Company LLP without such Member’s prior written consent or (b) resign from the Company LLP without the written consent of the Board of ManagersManaging Member, unless otherwise provided in this Agreement. In accordance with Section 18-702 of the Act, a Member ceases to be a Member upon assignment (in accordance with the terms of this Agreement and the Act) of all of such Member’s Membership Interests to third Persons.
Appears in 1 contract
Samples: Limited Liability Partnership Agreement (Delphi Trade Management, LLC)
