Resignation and Removal of Members. Subject to Section 8.05, if a Member (other than the Managing Member) ceases to hold any Units then such Member shall cease to be a Member and to have the power to exercise any rights or powers of a member of the Company, and shall be deemed to have resigned from the Company.
Appears in 8 contracts
Samples: Business Combination Agreement (Spree Acquisition Corp. 1 LTD), Limited Liability Company Agreement (OPAL Fuels Inc.), Business Combination Agreement (ArcLight Clean Transition Corp. II)
Resignation and Removal of Members. Subject to Section 8.058.07, if a Member (other than the Managing Member) ceases to hold any Units, including as a result of a forfeiture of Units pursuant to Section 8.02, then such Member shall cease to be a Member and to have the power to exercise any rights or powers of a member of the Company, and shall be deemed to have resigned from the Company.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (Alight Group, Inc.), Limited Liability Company Agreement (Blackstone Holdings III L.P.), Limited Liability Company Agreement
Resignation and Removal of Members. Subject to Section 8.058.07, if a Member (other than the Managing Member) ceases to hold any Units, including as a result of a forfeiture of Units pursuant to Section 8.02, then such Member shall cease to be a Member and to have the power to exercise any rights or powers of a member of the Company, and shall be deemed to have resigned from the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Medley LLC), Limited Liability Company Agreement (Medley Management Inc.)
Resignation and Removal of Members. Subject to Section 8.059.6, if a Member (other than the Managing MemberBakkt Pubco) ceases to hold any Common Units then such Member shall cease to be a Member and to have the power to exercise any rights or powers of a member of the Company, and shall be deemed to have resigned from the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Bakkt Holdings, Inc.), Merger Agreement (VPC Impact Acquisition Holdings)
Resignation and Removal of Members. Subject to Section 8.058.07, if a Member (other than the Managing Member) ceases to hold any Units Units, then such Member shall cease to be a Member and to have the power to exercise any rights or powers of a member of the Company, and shall be deemed to have resigned from the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Fathom Digital Manufacturing), Business Combination Agreement (Altimar Acquisition Corp. II)
Resignation and Removal of Members. Subject to Section 8.05, if a Member (other than the Managing MemberPubCo) ceases to hold any Units Units, then such Member shall cease to be a Member and to have the power to exercise any rights or powers of a member of the Company, and shall be deemed to have resigned from the Company.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Highland Transcend Partners I Corp.)
Resignation and Removal of Members. Subject to Section 8.058.06, if a Member (other than the Managing Member) ceases to hold any Units then such Member shall cease to be a Member and to have the power to exercise any rights or powers of a member of the Company, and shall be deemed to have resigned from the Company.
Appears in 1 contract
Resignation and Removal of Members. Subject to Section 8.05, if a Member (other than the Managing Member) ceases to hold any Units Units, then such Member shall cease to be a Member and to have the power to exercise any rights or powers of a member of the Company, and shall be deemed to have resigned from the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Highland Transcend Partners I Corp.)
