Resignation; Dissolution. (a) Member may not withdraw or resign from the Company, except (i) in connection with the Disposition by Initial Member of its entire Company Interest as contemplated in the recitals, (ii) in connection with a Permitted Disposition made in accordance with the applicable provisions of this Article VIII or (iii) with the prior written consent of the Participant. (b) Member covenants that it shall not allow a Dissolution Event to occur with respect to itself. (c) Section 18-304 of the Act shall not apply to the Company. Nothing in this Section 8.7(c) shall limit the terms of Section 9.1 hereof. (d) Except as is otherwise expressly provided in this Agreement, Member shall not be entitled to receive any payment pursuant to Section 18-604 of the Act.
Appears in 3 contracts
Samples: Operating Agreement, Operating Agreement, Limited Liability Company Operating Agreement
Resignation; Dissolution. (a) Member may not withdraw or resign from the Company, except (i) in connection with the Disposition by Initial Member of its entire Company Interest as contemplated in the recitalsRecitals, (ii) in connection with a Permitted Disposition made in accordance with the applicable provisions of this Article VIII or (iii) with the prior written consent of the Participant.
(b) Member covenants that it shall not allow a Dissolution Event to occur with respect to itself.
(c) Section 18-304 of the Act shall not apply to the Company. Nothing in this Section 8.7(c) shall limit the terms of Section 9.1 hereof.
(d) Except as is otherwise expressly provided in this Agreement, Member shall not be entitled to receive any payment pursuant to Section 18-604 of the Act.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Resignation; Dissolution. (a) The Member may not withdraw or resign from the Company, except (i) in connection with the Disposition by the Initial Member of its entire Company Interest as contemplated in the recitals, (ii) in connection with a Permitted Disposition made in accordance with the applicable provisions of this Article VIII or (iii) with the prior written consent of the Participant.
(b) The Member covenants that it shall not allow a Dissolution Event to occur with respect to itself.
(c) Section 18-304 of the Act shall not apply to the Company. Nothing in this Section 8.7(c8.07(c) shall limit the terms of Section 9.1 9.01 hereof.
(d) Except as is otherwise expressly provided in this Agreement, the Member shall not be entitled to receive any payment pursuant to Section 18-604 of the Act.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
