RIGHTS AND OBLIGATIONS OF FORMER MEMBERS. A Member who Assigns all of his, her, or its Membership Interest shall cease to be a Member; provided, however, that such former Member or any Successor shall remain liable to the LLC (a) for any obligations of such Member for wrongful distributions under Section 18-607 of the Act, and (b) pursuant to any contribution agreements with the LLC existing at the time of the Assignment of all such Membership Interest.
Appears in 6 contracts
Samples: Operating Agreement (O Charleys Inc), Limited Liability Company Agreement (O Charleys Inc), Operating Agreement (O Charleys Inc)
