Termination of an Interest Sample Clauses

Termination of an Interest. A Member’s Interest shall be automatically terminated on the occurrence of any Terminating Event or Adverse Terminating Event; provided, however, that in the case of an Adverse Terminating Event that is the result of an Involuntary Transfer described in Section 9.4, the Member’s Interest shall be terminated only with respect to such Involuntarily Transferred Interest. Upon the occurrence of any Terminating Event or Adverse Terminating Event, the Governance Rights of the Member whose Interest is being terminated shall be extinguished, and the rights of such former Member or such former Member’s Successor shall automatically be converted solely to an Economic Interest which will be liquidated pursuant to Section 9.3. Upon the occurrence of any Terminating Event or Adverse Terminating Event respecting any Interest described in this Section 9.1, the Company shall cause Exhibit A hereto to be amended appropriately.
Sample 1
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Termination of an Interest. The General Partner shall be entitled to cause ASAC to redeem or sell the Interest of any Limited Partner upon at least five calendar days’ prior written notice if (a) there is a material breach of such Limited Partner’s representations, warranties or covenants herein or in such Limited Partner’s Subscription Agreement and, following written notice of such breach provided by the General Partner, such breach, if capable of being cured, is not cured within 15 calendar days after such Limited Partner’s receipt of such written notice, or (b) such Limited Partner causes or suffers a Transfer of all or a portion of its Interest in violation of this Agreement and such Transfer is not capable of being voided as provided in Section 9.1. If any Partner’s Interest is redeemed or sold pursuant to this Section 9.5, such Partner shall be paid on the earlier to occur of (i) 120 calendar days after the date of the notice of termination if the Interest is redeemed, or (ii) on the closing date if the Interest is sold, the fair market value of such Limited Partner’s Interest, as determined by the General Partner. Any Person purchasing a Limited Partner’s Interest pursuant to this Section 9.5 shall become a Substitute Partner in accordance with and subject to Section 9.3. Upon redemption of any Limited Partner’s Interest pursuant to this Section 9.5, such Limited Partner and the Percentage Interest and Capital Contributions of such Limited Partner shall not be included in determining the Partners, or the Percentage Interests or Capital Contributions of the Partners, for any purpose hereunder.
Sample 1
Termination of an Interest. Period on a non-Business Day. For computation of the duration of an Interest Period, if the last day of the Interest Period is not a Business Day, the Interest Period shall expire on the first Business Day immediately following, unless such Business Day falls in another month, in which event the Interest Period shall expire on the immediately prior Business Day.
Sample 1

Related to Termination of an Interest

  • Termination or Non Renewal A notice of termination of this Agreement has been properly provided by any Party to the other Parties pursuant to Article 11 (TERM AND TERMINATION) hereof (other than termination pursuant to Sections 11.2(b) (Material Breach by Replidyne), 11.2(d) (Bankruptcy Event for Replidyne), or 11.2(h) (Abandonment of Development or Commercialization ), or termination of the License Agreement due to the material breach or bankruptcy event of Replidyne), or the expiration of this Agreement due to Nisso declining after reasonable negotiation to extend the Term of this Agreement for the next Renewal Term.

  • Termination of Membership The membership of a Member in the Company shall terminate upon the occurrence of events described in the Act, including registration and withdrawal. If for any reason the membership of a Member is terminated, the Member whose membership has terminated loses all Membership Voting Interests and shall be considered merely as Assignee of the Membership Economic Interest owned before the termination of membership, having only the rights of an unadmitted Assignee provided for in Section 9.7 hereof.

  • Termination of a Subcustodian The Custodian may, at any time in its discretion upon notification to the appropriate Fund(s), terminate any Subcustodian of such Fund(s) in accordance with the termination provisions under the applicable subcustodian agreement, and upon the receipt of Special Instructions, the Custodian will terminate any Subcustodian in accordance with the termination provisions under the applicable subcustodian agreement.

  • Effect of Bankruptcy, Death, Incompetence or Termination of a Limited Partner The occurrence of an Event of Bankruptcy as to a Limited Partner, the death of a Limited Partner or a final adjudication that a Limited Partner is incompetent (which term shall include, but not be limited to, insanity) shall not cause the termination or dissolution of the Partnership, and the business of the Partnership shall continue if an order for relief in a bankruptcy proceeding is entered against a Limited Partner, the trustee or receiver of his estate or, if he dies, his executor, administrator or trustee, or, if he is finally adjudicated incompetent, his committee, guardian or conservator, shall have the rights of such Limited Partner for the purpose of settling or managing his estate property and such power as the bankrupt, deceased or incompetent Limited Partner possessed to assign all or any part of his Partnership Interest and to join with the assignee in satisfying conditions precedent to the admission of the assignee as a Substitute Limited Partner.

  • Termination of Continuous Service Except as otherwise provided in this Section 3, the unvested portion of the award shall be forfeited as of the date (the “Termination Date”) that the Grantee actually ceases to provide services to the Company or any Affiliate in any capacity of Employee, Director or Consultant (irrespective of whether the Grantee continues to receive severance or any other continuation payments or benefits after such date) (such cessation of the provision of services by Grantee being referred to as “Service Termination”). A Service Termination shall not occur and Continuous Service shall not be considered interrupted in the case of (i) any approved leave of absence, (ii) transfers among the Company, any Subsidiary or Affiliate, or any successor, in any capacity of Employee, Director or Consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Subsidiary or Affiliate in any capacity of Employee, Director or Consultant.

  • Termination of Multiple REMICs If the REMIC Administrator makes two or more separate REMIC elections, the applicable REMIC shall be terminated on the earlier of the Final Distribution Date and the date on which it is deemed to receive the last deemed distributions on the related Uncertificated REMIC Regular Interests and the last distribution due on the Certificates is made.

  • Termination of Contract This contract will terminate when all the following have occurred:

  • Termination or Abandonment Notwithstanding anything contained in this Agreement to the contrary, this Agreement may be terminated and abandoned at any time prior to the Effective Time, whether before or after any approval of the matters presented in connection with the Merger by the stockholders of the Company:

  • Termination of Agreement If this Agreement is terminated by the Representatives in accordance with the provisions of Section 5 or Section 9(a)(i) hereof, the Company shall reimburse the Underwriters for all of their out-of-pocket expenses, including the reasonable fees and disbursements of counsel for the Underwriters.

  • Consequences of Expiration or Termination All of the following effects of expiration or termination, as applicable, are in addition to the other rights and remedies that may be available to the Parties at law or in equity.

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