Termination of Membership Interest. Upon the transfer of an Investor Unit in violation of this Agreement or the occurrence of a Dissolution Event as to such Member which does not result in the dissolution of the Company, the Membership Interest of a Member shall be converted into an Economic Interest or purchased by the Company as provided herein.
Termination of Membership Interest. Upon the transfer of a Member's Membership Interest in violation of ARTICLE VII, the Membership Interest of such Member shall be terminated and thereafter that Member shall be an Assignee only unless such Membership Interest shall be purchased by the Company and/or remaining Members pursuant to the terms of SECTION 7.8. Each Member acknowledges and agrees that such termination or purchase of a Membership Interest upon the occurrence of any of the foregoing events is not unreasonable under the circumstances existing as of the date hereof.
Termination of Membership Interest. Upon the transfer of a Member’s Membership Interest in violation of this Agreement, the occurrence of a Dissolution Event as to such Member which does not result in the dissolution of the Company or the withdrawal of a Member in accordance with Section 4.3, the Membership Interest of a Member shall be terminated by the Managers or such Membership Interest shall be purchased by the Company or remaining Members as provided herein. Each Member acknowledges and agrees that such termination or purchase of a Membership Interest upon the occurrence of any of the foregoing events is not unreasonable under the circumstances existing as of the date hereof.
Termination of Membership Interest. Upon the transfer of a Member's Membership Interest in violation of this Agreement or the occurrence of a Dissolution Event as to such Member that does not result in the dissolution of the LLC, the CEO shall terminate the Membership Interest of a Member.
Termination of Membership Interest. On the transfer of a Member’s Membership Interest in violation of this Agreement, the occurrence of a Dissolution Event as to such Member which does not result in the LLC’s dissolution, or a Member’s withdrawal in accordance with Section 4.3 above, a Member’s Membership Interest shall be terminated by the Manager or purchased by the LLC or remaining Members as provided herein. Each Member acknowledges and agrees that such termination or purchase of a Membership Interest on the occurrence of any of the foregoing events is not unreasonable under the circumstances existing as of the date hereof.
Termination of Membership Interest. Upon the transfer of a Member’s Membership Interest in violation of this Agreement or the occurrence of a Dissolution Event as to such Member which does not result in the dissolution of the Company, the Membership Interest of a Member may be purchased by the Company or Remaining Members as provided herein. Each Member acknowledges and agrees that such purchase of a Membership Interest upon the occurrence of any of the foregoing events is not unreasonable under the circumstances existing as of the date hereof.
Termination of Membership Interest. 7 4.5 Transactions With The Company.....................................7 4.6
Termination of Membership Interest. Upon the transfer of a Member's Membership Interest in violation of this Agreement or the occurrence of a Disassociation Event, the Membership Interest of a Member will be terminated by the Management Committee and such Membership Interest will be purchased by the Company or remaining Members as provided in Article 10. Each Member acknowledges and agrees that such termination or purchase of a Membership Interest upon the occurrence of any of the foregoing events is not unreasonable. The rights of the Company and the non-breaching Members under this Section will be in addition to, and not in limitation of, any other rights and remedies which the Company and such other Members may have at law or equity.
Termination of Membership Interest. Upon the transfer of a Member's Membership Interest in violation of Article VI or the occurrence of a Dissolution Event as to such Member which does not result in the dissolution of the Company under Article VIII, the Membership Interest of a Member shall be terminated by the Management Committee and thereafter that Member shall be entitled only to the amounts set forth in Section 8.03. Each Member acknowledges and agrees that such termination or purchase of a Membership Interest upon the occurrence of any of the foregoing events is not unreasonable under the circumstances existing as of the date hereof.
Termination of Membership Interest. Upon (i) the transfer of a Member’s Membership Interest in violation of this Agreement, (ii) the occurrence of a Disposition Event as to such Member that does not result in the dissolution of the Company or (iii) the withdrawal or resignation of a Member in accordance with Section 5.3, the Membership Interest of that Member shall be terminated and thereafter that Member only shall be an Economic Interest Owner, unless such Membership Interest is purchased by the Company and/or one or more of the Remaining Members as provided in Section 10. Each Member acknowledges and agrees that such termination or purchase of a Membership Interest upon the occurrence of any of the foregoing events is not unreasonable under the circumstances existing as of the date hereof.
