Common use of Termination of Membership Interest Clause in Contracts

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 any attempted Transfer of all or a portion of a Member's Membership Interest ’s Units in violation of ARTICLE Article VII, the all rights associated with such Member’s Membership Interest of Interest, other than such Member’s Economic Interest, held by such Member shall be terminated by the Board of Managers and thereafter that such Member shall be deemed an Assignee only unless such Membership Interest shall be purchased by the Company and/or remaining Members pursuant to the terms of SECTION 7.8only. Each Member acknowledges and agrees that such termination or purchase of a the Membership Interest Interests 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 ARTICLE Article VII, the Membership Interest of such a 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 7.8as provided in Article VIII. 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 the Membership Interest of the Class B Member or any Class C Member in violation of ARTICLE Article VII, the Membership Interest of such Member shall be terminated by the Manager 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 7.8only. Each Member acknowledges and agrees that such termination or purchase of a Membership Interest upon the occurrence of any of the foregoing events event 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 ARTICLE 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 Section 7.8. Such Member shall have no right to vote on any Company matters. 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 ARTICLE Article VII, the Membership Interest of such Member shall be terminated by the Controlling Member 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 7.8only. Each Member acknowledges and agrees that such termination or purchase of a Membership Interest upon the occurrence of any of the foregoing events event is not unreasonable under the circumstances existing as of the date hereof.

Termination of Membership Interest. Upon the transfer of a Member's ’s Membership Interest in violation of ARTICLE 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 Section 7.8. Such Member shall have no right to vote on any Company matters. 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 Transfer of a Member's ’s Membership Interest in violation of ARTICLE 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 7.8only. 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 (a) the transfer of a Member's Membership Interest in violation of ARTICLE VIIArticle 7 or (b) the withdrawal or resignation of a Member in accordance with Article 4.3, the Membership Interest of such a Member shall be terminated by the Managers 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 7.8only. Each Member acknowledges 10 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.