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 this Agreement or the occurrence of a Withdrawal Dissolution Event as to such Member that does not result in the dissolution of the Company, the Membership Interest of a Member shall be terminated by the Managers designated by the other Members 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 Effective Date.

Termination of Membership Interest. Upon the transfer of a Member's Membership Interest in violation of this Agreement or the occurrence of a Withdrawal Dissolution Event as to such Member that does not result in the dissolution of the Company, the Membership Interest of a Member shall be terminated by the Managers designated by the other Members 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 Effective Datedate hereof.

Termination of Membership Interest. Upon the transfer of a Member's ’s Membership Interest in violation of this Agreement or Agreement, the occurrence of a Withdrawal Dissolution Event as to such Member that which does not result in the dissolution of the CompanyCompany or the withdrawal of a Member in accordance with Section 4.3, the Membership Interest of a Member shall be terminated by the Managers designated by the other Members 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 Effective Datedate hereof.

Termination of Membership Interest. Upon the transfer of a Member's ’s Membership Interest in violation of this Agreement or the occurrence of a Withdrawal Dissolution Event as to such Member that does not result in the dissolution of the Company, the Membership Interest of a Member shall be terminated by the Managers designated by the other Members 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 Effective Datedate hereof.