Common use of Termination of Membership Interest Clause in Contracts

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. On 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 LLC’s dissolutiondissolution of the Company, or a Member’s withdrawal in accordance with Section 4.3 above, a Member’s the Membership Interest shall of a Member will be terminated by the Manager Members or such Membership Interest will be purchased by the LLC Company or remaining Members as provided hereinin this Agreement. Each Member acknowledges and agrees that such termination or purchase of a Membership Interest on upon the occurrence of any of the foregoing events is not unreasonable under the circumstances existing as of the date hereofof this Agreement.