Common use of Upon Dissociation Clause in Contracts

Upon Dissociation. Dissociation from the Company occurs upon a Member’s expulsion, transfer or redemption of all of the Member’s Membership Interests, withdrawal or resignation (an “Event of Dissociation”). Upon the occurrence of an Event of Dissociation: (1) the Member's right to participate in the Company's governance, receive information concerning the Company's affairs and inspect the Company's books and records will terminate; and (2) unless the Dissociation resulted from the Transfer of the Member's Membership Interests, the Member will be entitled to receive the Distributions to which the Member would have been entitled as of the effective date of the Dissociation had the Dissociation not occurred. The Member will remain liable for any obligation to the Company that existed prior to the effective date of the Dissociation, including any costs or damages resulting from the Member's breach of this Agreement. Under most circumstances, the Member will have no right to any return of his or her capital prior to the termination of the Company unless the Manager elects to return capital to a Member. The effect of such Dissociation on the remaining Members who do not sell will be to increase their percentage share of the remaining assets of the Company, and thus their proportionate share of its future earnings, losses and Distributions. The reduction in the outstanding Membership Interests will also increase the relative voting power of remaining Members.

Upon Dissociation. Dissociation from the Company and or a Series occurs upon a Member’s expulsion, transfer Transfer, or redemption of all of the Member’s Membership Interests, withdrawal or resignation Interests (an “Event of Dissociation”). Upon the occurrence of an Event of Dissociation: (1) the Member's ’s right to participate in the Company's governance, receive information concerning the Company's affairs ’s and Series’ affairs, and inspect the Company's ’s and Series’ books and records will terminate; and (2) unless the Dissociation resulted from the Transfer of the Member's ’s Membership Interests, the Member will be entitled to receive the Distributions to which the Member would have been entitled to as of the effective date of the Dissociation Dissociation, had the Dissociation not occurredoccurred until the Member has fully redeemed its Membership Interests in accordance with the terms herein. The Member will remain liable for any obligation to the Series and/or Company that existed prior to the effective date of the Dissociation, including any costs or damages resulting from the Member's ’s breach of this Agreement. Under most circumstances, the Member will have no right to any return of his or her its capital prior to the termination of the Company Series and/or the Company, unless the Manager elects to return capital to a Member. The effect of such Dissociation on the remaining Members who do not sell will be to an increase of their percentage share of the remaining assets of the Series and/or the Company, and thus their proportionate share of its future earnings, losses losses, and Distributions. The reduction in the outstanding Membership Interests will also increase the relative voting power of remaining MembersMembers of the Series.

Upon Dissociation. Dissociation from the Company occurs upon a Member’s expulsion, transfer or redemption of all of the Member’s Membership Interests, withdrawal or resignation (an “Event of Dissociation”). Upon the occurrence of an Event of Dissociation: (1) the Member's ’s right to participate in the Company's ’s governance, receive information concerning the Company's ’s affairs and inspect the Company's ’s books and records will terminate; and (2) unless the Dissociation resulted from the Transfer of the Member's ’s Membership Interests, the Member will be entitled to receive the Distributions to which the Member would have been entitled as of the effective date of the Dissociation had the Dissociation not occurred. The Member will remain liable for any obligation to the Company that existed prior to the effective date of the Dissociation, including any costs or damages resulting from the Member's ’s breach of this Agreement. Under most circumstances, the Member will have no right to any return of his or her capital prior to the termination of the Company unless the Manager elects to return capital to a Member. The effect of such Dissociation on the remaining Members who do not sell will be to increase their percentage share of the remaining assets of the Company, and thus their proportionate share of its future earnings, losses and Distributions. The reduction in the outstanding Membership Interests will also increase the relative voting power of remaining Members.