Common use of Withdrawal of a Member Clause in Contracts

Withdrawal of a Member. A Member may withdraw or resign from the Company at any time. A Member who dies, withdraws or resigns as a Member will not be entitled to have his/her/its unit redeemed and shall forfeit to the Company his/her/its capital account.

Withdrawal of a Member. A Member may withdraw or resign from the Company at any time. A Member who dies, withdraws or resigns as a Member will not be entitled to have his/her/its unit Units redeemed and shall forfeit to the Company his/her/its capital account. Such Member’s Units will be canceled, and the Member shall have no further rights as a Member of the Company.