Common use of Withdrawal of Members Clause in Contracts

Withdrawal of Members. No Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s Units in accordance with the terms of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s).

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Walgreens Boots Alliance, Inc.), Limited Liability Company Agreement (Walgreens Boots Alliance, Inc.), Limited Liability Company Agreement (Walgreens Boots Alliance, Inc.)

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Withdrawal of Members. No Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer transfer of all of such Member’s Units in accordance with the terms of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s).

Appears in 2 contracts

Samples: Transaction Agreement (Nord Anglia Education, Inc.), Transaction Agreement (Nord Anglia Education, Inc.)

Withdrawal of Members. No A Member shall have the right to may not withdraw from the Company, except in upon (i) the case dissolution of an Involuntary Withdrawal or Transfer of all of such Member’s Units the Company pursuant to and in accordance with Section 11.01 or (ii) the terms of this Agreement. Immediately upon Transfer to another Person (including the occurrence of an Involuntary Withdrawal, the successor(sCompany) of all, but not less than all, of the Membership Interest owned by such Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s(the “Withdrawing Member”).

Appears in 2 contracts

Samples: Implementation Agreement (Arch Coal Inc), Implementation Agreement (Peabody Energy Corp)

Withdrawal of Members. No Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s 's Units in accordance with the terms of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s).

Appears in 1 contract

Samples: Limited Liability Company Agreement

Withdrawal of Members. No If a Member has Transferred all of its Membership Units in one (1) or more Transfers permitted hereunder, then such Member shall have withdraw from the right Company, and thereby cease to be a Member and no longer be entitled to exercise any rights or powers of a Member under this Agreement, on the date upon which each Transferee of such Membership Units has been admitted as a Member hereunder. Except as otherwise provided by the foregoing, no Member shall be entitled to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s Units in accordance with the terms of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s).

Appears in 1 contract

Samples: Operating Agreement (Globe Specialty Metals Inc)

Withdrawal of Members. No Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s Units in accordance with the terms of this AgreementWithdrawal. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s).

Appears in 1 contract

Samples: Operating Agreement (Dolan Media CO)

Withdrawal of Members. No Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s Units in accordance with the terms of this AgreementWithdrawal. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s). No Member shall have the right to receive the return of any capital contribution in connection with an Involuntary Withdrawal.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Dolan Media CO)

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Withdrawal of Members. No (a) If a Member has Transferred all of its Membership Interests in one or more Transfers, then such Member shall withdraw from the Company on the date upon which each assignee of such Membership Interests has been admitted as a Substitute Member in accordance with Section 6.6 hereof, and such Member shall no longer be entitled to exercise any rights or powers of a Member under this Agreement. (b) In addition to a withdrawal pursuant to Section 6.8(a), each Member shall have the right to withdraw from the CompanyCompany at any time, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s Units in accordance with the terms of this Agreement. Immediately but only upon the occurrence of an Involuntary Withdrawal, the successor(s) unanimous consent of the Members. A withdrawing Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s)have no right to a return of its capital contributions.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Paramount Acquisition Corp)

Withdrawal of Members. No A Member shall be deemed to have withdrawn from the Company upon (a) such Member’s Technical Withdrawal, (b) the redemption in accordance with the terms hereof, of all of the Member Interests held by such Member or (c) the permitted Transfer by a Member of all of its Membership Interests. Except as set forth in this Section 13.5, no Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s Units in accordance with the terms of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s).

Appears in 1 contract

Samples: Master Agreement for the Formation of a Limited Liability Company (Jefferies Group Inc /De/)

Withdrawal of Members. No Member shall have the right be permitted to --------------------- withdraw from the Company other than as a consequence of the Company, except in the case of an Involuntary Withdrawal or Transfer 's repurchase of all of the Units of such Member’s Units in accordance with Member or the terms Transfer by such Member of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) all of the Units held by such Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s)and the admission of the transferee as a Substitute Member.

Appears in 1 contract

Samples: Operating Agreement (Greenmountain Com Co)

Withdrawal of Members. No A Member shall be deemed to have withdrawn from the Company upon (a) such Member's Technical Withdrawal, (b) the redemption in accordance with the terms hereof, of all of the Member Interests held by such Member or (c) the permitted Transfer by a Member of all of its Membership Interests. Except as set forth in this Section 13.5, no Member shall have the right to withdraw from the Company, except in the case of an Involuntary Withdrawal or Transfer of all of such Member’s Units in accordance with the terms of this Agreement. Immediately upon the occurrence of an Involuntary Withdrawal, the successor(s) of the Member so withdrawing shall thereupon become Economic Owner(s) but shall not become Member(s).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Leucadia National Corp)

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