Withdrawal Prohibited. No Member may withdraw or resign from the Company until there has been a dissolution and a full and complete winding up of the Company in accordance with this Agreement and the Act. If such Member is permitted to withdraw pursuant to the provisions of the Act, notwithstanding the foregoing, such Member shall be treated as an Economic Interest Holder which has not been admitted as a Member of the Company.
Appears in 2 contracts
Samples: Operating Agreement (Venture Lending & Leasing VII, LLC), Operating Agreement (Venture Lending & Leasing VII, LLC)
Withdrawal Prohibited. No Member may withdraw or resign from the Company until there has been a dissolution and a full and complete winding up of the Company in accordance with this Agreement and the Act. If such Member is permitted to withdraw pursuant to the provisions of the Act, notwithstanding the foregoing, such Member shall be treated as an Economic Interest Holder which has not been admitted as a Member of the Company.. SCHEDULE 1—Definitions
Appears in 1 contract
Samples: Operating Agreement (Venture Lending & Leasing IX, LLC)
Withdrawal Prohibited. No Member may withdraw or resign from the Company until there has been a dissolution and a full and complete winding up of the Company in accordance with this Agreement and the Actrelevant laws. If such Member is permitted to withdraw pursuant to the provisions of the Actof, notwithstanding the foregoing, such Member shall be treated as an Economic Interest Holder which has not been admitted as a Member of the Company.
Appears in 1 contract
Samples: Operating Agreement
