Common use of Withdrawal; Resignation Clause in Contracts

Withdrawal; Resignation. Except as otherwise provided in this Agreement, no Member shall demand or receive a return on or of its Capital Contributions or withdraw or resign as a Member from the Company without the affirmative written consent of the Managing Member and all of the Class A Limited Members. If any Member resigns or withdraws from the Company in breach of this Section 6.4, such resigning or withdrawing Member shall not be entitled to receive any distribution under this Agreement. Under circumstances requiring a return of any Capital Contribution, no Member has the right to receive Property other than cash except as may be specifically provided herein.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (At&t Inc.), Limited Liability Company Agreement (At&t Inc.)

AutoNDA by SimpleDocs

Withdrawal; Resignation. Except as otherwise provided in this AgreementArticle VI and Article VII hereof, no Member shall demand or receive a return on or of its Capital Contributions or withdraw or resign as a Member from the Company without the affirmative written consent of the Managing Member and all of the Class A Limited Members. If Except as otherwise provided in the Act or this Agreement, upon resignation, any Member resigns or withdraws from the Company in breach of this Section 6.4, such resigning or withdrawing Member shall not be member is entitled to receive any only the distribution to which he is entitled under this Agreement, which shall be equal to the fair value of its Membership Interests in the Company as of the date of resignation. Under circumstances requiring a return of any Capital ContributionContributions, no Member has the right to receive Property other than cash except as may be specifically provided herein.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Western Wind Energy Corp)

Withdrawal; Resignation. Except as otherwise provided in this AgreementSections 5 and 12, no Member shall demand or receive a return on or of its Capital Contributions or withdraw or resign as a Member from the Company without the affirmative written consent approval of the Managing Member and all of the Class A Limited MembersExecutive Committee. If any Member resigns or withdraws from the Company in breach of this Section 6.48.5, such resigning or withdrawing Member shall not be entitled to receive any distribution under this Agreement. Under circumstances requiring a return of any Capital Contribution, no Member has the right to receive Property any Company asset other than cash cash, except as may be specifically provided hereinin this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Vistancia Marketing, LLC)

Withdrawal; Resignation. Except as otherwise provided in this AgreementArticles IV and XII hereof, no Member shall demand or receive a return on or of its Capital Contributions or withdraw or resign as a Member from the Company without the affirmative written consent of the Managing Member and all of the Class A Limited Members. If Except as otherwise provided in the Act or this Agreement, upon resignation, any resigning Member resigns or withdraws from the Company in breach of this Section 6.4, such resigning or withdrawing Member shall not be is entitled to receive any only the distribution to which the Member is entitled under this Agreement, which shall be equal to the fair value of the Member’s Units in the Company as of the date of resignation. Under circumstances requiring a return of any Capital ContributionContributions, no Member has the right to receive Property other than cash except as may be specifically provided hereinherein and in any agreement pertaining to the contribution of such Property, including but not limited to the License Agreement.

Appears in 1 contract

Samples: Operating Agreement

Withdrawal; Resignation. Except as otherwise provided in this AgreementSection 4 (including, but not limited to, Section 4.3(a)), Section 11, or Section 12 hereof, no Member shall demand or receive a return on or of its Capital Contributions or withdraw or resign as a Member from the Company without the affirmative written consent of the Managing Member and all of the Class A Limited Members. If Except as otherwise provided in the Act or this Agreement, upon resignation, any resigning Member resigns is entitled to receive only the distribution to which he or withdraws from the Company in breach of she is entitled under this Section 6.4Agreement, such resigning or withdrawing Member and shall not be entitled to receive any distribution under this Agreementthe fair value of its Membership Interest in the Company as of the date of resignation. Under circumstances requiring a return of any Capital ContributionContributions, no Member has the right to receive Property other than cash except as may be specifically provided herein.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Bunge LTD)

Withdrawal; Resignation. Except as otherwise provided in this AgreementSections 5 and 15 hereof, no Member shall demand or receive a return on or of its Capital Contributions or withdraw or resign as a Member from the Company without the affirmative written consent of the Managing Member and all of the Class A Limited Members. If Except as otherwise provided in the Act or this Agreement, upon resignation, any Member resigns or withdraws from the Company in breach of this Section 6.4, such resigning or withdrawing Member shall not be member is entitled to receive any only the distribution to which he is entitled under this Agreement, which shall be equal to the fair market value of his Units in the Company as of the date of resignation. Under circumstances requiring a return of any Capital ContributionContributions, no Member has the right to receive Property other than cash except as may be specifically provided herein.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Alliance Pharmaceutical Corp)

AutoNDA by SimpleDocs

Withdrawal; Resignation. Except as otherwise provided in this Agreementherein, no Member shall demand or receive a return on or of its Capital Contributions capital contributions or withdraw or resign as a Member from the Company without the affirmative written consent of the Managing Member and all of the Class A Limited Members. If any Member resigns or withdraws from the Company in breach of this Section 6.47.4, such resigning or withdrawing Member shall not be entitled to receive any distribution under this Agreement. Under circumstances requiring a return of any Capital Contributioncapital contributions, no Member has the right to receive Property property other than cash except as may be specifically provided herein.

Appears in 1 contract

Samples: Operating Agreement (Rock Tenn Co)

Withdrawal; Resignation. Except as otherwise provided in this AgreementSections 4, 5.2(k), 10 and 12 hereof, no Member shall demand or receive a return on or of its Capital Contributions or withdraw or resign as a Member from the Company without the affirmative written consent of the Managing Member and all of the Class A Limited Members. If any Member resigns or withdraws from the Company in breach of this Section 6.46.6, such resigning or withdrawing Member shall not be entitled to receive any distribution under this Agreement. Under circumstances requiring a return of any Capital ContributionContributions, no Member has the right to receive Property other than cash except as may be specifically provided herein.

Appears in 1 contract

Samples: Contribution Agreement (Pepco Holdings Inc)

Withdrawal; Resignation. Except as otherwise provided in this AgreementSections 4, 10 and 12. hereof, no Member shall demand or receive a return on or of its Capital Contributions or withdraw or resign as a Member from the Company without the affirmative written consent of the Managing Member and all of the Class A Limited Members. If any Member resigns or withdraws from the Company in breach of this Section 6.46.6, such resigning or withdrawing Member shall not be entitled to receive any distribution under this Agreement. Under circumstances requiring a return of any Capital ContributionContributions, no Member has the right to receive Property other than cash except as may be specifically provided herein.. 6.7

Appears in 1 contract

Samples: Operating Agreement (Pepco Holdings Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.