Withdrawals. Each of the Members does hereby covenant and agree that it will not withdraw, resign, retire or disassociate from the Company, except as a result of a Transfer of its entire Interest in the Company permitted under the terms of this Agreement and that it will carry out its duties and responsibilities hereunder until the Company is terminated, liquidated and dissolved under Section 13. No Member shall be entitled to receive any distribution or otherwise receive the fair market value of its Interest in compensation for any purported resignation or withdrawal not in accordance with the terms of this Agreement.
Appears in 28 contracts
Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
Withdrawals. Each of the Members does hereby covenant and agree that it will not withdraw, resign, retire or disassociate from the Company, except as a result of a Transfer of its entire Membership Interest in the Company permitted under the terms of this Agreement and that it will carry out its duties and responsibilities hereunder until the Company is terminated, liquidated and dissolved under Section 13Article 12. No Member shall be entitled to receive any distribution or otherwise receive the fair market value of its Membership Interest in compensation for any purported resignation or withdrawal not in accordance with the terms of this Agreement.
Appears in 11 contracts
Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
Withdrawals. Each of the Members does hereby covenant and agree that it will not withdraw, resign, retire or disassociate from the Company, except as a result of a Transfer of its entire Interest in the Company Company, or as otherwise permitted under the terms of this Agreement Agreement, and that it will carry out its duties and responsibilities hereunder until the Company is terminated, liquidated and dissolved under Section 13. No Except as otherwise provided in this Agreement, no Member shall be entitled to receive any distribution or otherwise receive the fair market value of its Interest in compensation for any purported resignation or withdrawal not in accordance with the terms of this Agreement.
Appears in 4 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
Withdrawals. Each of the The Members does do hereby covenant and agree that it will they shall not withdraw, resign, withdraw or retire or disassociate from the Company, Company except as a result of a permitted Transfer of its their entire Interest in the Company permitted under the terms of this Agreement respective Membership Interests and that it will they shall carry out its their duties and responsibilities hereunder until the Company is terminated, liquidated liquidated, and dissolved under Section 13. No Member shall be entitled to receive any distribution or otherwise receive the fair market value of its Interest in compensation for any purported resignation or withdrawal not in accordance with the terms of this AgreementArticle IX.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Columbia Equity Trust, Inc.), Limited Liability Company Agreement (Columbia Equity Trust, Inc.), Limited Liability Company Agreement (Columbia Equity Trust, Inc.)
Withdrawals. Each of the Members does hereby covenant and agree that it such Member will not withdraw, resign, withdraw or retire or disassociate from the Company, Company except as a the result of a Transfer permitted transfer of its such Member's entire Interest interest in the Company permitted under the terms of this Agreement pursuant to Section 16 hereof, and that it such Member will carry out its such Member's duties and responsibilities hereunder until the Company is terminated, liquidated and dissolved under Section 1323 hereof. No A withdrawing Member shall not be entitled to receive any distribution or otherwise receive amount from the fair market value of its Interest Company in compensation for any purported resignation or connection with such withdrawal not except to the extent specifically provided in accordance with the terms of this Agreement.
Appears in 2 contracts
Samples: Operating Agreement (Sunrise Assisted Living Inc), Operating Agreement (Sunrise Assisted Living Inc)
Withdrawals. Each of the Members does hereby covenant and agree that it will not withdraw, resign, retire or disassociate dissociate from the Company, except as a result of a Transfer of its entire Interest in the Company permitted under the terms of this Agreement Agreement, and that it will carry out its duties and responsibilities hereunder until the Company is terminated, liquidated and dissolved under Section 13. Article X. No Member shall be entitled to receive any distribution or otherwise receive the fair market value of its Interest in compensation for as a result of any purported resignation or withdrawal not in accordance with the terms of this Agreement.
Appears in 1 contract
Withdrawals. Each of the Members does hereby covenant and agree that it will not withdraw, resign, retire or disassociate dissociate from the Company, except as a result of a Transfer of its entire Membership Interest in the Company permitted under the terms of this Agreement Agreement, and that it will carry out its duties and responsibilities hereunder until the Company is terminated, liquidated and dissolved under Section 13. No Member shall be entitled to receive any distribution or otherwise receive the fair market value of its Membership Interest in compensation for as a result of any purported resignation or withdrawal not in accordance with the terms of this Agreement.
Appears in 1 contract
Samples: Operating and Member Control Agreement (Juhl Energy, Inc)
Withdrawals. Each of the Members does hereby covenant and agree that it will not withdraw, resign, retire or disassociate from the Company, except as a result of a Transfer of its entire Interest in the Company permitted under the terms of this Agreement and that it will carry out its duties and responsibilities hereunder until the Company is terminated, liquidated and dissolved under Section 1313 below. No Member shall be entitled to receive any distribution or otherwise receive the fair market value of its Interest in compensation for any purported resignation or withdrawal not in accordance with the terms of this Agreement.
Appears in 1 contract
Samples: Limited Liability Company/Joint Venture Agreement (Bluerock Residential Growth REIT, Inc.)
Withdrawals. Each of the Members does hereby covenant and agree that it will not withdraw, resign, retire or disassociate dissociate from the Company, except as a result of a Transfer of its entire Membership Interest in the Company permitted under the terms of this Agreement Agreement, and that it will carry out its duties and responsibilities hereunder until the Company is terminated, liquidated and dissolved under Section 13. No Member shall be entitled to receive any distribution or otherwise receive the fair market value of its Membership Interest in compensation for as a result of any purported resignation or withdrawal not in accordance with the terms of this Agreement.
Appears in 1 contract
Samples: Operating and Member Control Agreement (Juhl Energy, Inc)
Withdrawals. Each of the Members does hereby covenant and agree that it will not withdraw, resign, retire or disassociate from the Company, except as a result of a Transfer of its entire Interest in the Company permitted under the terms of this Agreement Agreement, or as otherwise permitted under the terms of this Agreement, and that it will carry out its duties and responsibilities hereunder until the Company is terminated, liquidated and dissolved under Section 13. No Except as otherwise provided in this Agreement, no Member shall be entitled to receive any distribution or otherwise receive the fair market value of its Interest in compensation for any purported resignation or withdrawal not in accordance with the terms of this Agreement.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
Withdrawals. Each of the Members does hereby covenant and agree that it will not withdraw, resign, retire or disassociate from the Company, except as a result of a Transfer of its entire Interest in the Company permitted under the terms of this Agreement and that it will carry out its duties and responsibilities hereunder until the Company is terminated, liquidated and dissolved under Section 1312. No Member shall be entitled to receive any distribution or otherwise receive the fair market value of its Interest in compensation for any purported resignation or withdrawal not in accordance with the terms of this Agreement.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Bluerock Enhanced Multifamily Trust, Inc.)