Withdrawing Member Obligations Clause Samples

Withdrawing Member Obligations. Upon the election of a Member to resign from the Company pursuant to Section 18.1(a) (but not in respect of a deemed resignation of a Member pursuant to Section 3.4(a)), the Management Team shall, prior to the withdrawal of the Withdrawing Member from the Company, procure a Technical Expert to conduct an environmental baseline study that shall estimate in dollar amounts the costs and liabilities associated with reclamation of the Properties in relation to Operations conducted thereon during the period starting from and including the Effective Date up to and including the date of the Withdrawing Member's resignation or deemed resignation, as the case may be. Such calculation shall take into account the applicable amount of any sinking fund in respect of funding Continuing Obligations. The Management Team shall thereafter deliver a notice to the Withdrawing Member requiring the payment from such Withdrawing Member to the Company of its pro-rata share based on its respective Percentage Interest immediately prior to resignation of any unbonded or unfunded reclamation costs in respect of such period and each Member agrees that it shall, if it becomes a Withdrawing Member described in this Section 18.2, promptly pay such amount to the Company.