Examples of Resigning Member in a sentence
Damages for breach of this Article 12.3 shall be monetary damages only (and not specific performance), and such damages may be offset against Distributions by such Series to which the Resigning Member would otherwise be entitled.
Unless otherwise approved by a Majority of Members, a Member who resigns (a "Resigning Member") or whose Membership Interest is otherwise terminated, shall not be entitled to receive any distributions in excess of those distributions to which such Member would have been entitled had such Member remained a Member.
Damages for breach of this Section 8.2 shall be monetary damages only (and not specific performance), and such damages may be offset against distributions by the Company to which the Resigning Member would otherwise be entitled.
Except as otherwise expressly provided herein, a Resigning Member shall immediately become and be treated for all purposes as an Assignee.
In the event that a Member violates or breaches any of its representations, warranties or agreements under this Operating Agreement, becomes a Resigning Member, or is terminated as a result of its Bankruptcy, resignation, expulsion or dissolution, then, in any such event, such Member shall be liable to the Company and to the other Members for damages incurred by the Company and such other Members and arising from such violation, breach, resignation, Bankruptcy, expulsion or dissolution.