Successor Member definition
Examples of Successor Member in a sentence
It is the intent of the Company that the Member (or the Successor Member) shall be the only member and that only one Membership Interest shall exist at any time.
The Member may resign from the Company, effect a partial or complete withdrawal from the Company, or effect a voluntary dissolution or voluntary bankruptcy of the Company only if there is a Successor Member to succeed its interests in the Company.
References in this Agreement to the Member shall thereafter be references to the Successor Member and the Successor Member shall be subject to the comparable limitations on Transfer of the Membership Interest and will be bound by the terms of this Agreement.
The member of the Member following a Merger, or the transferee corporation following a Reorganizational Exchange (each, as the case may be, the "Successor Member"), shall become the sole owner of the Membership Interest and shall agree to be bound by the terms and conditions of this Agreement.
The Successor Member of the last Sempra Member to sell its interest in the Partnership shall succeed to all such rights.