Ceasing to be a Member. A Member shall cease to be a Member only when (a) the Member suffers an Event of Dissociation; or (b) the Member’s entire Member Units and Interests are transferred under Section 10.1 or Article 12 hereof. Except as provided in this Section 3.4, neither the Company nor any Member shall have the right to remove any other Member.
Appears in 3 contracts
Sources: Limited Liability Company Operating Agreement (Diamond Resorts Parent, LLC), Limited Liability Company Operating Agreement (Diamond Resorts Parent, LLC), Limited Liability Company Agreement (Diamond Resorts Parent, LLC)
Ceasing to be a Member. A Member shall cease to be a Member only when and shall have no power to exercise any rights of a Member if such Member:
(a) the Member suffers an Event of DissociationTransfers his entire Membership Share; or or
(b) Is expelled from the Member’s entire Member Units and Interests are transferred Company by judicial determination under Section 10.1 or Article 12 hereof. Except as provided in this Section 3.4, neither 33-44-601(6) of the Company nor any Member shall have the right to remove any other MemberAct.
Appears in 1 contract
Sources: Operating Agreement