Common use of Covenant Not to Withdraw Clause in Contracts

Covenant Not to Withdraw. Notwithstanding any provision in the Act, each Member hereby covenants and agrees that the Member has entered into this Agreement and formed the Company based on its expectation that each Member will continue as a Member of the Company and carry out the duties and obligations undertaken by it in this Agreement and the Collateral Agreements and that, except as otherwise expressly required or permitted hereby, each Member hereby covenants and agrees not to, without the consent of the other Member (a) take any action to file a certificate of dissolution or its equivalent with respect to such Member, (b) take any action that would cause the voluntary Bankruptcy of such Member, (c) withdraw or attempt to withdraw from the Company, unless pursuant to a Permitted Transfer in accordance with Section 7.2 hereof, (d) Transfer all or any portion of its Interest in the Company except as otherwise provided in Article 7 hereof, or (e) demand a return of such Member's Capital Contribution or Capital Account prior to the dissolution and liquidation of the Company pursuant to Section 12.1 hereof.

Covenant Not to Withdraw. Notwithstanding any provision in the Act, ------------------------ each Member hereby covenants and agrees that the Member has entered into this Agreement and formed the Company based on its expectation that each Member will continue as a Member of the Company and carry out the duties and obligations undertaken by it in this Agreement and the Collateral Agreements in contemplation of the development of the Pad Sites and that, except as otherwise expressly required or permitted hereby, each Member hereby covenants and agrees not to, without the consent of the other Member (a) take any action to file a certificate of dissolution or its equivalent with respect to such Member, (b) take any action that would cause the voluntary Bankruptcy of such Member, (c) withdraw or attempt to withdraw from the Company, unless pursuant to a Permitted Transfer in accordance with Section 7.2 hereof, (d) Transfer all or any portion of its Interest in the Company except as otherwise provided in Article 7 hereof, or (e) demand a return of such Member's Capital Contribution or Capital Account prior to the dissolution and liquidation of the Company pursuant to Section 12.1 hereof.