Exercise Event. If an Exercise Event (as defined in the Warrant Agreement) occurs with respect to a Member (the "Event Member"), the LLC shall be dissolved upon written notice (a "Termination Notice") by the Member other than the Event Member (also a "TO Member") of its desire to terminate the LLC, which notice shall be delivered, if at all, within sixty (60) days following the occurrence of the Exercise Event. Upon the delivery and receipt of the Termination Notice (the "Application Date"), the TO Member shall be entitled to receive a payment from the Event Member equal in amount to the Termination Transition Fee, which fee shall be payable within thirty days after the Applicable Date.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Wyle Electronics), Limited Liability Company Agreement (Marshall Industries)