Resignation of Member. The Member shall be prohibited from resigning as a member of the Company. The bankruptcy (as defined in the Act) of a Member or a Special Member shall not cause such Member or Special Member to cease to be a Member or Special Member of the Company and upon the occurrence of such an event, the business of the Company shall continue without dissolution.
Appears in 4 contracts
Sources: Limited Liability Company Agreement (HPSC Inc), Limited Liability Company Agreement (HPSC Inc), Limited Liability Company Agreement (HPSC Inc)
Resignation of Member. The Member shall be prohibited from resigning as a member of the Company. The resignation, withdrawal, dissociation or bankruptcy (as defined in the Act) of a Member or a Special Member Members shall not cause such Member or Special Member Members to cease to be a Member or Special Member Members of the Company and upon the occurrence of such an event, the business of the Company shall continue without dissolution.
Appears in 2 contracts
Sources: Limited Liability Company Operating Agreement (Charter Equipment Lease 1998-1 LLC), Limited Liability Company Operating Agreement (Charter Equipment Lease 1998-1 LLC)