Voluntary Withdrawal Clause Samples
The Voluntary Withdrawal clause allows a party to exit an agreement or arrangement by their own choice, without needing to prove fault or breach by the other party. Typically, this clause outlines the process for providing notice, any required advance warning period, and potential consequences such as forfeiture of certain rights or obligations upon withdrawal. Its core function is to provide flexibility, enabling parties to leave the relationship under specified conditions, thereby reducing the risk of being locked into an unfavorable or unwanted commitment.
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Voluntary Withdrawal. If any Partner should withdraw from the Partnership, they must give at least days’ written notice to the Partnership. Such withdrawal shall have no effect on the day-to-day operations of the Partnership.
Voluntary Withdrawal. If a faculty member voluntarily withdraws from the established tenure review process, the review shall conclude at that point. If this is in the last year of the probationary period, the faculty member’s appointment will terminate at the end of the subsequent year.
Voluntary Withdrawal. A Member may, in its sole discretion, unilaterally choose to withdraw from the Authority, effective upon ninety (90) days’ prior written notice to the Authority provided that the withdrawing Member shall remain obligated to pay a percentage share of costs as outlined in the current Authority annual budget incurred, accrued or encumbered up to the date the withdrawing Member provides notice of withdrawal in an amount equal to the percentage of fees collected within the withdrawing Member’s service area. The withdrawing Member will thereafter be solely responsible for funding SGMA compliance and GSP implementation within its service area. Notwithstanding the foregoing or anything in this Agreement to the contrary, the Authority shall not rely on funding from any Member that does not concur with (i) an approved annual budget, (ii) an amendment to the budget, or (iii) a Member contribution described in Section 6.8(3) above, and the non-concurring Member shall not be liable for any costs that are incurred, accrued or encumbered following the non-concurring Member’s vote against an approved annual budget, amendment to the budget, or Member contribution, provided the non-concurring Member notices its intent to withdraw from the Authority in the manner provided for in this Section 8.1.2 within thirty (30) days of the Authority’s approval of any annual budget, amendment to the budget, or Member contribution.
Voluntary Withdrawal. A Party may withdraw at any time by giving not less than 30 days’ written notice to the other Parties of the effective date of such withdrawal. No Party shall be permitted to withdraw if such withdrawal would result in an Event of Default by or disqualification of the remaining Parties or the Project Company.
Voluntary Withdrawal. Resignation or Disassociation Prohibited A Member may not withdraw, resign or voluntarily disassociate from the Company, unless such Member complies with the transfer provisions set forth in this Article or withdraw pursuant to Article 4. The provisions of this Article shall apply to all Voluntary Transfers of a Members Interests outside of the Withdrawal Policy of the Company. Involuntary Transfers are addressed in Article 12.
Voluntary Withdrawal. Any Contracting Party may withdraw from this Agreement at any time by giving a written notice of withdrawal to the Secretary-General of the United Nations. Withdrawal shall become effective 90 days after the notice is received.
Voluntary Withdrawal. Except as expressly permitted in this -------------------- Agreement, a Member shall not voluntarily withdraw or take any other voluntary action which, directly or indirectly, causes a Dissolution Event.
Voluntary Withdrawal. No Member shall have the right or power to Voluntarily Withdraw from the Company and any Member who shall voluntarily withdraw shall be in intentional breach of this Agreement. No Member who shall Voluntarily Withdraw shall be entitled to receive, in liquidation of his Interest, pursuant to Section 25-10 of the Act or otherwise, the fair value of the Member’s Interest on the date of Voluntary Withdrawal.
Voluntary Withdrawal. No Member shall have the right or power to Voluntarily Withdraw from the Company.
Voluntary Withdrawal. A Member may withdraw voluntarily from the Company at any time by written notice to the Company given at least fifteen (15) days in advance. Upon a voluntary withdrawal by a Member, the Member shall cease to have a Membership Interest, the Member’s Membership Interest shall be automatically converted into just an Economic Interest and the Member shall not be entitled to receive the fair value of the Membership Interest as of the date of such withdrawal as otherwise provided in Section 18-604 of the Act.