Withdrawal Process. The Members acknowledge that the withdrawal of a Member may impact the operations and financial condition of the Company, and may adversely impact the Company’s ability to perform its contractual obligations. Accordingly, the withdrawing Member and the Company agree to engage, starting as soon as possible after the Company’s receipt of the voluntary withdrawal notice under Section 11.1, written notice to the Company and the other Members after the occurrence of any event listed in Section 11.2(a) through Section 11.2(f), or the other Members delivery of written notice to the Company and the subject Member after taking action with respect to the occurrence of any event listed in Section 11.2(g) or Section 11.2(h), in good faith discussions with respect to an agreement setting forth the specific post-withdrawal requirements and obligations of the withdrawing Member (“withdrawal agreement”). If a withdrawal agreement is agreed upon and executed prior to the effective date of the withdrawal, its terms will supersede the provisions contained in this Agreement. If no withdrawal agreement is agreed to and executed within that time, the provisions of Section 11.3 through Section 11.6 will govern the withdrawal process and the Member will comply with all reasonable requirements the Company imposes on the withdrawing Member to mitigate such results, including, for example, continued participation in Company activities on the then existing terms and conditions for a period of up to ninety (90) days beyond such Member’s withdrawal; provided that the Company may not impose any new obligations on the withdrawing Member.
Appears in 2 contracts
Sources: Operating Agreement, Operating Agreement