Llc Member Withdrawal Agreement Template

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LLC Member Withdrawal Agreement Template

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LLC Member Withdrawal Agreement Template (1)
Between:
[Name of the Withdrawing Member]
[Member’s ID]
[Member’s Address]
[Member’s Phone]
[Member’s Email]
And:
[Name of the LLC]
[LLC’s ID]
[LLC’s Address]
Introduction:
This document outlines the terms and conditions under which the Member withdraws from the LLC, effective as of [Withdrawal Date].
Clause 1: Reason for Withdrawal
The Withdrawing Member specifies the reason for withdrawal as follows: [Specify reason for withdrawal].
Clause 2: Effective Date
The withdrawal shall become effective on [Effective Date].
Clause 3: Distribution of Assets
Upon withdrawal, the Withdrawing Member shall receive their proportionate share of the LLC’s assets as per the agreed valuation: [Specify terms of asset distribution].
Clause 4: Release of Liability
Upon withdrawal, the Withdrawing Member shall be released from any further obligations or liabilities of the LLC as of the Effective Date.
Clause 5: Confidentiality Obligations
The Withdrawing Member agrees to maintain confidentiality regarding the LLC’s business operations and sensitive information, continuing beyond the date of withdrawal.
Clause 6: Governing Law
This agreement shall be governed by the laws of [State/Jurisdiction].
Signed in [City], [Date].
Sincerely,
[Signature of the Withdrawing Member]
[Name of the Withdrawing Member]
[Signature of an Authorized Member of the LLC]
[Name of Authorized Member]
LLC Member Withdrawal Agreement Template (2)
Between:
[Name of the Withdrawing Member]
[Member’s ID]
[Member’s Address]
[Member’s Phone]
[Member’s Email]
And:
[Name of the LLC]
[LLC’s ID]
[LLC’s Address]
Introduction:
This agreement serves to formalize the withdrawal of a member from the LLC, commencing as of [Withdrawal Date], and outlines the relevant conditions.
Clause 1: Withdrawal Process
The withdrawal will follow the process established by the LLC Operating Agreement and applicable state laws: [Specify process].
Clause 2: Buyout Terms
The member’s interest in the LLC shall be bought out at a valuation determined by: [Specify method of valuation].
Clause 3: Indemnification
The Withdrawing Member agrees to indemnify the LLC against any claims arising prior to the Effective Date.
Clause 4: Future Participation and Non-Compete
The Withdrawing Member agrees not to engage in or compete with the business of the LLC for a period of [Specify duration].
Clause 5: Acknowledgment of Receipt
The Withdrawing Member acknowledges receipt of all owed distributions and confirms that no further claims will arise post-withdrawal.
Signed in [City], [Date].
Sincerely,
[Signature of the Withdrawing Member]
[Name of the Withdrawing Member]
[Signature of an Authorized Member of the LLC]
[Name of Authorized Member]

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Please complete the form below to create the LLC Member Withdrawal Agreement Template. All fields must be filled out to ensure a clear and complete agreement. We provide examples to guide you through each step.

LLC Member Withdrawal Agreement Template

1. Member Information


2. LLC Information


3. Withdrawal Details

4. Financial Terms

5. Rights and Obligations

6. Indemnification Clause

7. Confidentiality Agreement

8. Governing Law

9. Acceptance and Signatures

10. Declaration and Signatures



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LLC Member Withdrawal Agreement Template

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Llc Member Withdrawal Agreement Template