[quote=Owen Wulf]
Lose all your Iron Knife Tokens and you are kicked out of the Leagues (though you keep any remaining Prize Tokens you had).[/quote]
Fairly certain you lose your prize tokens if you’re kicked out. I know I did when I got kicked out from handing in all my tokens for a candle (And it was the subsequent storylet from having 0 tokens, NOT the initial storylet of pouring my iron knife tokens down a well). Presumably this would also apply to you dying and losing all your tokens, so be careful.