Examples of Event of dissociation in a sentence
In such event, the former spouse who was less active in the Company before the divorce is deemed the Dissociated Member for the purposes of this Section.] [In addition to the events enumerated in subsection (a) as Events of Dissociation, a Member’s divorce is an Event of Dissociation if the former spouse of the Member acquires an Interest as a result of the divorce.
In such event, the former spouse who has acquired an Interest is deemed the Dissociated Member for the purposes of this Section.] [In addition to the events enumerated in subsection (a) as Events of Dissociation, a divorce is an Event of Dissociation if the Interest is divided between the former spouses.
Within twenty (20) days after the Event of Dissociation, (i) the Other Members, collectively, as a group and (ii) the Withdrawing Member shall appoint an appraiser acceptable to both parties.
No Member shall voluntarily withdraw from the Company or cause any other Event of Dissociation unless such withdrawal or other Event of Dissociation is expressly authorized by this Agreement or by a Unanimous Vote of the Members, excluding the vote of the Member who is seeking to withdraw or cause such other Event of Dissociation.
Following an Event of Dissociation, the Company shall have the right and option, exercisable for a period of sixty (60) days after the Event of Dissociation to purchase and redeem the Member Interest of the Withdrawing Member, and the Withdrawing Member, or the Withdrawing Member's representative or successor, shall be obligated to sell such Withdrawing Member's Interest to the Company.