Causes for Dissolution Sample Clauses

Causes for Dissolution. The Partnership shall be dissolved upon any of the following events: A. The General Partner’s withdrawal or adjudication of bankruptcy, or the occurrence of any other event causing dissolution of a Limited Partnership under the Act. However, if, within six (6) months from such General Partner’s withdrawal, dissolution, or adjudication of bankruptcy, the other Partners elect to continue the Partnership, then the Partnership will continue under this Agreement. B. Whenever the General Partner determines it to be in the best interest of the Partnership that it be dissolved.
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Causes for Dissolution. The Partnership shall be dissolved upon any of the following events: (a) The death, withdrawal or adjudication of bankruptcy of the General Partner, but if within ninety (90) days from the occurrence of any of the events upon which dissolution could otherwise occur, the other Partners all elect to continue the Partnership, then: (1) the Partnership will not be dissolved and it will continue under this Agreement; and (2) the remaining Limited Partners will elect a new General Partner (and the Agreement and Certificate will be amended); and (3) the Partnership Interest of any General Partner whose withdrawal caused the aborted termination shall be converted into a Limited Partnership Interest, and such former General Partner (or its trustee in bankruptcy, successors or assigns, or other personal or legal representatives) shall be a Limited Partner; (b) The unanimous vote of the Partners; and (c) The occurrence of any other event causing dissolution of a Limited Partnership under the Act.
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Causes for Dissolution. The Company will be dissolved upon any of the following: 14.1.1 the written consent by a Super-Majority Vote of the Members; 14.1.2 the sale, exchange, or other disposition of all or substantially all Company assets; 14.1.3 failure by the Company to have at least one (1) Member; 14.1.4 as otherwise provided under the Act.
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Causes for Dissolution. The Company will be dissolved upon the affirmative vote of a majority of the Transferable Interests of the Company. The death, disability, or bankruptcy of a Member shall not cause the dissolution of the Company.
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Related to Causes for Dissolution

  • No Action for Dissolution The Members acknowledge that irreparable damage would be done to the goodwill and reputation of the Company if any Member should bring an action in court to dissolve the Company under circumstances where dissolution is not required by Section 10.1. Accordingly, except where the Board has failed to cause the liquidation of the Company as required by Section 10.1 and except as specifically provided in Section 18-802, each Member hereby to the fullest extent permitted by law waives and renounces his right to initiate legal action to seek dissolution of the Company or to seek the appointment of a receiver or trustee to wind up the affairs of the Company, except in the cases of fraud, violation of law, bad faith, gross negligence, willful misconduct or willful violation of this Agreement.

  • Liquidation or Dissolution In the event the Company is liquidated or dissolved, the assets of the Company shall be distributed to the Members in accordance with the provisions of Section 11.

  • No Dissolution Except as required by the Act, the Partnership shall not be dissolved by the admission of additional Partners or withdrawal of Partners in accordance with the terms of this Agreement. The Partnership may be dissolved, liquidated wound up and terminated only pursuant to the provisions of this Article IX, and the Partners hereby irrevocably waive any and all other rights they may have to cause a dissolution of the Partnership or a sale or partition of any or all of the Partnership assets.

  • Dissolution Events The Company shall be terminated and dissolved at such time or upon the happening of such events as shall be determined by the Member.

  • Procedure for Winding Up and Dissolution If the Company is dissolved, the affairs of the Company shall be wound up. On winding up of the Company, the assets of the Company shall be distributed, first, to creditors of the Company in satisfaction of the liabilities of the Company, and then to the person(s) who is/are the Member(s) of the Company in proportion to the Member’s(s’) Interests.