Causes of Dissolution. The LLC shall be dissolved and terminated upon the earlier happening of the following: (a) An Event of Default has occurred as described in Section 10.1 the non-defaulting Members elect to dissolve the LLC as provided in Section 10.3 hereof; (b) The sale or other disposition of all or substantially all of the assets and properties of the LLC; or (c) The Members mutually agree to dissolve and terminate the LLC.
Appears in 2 contracts
Samples: Operating Agreement (Vertical Computer Systems Inc), Operating Agreement (Vertical Computer Systems Inc)
Causes of Dissolution. The LLC shall be dissolved and terminated upon the earlier happening occurrence of any of the following:
(a) An Event Upon the written consent of Default has occurred as described in Section 10.1 the non-defaulting Members elect to dissolve the LLC as provided in Section 10.3 hereofMember;
(b) The sale LLC sells or other disposition otherwise disposes of all or substantially all of the assets and properties of the LLC; orLLC Property;
(c) The Members mutually agree to dissolve and terminate LLC is not the LLCsurviving entity in a merger or consolidation; or
(d) A decree of dissolution is entered under the Act.
Appears in 1 contract
Samples: Operating Agreement
Causes of Dissolution. The LLC shall be dissolved and terminated upon the earlier happening of the following:
(a) a. An Event of Default has occurred as described in Section 10.1 10.1, and the nonNon-defaulting Defaulting Members elect to dissolve the LLC as provided in Section 10.3 hereof;
(b) b. The sale or other disposition of all or substantially all of the assets and properties of the LLC; or
(c) c. The Members entitled to Vote mutually agree to dissolve and terminate the LLC.
Appears in 1 contract
Samples: Operating Agreement
