Common use of Conditions of Dissolution Clause in Contracts

Conditions of Dissolution. The LLC shall be dissolved, its assets shall be disposed of, and its affairs wound up on the first to occur of the following: (a) a unanimous determination by the Members that the LLC shall be dissolved and wound up; (b) 180 days following written notice by any Member to the other Member that it wishes the LLC to be dissolved and wound up; (c) the Bankruptcy of a Member; (d) as provided in Section 15.12; (e) the sale of all or substantially all of the assets of the LLC; (f) the entry of a decree of judicial dissolution by a court of competent jurisdiction providing for the dissolution of the LLC; or (g) the occurrence of any other event which causes the dissolution of the LLC by operation of law.

Conditions of Dissolution. The Subject to the rights of the Class B Members to receive the Liquidating Payment under Section 8.7 of this Agreement, the LLC shall be dissolved, its assets shall be disposed of, and its affairs wound up on the first to occur of the following: (a) a unanimous determination by the Members having an aggregate Percentage Interest greater than fifty-percent (50%) that the LLC shall be dissolved and wound up; (b) 180 days following written notice by any Member to the other Member that it wishes the LLC to be dissolved and wound up; (c) the Bankruptcy of a Member; (d) as provided in Section 15.12; (e) the sale of all or substantially all of the assets of the LLC; (fc) the entry of a decree of judicial dissolution by a court of competent jurisdiction providing for the dissolution of the LLC; or (gd) the occurrence of any other event which causes the dissolution of the LLC by operation of law.