CONTINUANCE OF COMPANY. Notwithstanding the provisions of ARTICLE 1.4, in the event of an occurrence described in ARTICLE 1.4(c), if there are at least two remaining Members, said remaining Members shall have the right to continue the business of the Company. Such right can be exercised only by the unanimous vote of the remaining Members within ninety (90) days after the occurrence of an event described in ARTICLE 1.4(c). If not so exercised, the right of the Members to continue the business of the Company shall expire.
CONTINUANCE OF COMPANY. In the event of an occurrence described in ARTICLE 1.3(c), if there is at least one remaining Member, the Member has the right to continue the Company’s business.
CONTINUANCE OF COMPANY. Notwithstanding the provisions of Section 1.6.2., in the event of an occurrence described in Section 1.6.2.,1.6.2, the Member shall have the right to continue the business of the Company as allowed by law.
CONTINUANCE OF COMPANY. In the event of an occurrence described in Section 1.3(c), the Company will expire and may be administratively dissolved.
CONTINUANCE OF COMPANY. The vote of a majority-in-interest of the remaining members of the company is sufficient to continue the life of the company upon the occurrence of an event of dissolution or other termination event. If the required consent of the remaining members to continue the company is not obtained, the company’s Organization Documents must provide that the company not liquidate collateral (except as permitted under the loan documents) without the consent of holders of the loan, and that such holders may continue to exercise all of their rights under the loan documents and retain any collateral until the loan has been paid in full or otherwise completely discharged. Addendum A
CONTINUANCE OF COMPANY. Neither the complete nor partial withdrawal of a Member, in and of itself, shall terminate or dissolve the Company.
CONTINUANCE OF COMPANY. Notwithstanding the provisions of ARTICLE 1.4, in the event of an occurrence described in ARTICLE 1.4(c), if there is at least one remaining Managing Member, said remaining Majority Managing Member shall have the right to continue the business of the Company.
CONTINUANCE OF COMPANY. Notwithstanding the foregoing provisions of Section 10.1, upon the occurrence of an event described in Section 10.1(b) with respect to a Member (the "Withdrawing Member"), the other Member shall have the right to continue the business of the Company. Such right can be exercised only if the Member that is not the Withdrawing Member consents in writing, within 90 days after the occurrence of the event described in Section 10.1(b), to continue the business of the Company. If the right to continue the business of the Company is exercised, the Withdrawing Member shall no longer be a Member of the Company but shall continue to be entitled to the distributions such Member would otherwise be entitled to receive if it was not a Withdrawing Member. If the Member that is not the Withdrawing Member does not consent to continue the Company, the right of the Members to continue the business of the Company shall expire, the Administrative Member shall file a statement of intent to dissolve, and the Company's affairs shall be wound up by the Administrative Member.
CONTINUANCE OF COMPANY. Notwithstanding the foregoing provisions of Section 1.5, upon the occurrence of an event described in Section 1.5(c), the remaining Members shall have the right to continue the business of the Company. Such right can be exercised only by the affirmative vote of a simple majority ownership interest of the remaining Members present at a duly constituted meeting called pursuant to Paragraph 1.12 below, within 90 days after the occurrence of an event described in Section 1.5(c), to continue the business of the Company. If not so exercised, the right of the Members to continue the business of the Company shall expire and the Company's affairs shall be wound up as provided in Article VIII.
CONTINUANCE OF COMPANY. In the event of the death, legal incompetency, retirement, bankruptcy, withdrawal or dissolution of a Member, the Company may be continued with the consent of the remaining Members owning, in the aggregate, at least two-thirds (2/3) of the Percentage Interests then held by all of the Members.
