CONTINUATION OF COMPANY. The resignation, withdrawal, expulsion, insolvency or dissolution of the Member or the occurrence of any event that terminates the continued membership of the Member shall not, in and of itself, cause the Company to be dissolved or its affairs to be wound up, and upon the occurrence of any such event, the Company shall, to the fullest extent permitted by law, be continued without dissolution as permitted by this Agreement and the Act. In the event the Member’s interest in the Company is terminated, provisions herein requiring the vote or consent of the Member shall no longer apply.
Appears in 46 contracts
Samples: Limited Liability Company Agreement (Honda Auto Receivables 2012-2 Owner Trust), Limited Liability Company Agreement (Honda Auto Receivables 2014-4 Owner Trust), Limited Liability Company Agreement (Honda Auto Receivables 2012-3 Owner Trust)
CONTINUATION OF COMPANY. The resignation, withdrawal, expulsion, Bankruptcy, insolvency or dissolution of the Member or the occurrence of any event that terminates the continued membership of the Member shall not, in and of itself, cause the Company to be dissolved or its affairs to be wound up, and upon the occurrence of any such event, the Company shall, to the fullest extent permitted by law, shall be continued without dissolution as permitted by this Agreement and the Act. In the event the Member’s interest in the Company is terminated, provisions herein requiring the vote or consent of the Member shall no longer apply.
Appears in 16 contracts
Samples: Limited Liability Company Agreement (Nissan Auto Leasing LLC Ii), Limited Liability Company Agreement (Nissan-Infiniti Lt), Limited Liability Company Agreement (Nissan-Infiniti Lt)
CONTINUATION OF COMPANY. The resignation, withdrawal, expulsion, bankruptcy, insolvency or dissolution of the Member or the occurrence of any event that terminates the continued membership of the Member shall not, in and of itself, cause the Company to be dissolved or its affairs to be wound up, and upon the occurrence of any such event, the Company shall, to the fullest extent permitted by law, shall be continued without dissolution as permitted by this Agreement and - the Act. In the event the Member’s 's interest in the Company is terminated, provisions herein requiring the vote or consent of the Member shall no longer apply.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Toyota Auto Finance Receivables LLC)
