CONTINUATION OF COMPANY. (a) Upon the occurrence of any event that causes the last remaining Member to cease to be a member of the Company (other than upon continuation of the Company without dissolution upon (i) an assignment by such Member of all of its limited liability company interest in the Company and the admission of the transferee, or the resignation of such Member and the admission of an additional member of the Company), each person acting as an Independent Manager pursuant to Section 8.3 shall, without any action of any Person and simultaneously with such Member ceasing to be a member of the Company, automatically be admitted to the Company as a Special Member and shall continue the Company without dissolution.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Higher Education Funding I), Limited Liability Company Agreement (Goal Capital Funding, LLC), Limited Liability Company Agreement (Consolidation Loan Funding Ii, LLC)
