Common use of Continuation of the Company Clause in Contracts

Continuation of the Company. In certain circumstances after a Dissolution Event, the remaining Members may choose to continue the Company and the Company shall continue, uninterrupted by the Dissolution Event, as if the Dissolution Event had not occurred. The remaining Member shall not have this option after the entry of a judicial decree of dissolution. The remaining Member may exercise the option only within 90 days after the Dissolution Event and only if the remaining Member admits at least one additional Member, if the LaLLCL so requires.