Disassociation. A Person ceases to be a Member upon the happening of any of the following events:
(i) The withdrawal of the Member;
(ii) A Member becoming a Bankrupt Member;
(iii) In the case of a Member who is acting as a Member by virtue of being a trustee of a trust, the termination of the trust (but not merely the substitution of a new trustee);
(iv) In the case of a Member that is an organization other than a corporation, the dissolution and commencement of winding up of the organization;
(v) In the case of a Member that is a corporation, the filing of a certificate of dissolution, or its equivalent, for the corporation or the revocation of its charter if not reinstated within ninety (90) days; or
(vi) In the case of a Member who is a natural person, the adjudication of incompetency or death of the Member.
Disassociation. Unless and until an Event of Bankruptcy constitutes an Event of Default, Section 18-304 of the Delaware Limited Liability Company Act, and any other applicable statute or principle of law, and any other provision herein, shall not result in such Member ceasing to be a Member in the Company or otherwise result in such Member’s rights being restricted, limited or abridged.
Disassociation. 10.1 The disassociation of any Member or Members will not have the effect of dissolving the Company.
Disassociation. Any Person shall cease to be a Partner upon the happening of any of the following events:
10.5.1 the withdrawal of a Partner with the consent of a Majority Vote of the Partners (not including the withdrawing Partner);
10.5.2 any Partner becomes a Bankrupt Partner; [ ] = Confidential Treatment Requested
10.5.3 in the case of any Partner who is a natural person, the death of that Partner or the entry of an order by a court of competent jurisdiction adjudicating that Partner incompetent to manage that Partner's personal estate;
10.5.4 in the case of any Partner who is acting as a Partner by virtue of being a trustee of a trust, the termination of the trust (but not merely the substitution of a new trustee);
10.5.5 in the case of any Partner that is a separate Organization other than a corporation, the dissolution and commencement of winding up of the separate Organization;
10.5.6 in the case of any Partner that is a corporation, the filing of a certificate of dissolution, or its equivalent, for the corporation or the revocation of its charter; PROVIDED, that in no event shall the merger of any Partner, whether or not such Partner survives such merger, result in a Disassociation of such Partner; or
10.5.7 in the case of any Partner that is an estate, the distribution by the fiduciary of the estate's entire interest in the Company.
Disassociation. A person ceases to be a Member of the Company upon the occurrence of, and at the time of, any Event of Bankruptcy (as defined below), unless the Members unanimously consent to continue the person as a Member. For purposes of this Agreement, an “Event of Bankruptcy” shall mean the occurrence of any of the following events:
(a) An assignment for the benefit of creditors;
(b) The filing of a voluntary petition of bankruptcy;
(c) The adjudication of bankruptcy or insolvency or the entry of an order for relief in any bankruptcy or insolvency proceeding;
(d) The filing of a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any statute, law, or regulation;
(e) Seeking, consenting to, or acquiescence to the appointment of a trustee for, receiver for, or liquidation of all or any substantial part of the property of the Shareholder; or
(f) Any proceeding seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any statute, law, or regulation that continues for one hundred twenty (120) days after the commencement thereof, or the appointment of a trustee, receiver, or liquidator of all or any substantial part of the property thereof without agreement or acquiescence, which appointment is not vacated or stayed during the 120-day period, or, if the appointment is stayed, for 120 days after the expiration of the stay during which period the appointment is not vacated.
Disassociation. Upon the Disassociation of a Class B Member, the Company will continue without dissolution, and the Disassociated Class B Member shall be deemed to have transferred all of the financial rights associated with his/ her/its financial rights to such Class B Member's legal successor in interest as set forth in Section 10.2(b).
Disassociation. (a) If an event of disassociation occurs with respect to any Member as provided in Section 70-00-000 of the Act, the disassociating Member shall cease to be a Member, and to the extent the disassociating Member continues to hold Units such Person shall be treated for all purposes as an unadmitted transferee, holding Financial Rights but no Governance Rights, with respect to such Units. The disassociating Member shall have no right to receive the fair value of such Units as a result of the event of disassociation.
(b) No Member has the power to withdraw by voluntary act from the Company.
Disassociation. A Person shall cease to be a Member upon the happening of any of the following events:
(i). The withdrawal or retirement of such Member with the consent of a Majority In Interest;
(ii). The bankruptcy of such Member;
(iii). In the case of a Member who is a natural person, (a) the death of the Member; (b) the entry of an order by a court of competent jurisdiction adjudicating such Member incompetent to manage the Member’s estate; or (c) his or her divorce;
Disassociation. A. For a period of two years following the effective date of the merger, the Brockton Unit and Providence shall have the option of disassociating from each other and restoring each body as it existed prior to the merger’s effective date.
B. In the event that either party seeks to disassociate, it agrees that such action will be taken only after the parties have undertaken mediation to resolve their differences through the use of a mutually agreed neutral third party. If the parties are unable to agree on a neutral third party, they shall jointly petition the International Union for appointment of a neutral third party.
C. Disassociation shall be effective only upon a majority affirmative vote of those members in good standing voting on the issue by either the Brockton Unit or Providence.
D. In the event that a disassociation occurs, the treasury of Brockton as it existed on the last day prior to effective date of the merger shall be restored to it by Providence. All dues collected by Providence following the merger’s effective date and not used to maintain the balance of the Brockton Unit treasury under the terms of this Merger Agreement shall remain the property of Providence.
E. The right of either party to disassociate from the other shall expire twenty- four (24) months after the effective date of the merger.
Disassociation. Until all modifications and alterations required by this Section 19.1 are completed, Xxxxxx will maintain a conspicuous sign at each Property’s registration desk in a form reasonably agreed by the parties stating that the Property is no longer associated with Marriott.
