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.
Appears in 5 contracts
Samples: Operating Agreement (John D. Oil & Gas Co), Operating Agreement (Energy West Inc), Operating Agreement (John D. Oil & Gas Co)
