Dissolution and Termination. (a) The Company shall be dissolved only upon the occurrence of any of the following: (i) the delivery of a written notice by any Member on or after January 1, 2004 to the other Members electing to unwind and dissolve the Company; provided, however, that such election to unwind the Company shall not be effective if at any time prior to or within 30 days after the date of any such notice, the Class A-1 Members and Class B Members have elected to acquire or cause the Company to redeem the Class A Membership Interests held by AT&T Sub pursuant to Section 11.1; (ii) the sale or other disposition of all or substantially all of the Common Stock held directly or indirectly by the Company and receipt of the final payment of any installment obligation received as a result of any such sale or disposition; (iii) the unanimous written consent of all Members; (iv) any event which makes it unlawful for the Company's business to be continued unless, no later than thirty (30) days following such event, the Members unanimously determine not to dissolve the Company; (v) the issuance of a decree by any court of competent jurisdiction that the Company be dissolved and liquidated; or (vi) at any time that there are no Members of the Company, unless the Company is continued in accordance with the Act. Upon dissolution, the Company shall wind-up its affairs and shall be liquidated and a certificate of cancellation of the Company's Certificate of Formation, as required by law, shall be filed. (b) In the event of the dissolution of the Company, its business activities shall be wound up, any amounts due from the Members shall be collected, its debts and liabilities shall be satisfied and its remaining assets, if any, shall be distributed as set forth in Section 10.2 below. Dissolution shall be effective on the date of the occurrence of an event set forth in Section 10.1(a) but the Company shall not terminate until all of the Company Assets have been liquidated and the proceeds distributed in accordance with the provisions of this Article X. Notwithstanding the dissolution of the Company, prior to the termination of the Company as aforesaid, the business of the Company and the affairs of the Members as such, shall continue to be governed by this Agreement.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Idt Corp), Limited Liability Company Agreement (Liberty Media Corp /De/)
Dissolution and Termination. (a) The Company shall be dissolved and liquidated only upon the occurrence of any of the following:
(i) the delivery of a written notice by any Member on or after January 1December 31, 2004 to the other Members electing to unwind and dissolve the Company; provided, however, that such election to unwind the Company shall not be effective if at any time prior to or within 30 days after the date of any such notice, the Class A-1 Members and Class B Members have elected to acquire or cause the Company to redeem the Class A Membership Interests held by AT&T Sub pursuant to Section 11.12045;
(ii) the sale or other disposition of all or substantially all of the Common Stock held directly or indirectly by Company Assets and the Company assets of the Subsidiaries and receipt of the final payment of any installment obligation received as a result of any such sale or disposition;
(iii) the unanimous written consent of all Managing Members;
(iv) any event which makes it unlawful for the Company's business to be continued unless, no later than thirty (30) days following such event, the Members unanimously determine not to dissolve the Company;continued; or
(v) the issuance of a decree by any court of competent jurisdiction that the Company be dissolved and liquidated; or
(vi) at any time that there are no Members of the Company, unless the Company is continued in accordance with the Act. Upon dissolution, the Company shall wind-promptly wind up its affairs and shall promptly be liquidated and a certificate of cancellation of the Company's Certificate of Formation, as required by law, shall be filed.
(b) In the event of the dissolution and liquidation of the Company, its business activities shall promptly be wound up, any amounts due from the Members shall be collected, its debts and liabilities shall be satisfied paid and its remaining assets, if any, shall be distributed as set forth in Section 10.2 below. Dissolution shall be effective on the date of the occurrence of an event set forth in Section 10.1(a) but the Company shall not terminate until all of the Company Assets and the assets of the Subsidiaries have been liquidated and the proceeds distributed in accordance with the provisions of this Article X. Notwithstanding the dissolution of the Company, prior to the termination of the Company as aforesaid, the business of the Company and the affairs of the Members as such, shall continue to be governed by this Agreement.
Appears in 2 contracts
Samples: Operating Agreement (Wellsford Real Properties Inc), Operating Agreement (Whwel Real Estate Lp)
Dissolution and Termination. (a) The Company shall be dissolved only and this Agreement shall terminate upon the occurrence of any first to occur of the followingfollowing events:
(i) the delivery of a written notice by any Member on or after January 1, 2004 to the other Members electing to unwind and dissolve the Company; provided, however, that such election to unwind the Company shall not be effective if at any time prior to or within 30 days after the date of any such notice, the Class A-1 Members and Class B Members have elected to acquire or cause the Company to redeem the Class A Membership Interests held by AT&T Sub pursuant to Section 11.1;
(ii) the sale or other disposition unanimous decision of all or substantially all of the Common Stock held directly or indirectly by the Company and receipt of the final payment of any installment obligation received as a result of any such sale or disposition;
(iii) the unanimous written consent of all Members;
(iv) any event which makes it unlawful for the Company's business to be continued unless, no later than thirty (30) days following such event, the Members unanimously determine not to dissolve the Company;
(ii) the date the Company is dissolved by operation of law or judicial decree;
(iii) a termination notice by ASFI pursuant to Section 3.9(f);
(iv) upon a breach by ASFI or PLF of any material representation, warranty, covenant or agreement made by it hereunder or otherwise; or if either ASFI or PLF fails to perform any of its material obligations hereunder; unless, in either event, such breach or failure is cured within thirty (30) days or within such further period as may be reasonably necessary to cure such breach in good faith after delivery of written notice thereof from the Company or the other Member;
(v) either any of the issuance Asta Parties or the PLF Parties: (A) engages in any criminal conduct or fraud; or (B) becomes insolvent, admits in writing its inability to pay debts as they mature, institutes or has instituted against it any bankruptcy, reorganization, debt arrangement, assignment for the benefit of a decree by creditors, or other proceeding under any court of competent jurisdiction that the Company be dissolved and liquidated; orbankruptcy or insolvency law or dissolution, receivership, or liquidation proceeding (and, if such proceeding is instituted against it, such proceeding is not dismissed within ninety (90) days in accordance with Section ninety days (90));
(vi) at any time that by either Member upon (30) days prior written notice to the other Member if there are no Members is a change in Laws which materially and adversely limits the conduct of the CompanyBusiness (a “Change of Law Event”);
(vii) by ASFI pursuant to Section 1.10;
(viii) upon the death of both Xxxxxxxxxx and Khanas;
(ix) by either Member, unless the Company if funding of all Loans is continued in accordance with the Act. Upon dissolution, the Company shall wind-up its affairs and shall be liquidated and a certificate of cancellation of the Company's Certificate of Formation, as required suspended by law, shall be filed.ASFI under Paragraph 1.11(a) for more than thirty (30) consecutive days;
(b) In the event Unless otherwise expressly set forth herein, resignation or expulsion of a Member shall not cause the dissolution of the Company, its business activities shall be wound up, any amounts due from the Members shall be collected, its debts and liabilities shall be satisfied and its remaining assets, if any, shall be distributed as set forth in Section 10.2 below. Dissolution shall be effective on the date of the occurrence of an event set forth in Section 10.1(a) but the Company shall not terminate until all of the Company Assets have been liquidated and the proceeds distributed in accordance with the provisions of this Article X. Notwithstanding the dissolution of the Company, prior to the termination of the Company as aforesaid, the business of the Company and the affairs of the Members as such, shall continue to be governed by this Agreementwithout effect.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement (Asta Funding Inc)
Dissolution and Termination. (a) The Company shall be dissolved only and its business wound up upon the occurrence earlier to occur of any of the followingfollowing events:
(i) the delivery expiration of a written notice by any Member on or after January 1, 2004 to the other Members electing to unwind and dissolve term of the Company; provided, however, that such election to unwind the Company shall not be effective if at any time prior to or within 30 days after the date of any such notice, the Class A-1 Members and Class B Members have elected to acquire or cause the Company to redeem the Class A Membership Interests held by AT&T Sub pursuant to Section 11.1;
(ii) the sale or other disposition written consent of all or substantially all of the Common Stock held directly or indirectly by the Company and receipt of the final payment of any installment obligation received as a result of any such sale or disposition;Members; or
(iii) the unanimous written consent termination of all Members;
(iv) the legal existence of the last remaining member of the Company or the occurrence of any other event which makes it unlawful for terminates the Company's business to be continued unless, no later than thirty (30) days following such event, membership of the Members unanimously determine not to dissolve the Company;
(v) the issuance last remaining member of a decree by any court of competent jurisdiction that the Company be dissolved and liquidated; or
(vi) at any time that there are no Members of in the Company, Company unless the Company is continued without dissolution in accordance with a manner permitted by this Agreement or the Delaware Act. Upon dissolution, ; or
(iv) the Company shall windentry of a decree of judicial dissolution under Section 18-up its affairs and shall be liquidated and a certificate of cancellation 802 of the Company's Certificate of Formation, as required by law, shall be filedDelaware Act.
(b) In the event of the dissolution of Upon dissolution, the Company, its ’s business activities shall be wound up, any amounts due from the liquidated in an orderly manner. The Members shall be collected, its debts and liabilities shall be satisfied and its remaining assets, if any, shall be distributed act jointly as set forth in Section 10.2 below. Dissolution shall be effective on the date of the occurrence of an event set forth in Section 10.1(aliquidator (unless they jointly elect to appoint a liquidator) but the Company shall not terminate until all of the Company Assets have been liquidated and the proceeds distributed in accordance with the provisions of this Article X. Notwithstanding the dissolution of the Company, prior to the termination of the Company as aforesaid, wind up the business of the Company pursuant to this Agreement. If there shall be no Member, the successors-in-interest of the last Member may approve one or more liquidators to act as the liquidator in carrying out such liquidation. In performing its duties, the liquidator is authorized to sell, distribute, exchange or otherwise dispose of the assets of the Company in accordance with the Delaware Act and in any reasonable manner that the affairs liquidator shall determine to be in the best interest of the Members or their successors-in-interest.
(c) In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of property in kind, such property shall be transferred and conveyed to the Members so as suchto vest in each of them, as a tenant-in-common, an undivided interest in the whole of such property equal to their interests in the property based upon the amount of cash that would be distributed to each of the Members in accordance with paragraph 11 hereof if such property were sold for an amount of cash equal to the fair market value of such property, as determined by the liquidator in good faith.
(d) Any liquidating distribution shall continue be made no later than the later to be governed by this Agreementoccur of (i) the end of the taxable year during which such liquidation occurs and (ii) 90 days after the date of such liquidation.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (TNHC - Santa Clarita GP LLC), Limited Liability Company Agreement (TNHC - Santa Clarita GP LLC)
Dissolution and Termination. (a) The Company shall be dissolved and liquidated only upon the occurrence of any of the following:
(i) the delivery of a written notice by any Member on or after January 1December 31, 2004 to the other Members electing to unwind and dissolve the Company; provided, however, that such election to unwind the Company shall not be effective if at any time prior to or within 30 days after the date of any such notice, the Class A-1 Members and Class B Members have elected to acquire or cause the Company to redeem the Class A Membership Interests held by AT&T Sub pursuant to Section 11.12045;
(ii) the sale or other disposition of all or substantially all of the Common Stock held directly or indirectly by the Company Assets and receipt of the final payment of any installment obligation received as a result of any such sale or disposition;
(iii) the unanimous written consent of all Members;
(iv) any event which makes it unlawful for the Company's business to be continued unless, no later than thirty (30) days following such event, the Members unanimously determine not to dissolve the Company;continued; or
(v) the issuance of a decree by any court of competent jurisdiction that the Company be dissolved and liquidated; or
(vi) at any time that there are no Members of the Company, unless the Company is continued in accordance with the Act. Upon dissolution, the Company shall wind-promptly wind up its affairs and shall promptly be liquidated and a certificate of cancellation of the Company's Certificate of Formation, as required by law, shall be filed.
(b) In the event of the dissolution and liquidation of the Company, its business activities shall promptly be wound up, any amounts due from the Members shall be collected, its debts and liabilities shall be satisfied paid and its remaining assets, if any, shall be distributed as set forth in Section 10.2 below. Dissolution shall be effective on the date of the occurrence of an event set forth in Section 10.1(a) but the Company shall not terminate until all of the Company Assets assets have been liquidated and the proceeds distributed in accordance with the provisions of this Article X. Notwithstanding the dissolution of the Company, prior to the termination of the Company as aforesaid, the business of the Company and the affairs of the Members as such, shall continue to be governed by this Agreement.
Appears in 2 contracts
Samples: Operating Agreement (Wellsford Real Properties Inc), Operating Agreement (Whwel Real Estate Lp)
Dissolution and Termination. (a) The Company shall be dissolved and liquidated only upon the occurrence of any of the following:
(i) the delivery of a written notice by any Member on or after January 1December 31, 2004 to the other Members electing to unwind and dissolve the Company; provided, however, that such election to unwind the Company shall not be effective if at any time prior to or within 30 days after the date of any such notice, the Class A-1 Members and Class B Members have elected to acquire or cause the Company to redeem the Class A Membership Interests held by AT&T Sub pursuant to Section 11.12045;
(ii) the sale or other disposition of all or substantially all of the Common Stock held directly or indirectly by the Company Assets and receipt of the final payment of any installment obligation received as a result of any such sale or disposition;
(iii) the unanimous written consent of all Initial Members;
(iv) any event which makes it unlawful for the Company's business to be continued unless, no later than thirty (30) days following such event, the Members unanimously determine not to dissolve the Company;
continued; or (v) the issuance of a decree by any court of competent jurisdiction that the Company be dissolved and liquidated; or
(vi) at any time that there are no Members of the Company, unless the Company is continued in accordance with the Act. Upon dissolution, the Company shall wind-promptly wind up its affairs and shall promptly be liquidated and a certificate of cancellation of the Company's Certificate of Formation, as required by law, shall be filed.
(b) In the event of the dissolution and liquidation of the Company, its business activities shall promptly be wound up, any amounts due from the Members shall be collected, its debts and liabilities shall be satisfied paid and its remaining assets, if any, shall be distributed as set forth in Section 10.2 below. Dissolution shall be effective on the date of the occurrence of an event set forth in Section 10.1(a) but the Company shall not terminate until all of the Company Assets assets have been liquidated and the proceeds distributed in accordance with the provisions of this Article X. Notwithstanding the dissolution of the Company, prior to the termination of the Company as aforesaid, the business of the Company and the affairs of the Members as such, shall continue to be governed by this Agreement.
Appears in 1 contract
Samples: Operating Agreement (Wellsford Real Properties Inc)
Dissolution and Termination. (a) The Company shall be dissolved only and its business wound up upon the occurrence earliest to occur of any of the followingfollowing events:
(i) The expiration of the delivery term of a written notice by any Member on or after January 1, 2004 to the other Members electing to unwind and dissolve the Company; provided, however, that such election to unwind the Company shall not be effective if at any time prior to or within 30 days after the date of any such notice, the Class A-1 Members and Class B Members have elected to acquire or cause the Company to redeem the Class A Membership Interests held by AT&T Sub pursuant to Section 11.1;
(ii) the The sale or other disposition of all or substantially all of the Common Stock held directly or indirectly by the Company and receipt of the final payment of any installment obligation received as a result of any such sale or disposition;Company's assets.
(iii) The termination of the unanimous written consent legal existence of all Members;
(iv) the last remaining member of the Company or the occurrence of any other event which makes it unlawful for terminates the Company's business to be continued unless, no later than thirty (30) days following such event, membership of the Members unanimously determine not to dissolve the Company;
(v) the issuance last remaining member of a decree by any court of competent jurisdiction that the Company be dissolved and liquidated; or
(vi) at any time that there are no Members in the Company unless the business of the Company, unless the Company is continued in accordance with a manner permitted by this Agreement or the Delaware Act; or
(iv) The entry of a decree of judicial dissolution under Section 18-802 of the Delaware Act. Upon dissolution, the occurrence of any event that causes the last remaining member of the Company shall wind-up its affairs and shall to cease to be liquidated and a certificate of cancellation member of the Company's Certificate of Formation, as required to the fullest extent permitted by law, shall be filedthe personal representative of such member is hereby authorized to, and shall, within 90 days after the occurrence of the event that terminated the continued membership of such member in the Company, agree in writing (i) to continue the Company and (ii) to the admission of the personal representative or its nominee or designee, as the case may be, as a substitute member of the Company, effective as of the occurrence of the event that terminated the continued membership of the last remaining member of the Company in the Company.
(b) In the event of the dissolution of the Company, its business activities shall be wound up, any amounts due from the Members shall be collected, its debts and liabilities shall be satisfied and its remaining assets, if any, shall be distributed as set forth in Section 10.2 below. Dissolution shall be effective on the date of the occurrence of an event set forth in Section 10.1(a) but the The Company shall not dissolve, liquidate or terminate until all upon the death, Bankruptcy, insolvency, dissolution, liquidation, termination, resignation, or removal of the Company Assets have been liquidated and the proceeds distributed in accordance with the provisions of this Article X. Notwithstanding the dissolution of Member.
(c) Upon dissolution, the Company, prior 's business shall be liquidated in an orderly manner. The Member shall act as the liquidating trustee to the termination of the Company as aforesaid, wind up the business of the Company and pursuant to this Agreement. If there shall be no remaining Member, the affairs successor-in-interest of the Members Member may approve one or more liquidating trustees to act as suchthe liquidator in carrying out such liquidation. In performing its duties, the liquidator is authorized to sell, distribute, exchange or otherwise dispose of the assets of the Company in accordance with the Delaware Act and in any reasonable manner that the liquidator shall determine to be in the best interest of the Member or its successors-in-interest.
(d) In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of property in kind, such property shall be transferred and conveyed to the Member.
(e) The Company shall terminate when (i) all of the assets of the Company, after payment of or due provision for all debts, liabilities and obligations of the Company, shall continue have been distributed to be governed the Member in the manner provided for in this Agreement and (ii) the Certificate of Formation of the Company shall have been canceled in the manner required by this Agreementthe Delaware Act.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Cedar Income Fund LTD /Md/)
Dissolution and Termination. (a) The Company shall be dissolved only and its business wound up upon the occurrence earlier to occur of any of the followingfollowing events:
(i) The expiration of the delivery term of a written notice by any Member on or after January 1, 2004 to the other Members electing to unwind and dissolve the Company; provided, however, that such election to unwind the Company shall not be effective if at any time prior to or within 30 days after the date of any such notice, the Class A-1 Members and Class B Members have elected to acquire or cause the Company to redeem the Class A Membership Interests held by AT&T Sub pursuant to Section 11.1;
(ii) the sale or other disposition The written consent of all or substantially all of the Common Stock held directly or indirectly by the Company and receipt of the final payment of any installment obligation received as a result of any such sale or disposition;Members; or
(iii) The death, retirement, resignation, expulsion, bankruptcy or dissolution of any Member or the unanimous written consent occurrence of all Members;
(iv) any other event which makes it unlawful for terminates the Company's business to be continued unless, no later than thirty (30) days following such event, the Members unanimously determine not to dissolve the Company;
(v) the issuance membership of a decree by any court of competent jurisdiction that the Company be dissolved and liquidated; or
(vi) at any time that there are no Members of Member in the Company, unless the Company is continued in accordance with the Act. Upon dissolutionwithin 90 days after such event, the Company shall winda majority-up its affairs and shall be liquidated and a certificate of cancellation in-interest of the Company's Certificate of Formation, as required by law, shall be filed.
(b) In the event of the dissolution of the Company, its business activities shall be wound up, any amounts due from the remaining Members shall be collected, its debts and liabilities shall be satisfied and its remaining assets, if any, shall be distributed as set forth agree in Section 10.2 below. Dissolution shall be effective on the date of the occurrence of an event set forth in Section 10.1(a) but the Company shall not terminate until all of the Company Assets have been liquidated and the proceeds distributed in accordance with the provisions of this Article X. Notwithstanding the dissolution of the Company, prior writing to the termination of the Company as aforesaid, continue the business of the Company and there is at least one remaining Member.
(b) Upon dissolution, the affairs Company’s business shall be liquidated in an orderly manner. The Members shall act jointly as the liquidator (unless they jointly elect to appoint a liquidator) to wind up the business of the Company pursuant to this Agreement. If there shall be no remaining Member, the successors-in-interest of the last Member may approve one or more liquidators to act as the liquidator in carrying out such liquidation. In performing its duties, the liquidator is authorized to sell, distribute, exchange or otherwise dispose of the assets of the Company in accordance with the Connecticut Act and in any reasonable manner that the liquidator shall determine to be in the best interest of the Members or their successors-in-interest.
(c) In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of property in kind, such property shall be transferred and conveyed to the Members so as suchto vest in each of them, shall continue as a tenant-in-common, an undivided interest in the whole of such property equal to their interests in the properly based upon the amount of cash that would be governed distributed to each of the Members in accordance with paragraph 11 hereof if such property were sold for an amount of cash equal to the fair market value of such property, as determined by this Agreementthe liquidator in good faith.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Broadview Networks Holdings Inc)
Dissolution and Termination. (a) The Company shall be dissolved only and its business wound up upon the earlier to occur of any of the following events:
(i) The expiration of the term of the Company;
(ii) The written consent of the Member;
(iii) The death, retirement, resignation, expulsion, bankruptcy or dissolution of the Member or the occurrence of any other event which terminates the continued membership of the Member in the Company or;
(iv) The occurrence of any other event specified under the laws of the Commonwealth of Virginia as one effecting dissolution.
(b) Upon dissolution, the Company’s business shall be liquidated in an orderly manner. The Member shall act as the liquidator (unless the Member elects to appoint a liquidator) to wind up the business of the Company pursuant to this Agreement. If there shall be no Member, the successors-in-interest of the Member may approve one or more liquidators to act as the liquidator in carrying out such liquidation. In performing its duties, the liquidator is authorized to sell, distribute, exchange or otherwise dispose of the assets of the Company in accordance with the Virginia Limited Liability Company Act and in any reasonable manner that the liquidator shall determine to be in the best interest of the Member or its successors-in-interest.
(c) Notwithstanding anything to the contrary contained in this Section 12, upon the occurrence of any event that causes the Member to cease to be a member of the following:
Company (other than (i) upon an assignment by the delivery Member of a written notice by any Member on or after January 1, 2004 to the other Members electing to unwind and dissolve the Company; provided, however, that such election to unwind all of its limited liability company interest in the Company shall not be effective if at any time prior to or within 30 days after and the date admission of any such notice, the Class A-1 Members and Class B Members have elected to acquire or cause the Company to redeem the Class A Membership Interests held by AT&T Sub transferee pursuant to Section 11.1;
13(b) below, or (ii) the sale or other disposition of all or substantially all resignation of the Common Stock held directly or indirectly by Member and the admission of a replacement member of the Company and receipt of pursuant to this Agreement), to the final payment of any installment obligation received as a result of any such sale or disposition;
(iii) the unanimous written consent of all Members;
(iv) any event which makes it unlawful for the Company's business to be continued unless, no later than thirty (30) days following such event, the Members unanimously determine not to dissolve the Company;
(v) the issuance of a decree by any court of competent jurisdiction that the Company be dissolved and liquidated; or
(vi) at any time that there are no Members of the Company, unless the Company is continued in accordance with the Act. Upon dissolution, the Company shall wind-up its affairs and shall be liquidated and a certificate of cancellation of the Company's Certificate of Formation, as required fullest extent permitted by law, shall be filed.
(b) In the event personal representative of the dissolution of the CompanyMember is hereby authorized to, its business activities shall be wound upand shall, any amounts due from the Members shall be collected, its debts and liabilities shall be satisfied and its remaining assets, if any, shall be distributed as set forth in Section 10.2 below. Dissolution shall be effective on the date of within ninety (90) days after the occurrence of an event set forth in Section 10.1(a) but that terminated the Company shall not terminate until all continued membership of the Company Assets have been liquidated Member in the Company, agree in writing (A) to continue the Company, and (B) to the proceeds distributed in accordance with admission of the provisions of this Article X. Notwithstanding personal representative or its nominee or designee, as the dissolution case may be, as a substitute member of the Company, prior effective as of the occurrence of the event that terminated the continued membership of the Member of the Company.
(d) Notwithstanding anything to the termination contrary contained in this Section 12, the bankruptcy or insolvency of the Company as aforesaid, Member shall not cause the business Member to cease to be a member of the Company and upon the affairs occurrence of such an event, the Company shall continue without dissolution.
(e) Notwithstanding anything to the contrary contained in this Agreement, to the fullest extent permitted by applicable law, the Member hereby waives any right it might have to agree in writing to dissolve the Company upon the bankruptcy or insolvency of the Members as suchMember, shall continue or the occurrence of an event that causes the Member to cease to be governed by this Agreementa member of the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Comstock Holding Companies, Inc.)