Common use of Dissolution Event Clause in Contracts

Dissolution Event. Upon the occurrence of the death, withdrawal, resignation, expulsion, bankruptcy or dissolution of any Member (“Dissolution Event”), the Company shall dissolve unless the Remaining Members who hold a majority of Remaining Membership Interest agree within ninety (90) days to continue the business of the Company. The Company and/or the Remaining Members may purchase the Former Member’s Membership Interest as provided in this Article.

Appears in 38 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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