Dissolution of Company. (a) The Company shall be dissolved, wound up and terminated as provided herein upon the first to occur of the following:
(i) a decree of dissolution of the Court of Chancery of the State of Delaware pursuant to Section 18-802 of the Act;
(ii) the occurrence of any other event that would make it unlawful for the business of the Company to be continued; or
(iii) the written consent of each Member. Except as expressly provided herein or as otherwise required by the Act, the Members shall have no power to dissolve the Company.
(b) In the event of the dissolution of the Company for any reason, the Manager or any liquidating agent or committee appointed by the Manager upon reasonable arms length transaction terms shall act as a liquidating agent (such liquidating agent or committee, in such capacity, is hereinafter referred to as the “Liquidator”) and shall commence to wind up the affairs of the Company and to liquidate the Company assets. The Members shall continue to share all income, losses and distributions during the period of liquidation in accordance with Articles 4 and 5. The Liquidator shall have reasonable discretion to determine the time, manner and terms of any sale or sales of Company assets pursuant to such liquidation, giving due regard to the activity and condition of the relevant market and general financial and economic conditions.
(c) The Liquidator shall have all of the rights and powers with respect to the assets and liabilities of the Company in connection with the liquidation and termination of the Company that the Manager would have with respect to the assets and liabilities of the Company during the term of the Company, and the Liquidator is hereby expressly authorized and empowered to execute any and all documents necessary or desirable to effectuate the liquidation and termination of the Company and the transfer of any Company assets.
(d) Notwithstanding the foregoing, a Liquidator which is not a Member shall not be deemed a Member and shall not have any of the economic interests in the Company of a Member; and such Liquidator shall be compensated for its services to the Company at normal, customary and competitive rates for its services to the Company, as reasonably determined by the Manager.
Dissolution of Company. The Company shall, subject to the SEC’s approval, dissolve and its assets and business shall be wound up upon the occurrence of any of the following events:
(a) unanimous written consent of the Participants to dissolve the Company;
(b) an event that makes it unlawful or impossible for the Company business to be continued;
(c) the termination of one or more Participants such that there is only one remaining Participant; or
(d) the entry of a decree of judicial dissolution under Section 18-802 of the Delaware Act.
Dissolution of Company. The Company shall be dissolved by (i) a resolution adopted by a majority of the Directors followed by notice of dissolution to the Holders of the Interests in the Company, (ii) the termination of the legal existence of the last remaining member of the Company or the occurrence of any other event which terminates the continued membership of the last remaining member of the Company in the Company unless the Company is continued without dissolution in a manner permitted by the Act, or (iii) a decree of judicial dissolution under Section 18-802 of the Act.
Dissolution of Company. In the event of the dissolution or total or partial liquidation of the Company, whether voluntary or involuntary, the Trustees shall receive the moneys, securities, rights or property to which the holders of shares of the Company deposited hereunder are entitled and shall distribute the same among the registered holders of the Trust Certificates in proportion to their interests as shown by the Trustees’ books, or the Trustees may in their discretion deposit the same with any bank or trust company doing business in Cleveland, Ohio, with instructions to distribute the same as above provided, and upon such deposit all further obligations or liabilities of the Trustees in respect of the moneys, securities, rights or property so deposited shall cease.
Dissolution of Company. The Member, in the Member’s sole and absolute discretion, may determine whether and when to dissolve the Company. The Company shall be dissolved immediately upon the Member’s deciding to dissolve it.
Dissolution of Company. Company shall be dissolved upon the occurrence of any of the following events:
(a) the written agreement of the Members holding a majority of the Units held by all Members; or
(b) the written consent of all of the Manager(s); or
(c) the sale of all or substantially all of the Property or other conversion of all or substantially all of the Property to cash. Notwithstanding anything to the contrary contained herein or in the Act, the Withdrawal of any Member shall not cause Company to be dissolved.
Dissolution of Company. In the event of the dissolution or total or partial liquidation of the Company, whether voluntary or involuntary, the Trustee shall receive the moneys, securities, rights, or property to which the holders of the Company's capital stock deposited hereunder are entitled, and shall distribute the same among the registered holders of Trust Interests in proportion to their interests, as shown by the books of the Trustee. Alternatively, the Trustee may in his discretion deposit such moneys, securities, rights, or property with any Federally insured bank or trust company doing business in Boulder, Colorado, with authority and instructions to distribute the same as above provided, and upon such deposit all further obligations or liabilities of the Trustee in respect of such moneys, securities, rights, or property so deposited shall cease.
Dissolution of Company. The Company shall be dissolved and its affairs wound up upon the happening of any of the following events:
(a) The written agreement of all of the Members to dissolve the Company;
(b) The occurrence of any event that makes it unlawful, impossible or impractical to carry on the Business for a period of more than six (6) months;
(c) Entry of a judicial decree of dissolution pursuant to Section 18-802 of the Act;
(d) The sale of all or substantially all of the Company’s assets unless such sale involves any deferred payment of the consideration for the sale, in which case the Company shall not dissolve until the last day of the calendar year during which the Company receives the balance of the deferred payment; or
(e) At the time there are no Members unless the Company is continued without dissolution in accordance with the Act.
Dissolution of Company. 21.01. The Company shall be dissolved, its assets shall be disposed of, and its affairs shall be wound up on the first to occur of the following events:
(a) Unanimous determination by all of the Members that the Company should be dissolved.
(b) The expiration of the Company term as stated in the Articles, if any.
(c) On the dissolution, bankruptcy, resignation, or expulsion of any Member unless at least fifty percent (50%) of the remaining Members consent to continue the Company within ninety (90) days of the dissolution event.
(d) At any earlier time as may be provided by applicable law.
Dissolution of Company. 19 Section 10.3.
