Dissolution Triggers. The Company shall dissolve only upon the first to occur of any of the following events:
(a) Upon determination by the Member to dissolve the Company.
(b) The entry of a decree of administrative dissolution under the Act.
Dissolution Triggers. The LLC shall dissolve only upon the first to occur of any of the following events:
(a) Upon the delivery for filing with the Secretary of State of a Statement of Commencement of Winding Up of the LLC pursuant to Act Section 14-10-000.
(b) The entry of a decree of judicial dissolution under Act Section 14-11-603(a).
Dissolution Triggers. The LLC shall dissolve upon the first occurrence of the following events:
(a) The determination by all the Managers serving on the Board that the LLC should be dissolved; or
(b) The entry of a decree of judicial dissolution or the administrative dissolution of the LLC as provided in the Act.
Dissolution Triggers. The Company shall dissolve upon the first occurrence of the following events:
(i) The determination by a Unitholder Majority that the Company should be dissolved (subject to obtaining all other approvals required pursuant to Section 4 hereof); or
(ii) The entry of a decree of judicial dissolution or the administrative dissolution of the Company as provided in the Delaware Act.
Dissolution Triggers. The Company shall dissolve only upon the first to occur of any of the following events:
(a) Upon the delivery for filing with the Secretary of State of the State of South Carolina Articles of Termination of the Company pursuant to Section 00-00-000 of the Act following the determination by the Member to dissolve the Company.
(b) The entry of a decree of administrative dissolution under Section 00-00-000 of the Act.
Dissolution Triggers. The Partnership shall dissolve only upon the first to occur of any of the following events:
(a) The vote of the General Partner and a majority in interest of the Limited Partners.
(b) The entry of a decree of judicial dissolution or the administrative dissolution of the Partnership as provided in the Act (unless remedied).
(c) The failure to elect a new General Partner pursuant to Section 5.1 withing ninety (90) days after the sole remaining General Partner has ceased to be a General Partner. None of the other events set forth in the Act shall cause the dissolution of the Partnership.
Dissolution Triggers. The LLC shall dissolve only upon the first to occur of any of the following events:
(a) December 31, 2099;
(b) The unanimous vote of the Board;
(c) The entry of a decree of judicial dissolution or the administrative dissolution of the LLC as provided in the Act; or
(d) The sale of all or substantially all of the assets of the LLC.
Dissolution Triggers. During the term of the Agreement, the following will be triggers for termination of the lease and/or transfer of membership in Newco back to the District:
a. Loss of Critical Access Status of Newco;
b. Loss of Swing Bed Status for Newco’s inpatient hospital beds;
c. Material change (to be defined) to any CAH based reimbursement, including CAH swing bed reimbursement;
d. Imposition by CMS or other governmental/administrative authority of a material (to be defined) repayment obligation based on SVH operations prior to the effective date of the transaction;
e. District’s failure to fund the Trust;
f. District’s default on any of its bond obligations;
g. Failure of OMC to make timely lease payments; and
h. Either party’s material failure to support and act in alignment with the intent and goals of the Transaction, or either party’s actions to disparage or otherwise actively interfere with the stated goals and intent of the parties to the Transaction, following a mutually agreed dispute resolution process.
Dissolution Triggers. The LLC shall dissolve only upon the first to occur of any of the following events:
(a) The vote of the Members following the recommendation of dissolution by the Manager.
(b) The entry of a decree of judicial dissolution under Act Section 18-802.
(c) The sale or other disposition of all or substantially all of the assets of the LLC in accordance with this Agreement.
(d) At any time after the sixth (6th) anniversary of the date hereof, if at such time the Class A Capital is equal to or greater than $7.5 million and holders of at least a majority of Class A Units then outstanding vote to dissolve the LLC and provide notice of such vote to the Manager; provided, however, that in the event that such a vote and resulting dissolution of the LLC would result in an event of default or an incipient default under any then existing indebtedness of the LLC or any Subsidiary with an outstanding balance of $10 million or more, then such majority vote shall not cause the dissolution of the LLC, but rather shall constitute notice by the holders of the Class A Units to the Manager that such holders desire that the Manager promptly arrange the sale of the LLC (including its Subsidiaries) or a sale of all or substantially all of its assets.
Dissolution Triggers. 27 SECTION 9.2
