Common use of Dissolution Upon Event of Default Clause in Contracts

Dissolution Upon Event of Default. During the occurrence and continuation of an Event of Default (other than a Bankruptcy Event) with respect to a Shareholder, the Nondefaulting Shareholder may elect, by written notice to the Defaulting Shareholder, to dissolve the Company, in which event the Company shall be dissolved and the Shareholders shall take all actions necessary to wind up the affairs of the Company in accordance with Section 11.7 (Winding Up). This Section 11.3 shall not be construed to limit the rights of the Nondefaulting Shareholder under Section 10.4 (Remedies Upon Event of Default) or to seek damages from the Defaulting Shareholder or any other Person for the breach of its obligations under any of the FA Operative Documents.

Dissolution Upon Event of Default. During the occurrence and continuation of an Event of Default (other than a Bankruptcy Event) with respect to a ShareholderUnitholder, the Nondefaulting Shareholder Unitholder may elect, by written notice to the Defaulting ShareholderUnitholder, to dissolve the Company, in which event the Company shall be dissolved and the Shareholders Unitholders shall take all actions necessary to wind up the affairs of the Company in accordance with Section 11.7 (Winding Up). This Section 11.3 shall not be construed to limit the rights of the Nondefaulting Shareholder Unitholder under Section 10.4 (Remedies Upon Event of Default) or to seek damages from the Defaulting Shareholder Unitholder or any other Person for the breach of its obligations under any of the FA FP Operative Documents.

Dissolution Upon Event of Default. During the occurrence and continuation of an Event of Default (other than a Bankruptcy Event) with respect to a ShareholderUnitholder, the Nondefaulting Shareholder Unitholder may elect, by written notice to the Defaulting ShareholderUnitholder, to dissolve the Company, in which event the Company shall be dissolved and the Shareholders Unitholders shall take all actions necessary to wind up the affairs of the Company in accordance with Section 11.7 11.06 (Winding Up). This Section 11.3 11.03 shall not be construed to limit the rights of the Nondefaulting Shareholder Unitholder under Section 10.4 10.05 (Remedies Upon Event of Default) or to seek damages from the Defaulting Shareholder Unitholder or any other Person for the breach of its obligations under any of the FA Operative Documents.