Effect of Dissolution Event. Upon the occurrence of a Dissolution Event, the Company shall cease to carry on its business, except insofar as may be necessary for the winding up of its business but its separate existence shall continue for the purpose of winding up its affairs, prosecuting or defending actions by or against it in order to collect and discharge obligations, disposing of and conveying its property, and collecting and dividing its assets.
Appears in 3 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (United Realty Trust Inc), Limited Liability Company Agreement (American Realty Capital New York Recovery Reit Inc)
Effect of Dissolution Event. Upon the occurrence of a Dissolution Event, the Company shall cease to carry on its business, except insofar as may be necessary for the winding to wind up of its business but its separate existence shall continue for the purpose of winding up its affairs, prosecuting or defending actions by or against it in order to collect and discharge obligations, disposing of and conveying its property, and collecting and dividing its assets.
Appears in 1 contract
Samples: Operating Agreement (Owens Mortgage Investment Fund a Calif LTD Partnership)
