Election to Continue Company Sample Clauses

Election to Continue Company. An event set forth in Section 14A(4) shall not result in the dissolution, winding up and termination of the Company if, within ninety (90) days after the occurrence of that event, the remaining Members elect by unanimous written consent to continue the Company.
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Election to Continue Company. Notwithstanding the provisions of Section 6.5(a), if after the occurrence of an Event of Withdrawal of a Managing Member, at least a Majority in Interest of the remaining Managing Members agree within ninety (90) days after the occurrence of such Event of Withdrawal to continue the Company, then the Company shall not be dissolved, but shall be continued. Upon the occurrence of an Event of Withdrawal of the last remaining Managing Member, a Majority in Interest of the remaining Members within ninety (90) days after the occurrence of such Event of Withdrawal, may elect to continue the business of the Company and designate a new Managing Member ("Substituted Managing Member") who consents to and accepts such designation as of the date of such Event. If a Substituted Managing Member is appointed the Member shall own the Member's Interest on the terms and conditions set forth herein with respect to a Managing Member. Should at least a Majority in Interest of the remaining Members not elect to appoint a Substituted Managing Member and continue the business, then the Company's business shall be wound up and the Company shall be liquidated pursuant to the provisions of Article IX.
Sample 1
Election to Continue Company. Upon the occurrence of an Event of Withdrawal of the last remaining Managing Member, a Majority in Interest of the remaining Members within ninety (90) days after the occurrence of such Event of Withdrawal, may elect to continue the Company and designate a new Managing Member(s) ("Substituted Managing Member") who consents to and accepts such designation as of the date of such event. If a Substituted Managing Member is appointed, such Substituted Managing Member's Interest shall be owned on the terms and conditions set forth herein with respect to a Managing Member. Should at least a Majority in Interest of the remaining Members not elect to appoint a Substituted Managing Member and continue the Company, then the Company's business shall be wound up and the Company shall be liquidated pursuant to the provisions of Article IX.
Sample 1

Related to Election to Continue Company

  • No Obligation to Continue Service This Agreement is not an agreement of consultancy. This Agreement does not guarantee that the Company or its affiliates will retain, or continue to retain, the Participant during the entire, or any portion of the, term of this Agreement, including but not limited to any period during which the Restricted Units are outstanding, nor does it modify in any respect the Company or its affiliate’s right to terminate or modify the Participant’s consultancy or compensation.

  • No Obligation to Continue Employment Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Grantee in employment and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the employment of the Grantee at any time.

  • No Right to Continue Service or Employment Nothing herein shall be construed to confer upon the Participant the right to continue in the employ or to provide services to the Company or any Subsidiary, whether as an Employee or as a Contractor or as an Outside Director, or interfere with or restrict in any way the right of the Company or any Subsidiary to discharge the Participant as an Employee, Contractor, or Outside Director at any time.

  • No Obligation to Continue Service Relationship Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this Award Agreement to continue the Grantee in employment or other service relationship and neither the Plan nor this Award Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the employment or other service relationship of the Grantee at any time.

  • RIGHT TO CONTINUED EMPLOYMENT Nothing in the Plan or this Agreement shall confer on you any right to continue in the employ of the Company or any subsidiary or affiliate of the Company or any specific position or level of employment with the Company or any subsidiary or affiliate of the Company or affect in any way the right of the Employer to terminate your employment without prior notice at any time for any reason or no reason.

  • No Right to Continue Employment This Agreement shall not confer upon Holder any right with respect to continuance of employment with a Participating Company nor shall it interfere in any way with the right of a Participating Company to terminate the Holder’s employment at any time.

  • Performance to Continue Each party shall continue to perform its obligations under this Agreement pending final resolution of any dispute arising out or relating to this Agreement; provided, however, that a party may suspend performance of its obligations during any period in which the other party fails or refuses to perform its obligations.

  • No Right to Continued Retention Neither the establishment of the Plan nor the Award hereunder shall be construed as giving Recipient the right to continued service with the Company or an Affiliate.

  • No Right to Continued Service Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an Employee, Consultant or Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee’s Continuous Service at any time, with or without Cause.

  • COMPENSATION TO CONSULTANT The Consultant's compensation for the Consulting Services shall be as set forth in Exhibit B attached hereto and incorporated herein by this reference.

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