Event of Dissociation Sample Clauses

Event of Dissociation. The Company shall not be dissolved upon the occurrence of an event of dissociation as described in Section 183.0802 of the Act, and upon such event, the Members shall not be required to consent to the continuation of the Company. SECTION THIRTEEN
Sample 1
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Event of Dissociation. For purpose of this Agreement, an “Event of Dissociation” with respect to a Member means the first to occur of (i) those events that are defined herein as an Involuntary Withdrawal; or (ii) those events that are defined herein as a Voluntary Withdrawal, unless otherwise waived in writing by the Board. The Member with respect to whom an Event of Dissociation occurs is sometimes referred to in this Agreement as a “Withdrawing Member.” Except as otherwise set forth in this Section 14.1, upon the occurrence of any Event of Dissociation, the Withdrawing Member shall immediately cease to be a Member of the Company. An Event of Dissociation shall constitute and operate without more, as a full and complete release of all claims by such Withdrawing Member and all others claiming in such Withdrawing Member’s right, against the Company, its Members, assets, and distributable income, except as respects the amounts payable to such Member under Section 14.2 below.
Sample 1
Event of Dissociation. As to all Members: when a Member makes an assignment for the benefit of creditors; files a voluntary petition in bankruptcy; is adjudged a bankrupt or insolvent or has entered against such Member an order for relief in any bankruptcy or insolvency proceeding; files a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief; files an answer or other pleading failing to contest the material allegations in any bankruptcy or insolvency proceeding; or seeks or consents to the appointment of a receiver or trustee or liquidator of all or any part of the Member’s property. As to a Member who is a natural person, the Member’s death or adjudication of incompetency. As to a Member who is an entity, the termination, dissolution or cessation of business of the Member.
Sample 1
Event of Dissociation. An Event of Dissociation as to a Member means the occurrence of any of the following events:
Sample 1

Related to Event of Dissociation

  • Dissociation A Person shall cease to be a Member upon the happening of any of the following events:

  • Events of Dissolution The Company shall be dissolved upon the happening of any of the following events:

  • Dissolution Event If there is a Dissolution Event before the termination of this Safe, the Investor will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds equal to the Cash-Out Amount, due and payable to the Investor immediately prior to the consummation of the Dissolution Event.

  • Articles of Dissolution Upon the dissolution and commencement of the winding up of the Company, the Member shall cause Articles of Dissolution to be executed on behalf of the Company and filed with the Secretary of State, and the Member shall execute, acknowledge and file any and all other instruments necessary or appropriate to reflect the dissolution of the Company.

  • Dissolution Events The Company will be dissolved upon the happening of any of the following events:

  • Certificate of Dissolution After the affairs of the Company have been wound up and the Company terminated, a certificate of dissolution shall be executed and filed in the office of the Delaware Secretary of State.

  • Remedies Upon Event of Default, Fundamental Transaction and Change of Control Transaction If any Event of Default or a Fundamental Transaction or a Change of Control Transaction occurs, the outstanding principal amount of this Note, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election, immediately due and payable in cash at the Mandatory Default Amount. Commencing on the Maturity Date and also five (5) days after the occurrence of any Event of Default interest on this Note shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. Upon the payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Note to or as directed by Bxxxxxxx. In connection with such acceleration described herein, the Holder need not provide, and Borrower hereby waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by Hxxxxx at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Note until such time, if any, as the Holder receives full payment pursuant to this Section 7(b). No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.

  • Actions following an Event of Default On, or at any time after, the occurrence of an Event of Default:

  • Notification of Event of Default Borrower shall notify Agent immediately of the occurrence of any Event of Default.

  • Events Causing Dissolution Subject to Section 9.2, the Company shall be dissolved upon the first of the following events to occur:

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