Common use of Events That Trigger Dissolution of the LLC Clause in Contracts

Events That Trigger Dissolution of the LLC. The following events shall trigger dissolution of the LLC, except as provided: (a) the death, permanent incapacity, bankruptcy, retirement, resignation or expulsion of a member, except that within of the happening of any of these events, all remaining members of the LLC may vote to continue the legal existence of the LLC, in which case the LLC shall not dissolve; (b) the expiration of the term of existence of the LLC if such term is specified in the Articles of Organization, Certificate of Formation or a similar organizational document, or this operating agreement; (c) the written agreement of all members to dissolve the LLC; (d) entry of a decree of dissolution of the LLC under state law.

Events That Trigger Dissolution of the LLC. The following events shall trigger dissolution of the LLC, except as provided: (a) the death, permanent incapacity, bankruptcy, retirement, resignation or expulsion of a member, except that within ____________ of the happening of any of these events, all remaining members of the LLC may vote to continue the legal existence of the LLC, in which case the LLC shall not dissolve; (b) the expiration of the term of existence of the LLC if such term is specified in the Articles of Organization, Certificate of Formation or a similar organizational document, or this operating agreement; (c) the written agreement of all members to dissolve the LLC; (d) entry of a decree of dissolution of the LLC under state law.

Events That Trigger Dissolution of the LLC. The following events shall trigger a dissolution of the LLC, except as provided: (a) the death, permanent incapacity, bankruptcy, retirement, resignation resignation, or expulsion of a member, except that within 30 days of the happening of any of these events, all remaining members of the LLC may vote to continue the legal existence of the LLC, in which case the LLC shall not dissolve; (b) the expiration of the term of existence of the LLC if such term is specified in the Articles articles of Organizationorganization, Certificate certificate of Formation formation, or a similar organizational document, or this operating agreement; (c) the written agreement of all members to dissolve the LLC; (d) entry of a decree of dissolution of the LLC under state law.

Events That Trigger Dissolution of the LLC. The following events shall trigger dissolution of the LLC, except as provided: (a) the death, permanent incapacity, bankruptcy, retirement, resignation or expulsion of a member, except that within 120 days of the happening of any of these events, all remaining members of the LLC may vote to continue the legal existence of the LLC, in which case the LLC shall not dissolve; (b) the expiration of the term of existence of the LLC if such term is specified in the Articles of Organization, Certificate of Formation or a similar organizational document, or this operating agreement; (c) the written agreement of all members to dissolve the LLC; (d) entry of a decree of dissolution of the LLC under state law.