Failure to Reform. In the event the Board of Managers is unable to formulate a plan to revise, reform and restructure this Agreement and the operations of the Company and/or the Hospital in order to fully comply with all applicable laws or the reformation plan fails to receive the necessary affirmative vote of the Members, the Board of Managers shall, at its sole discretion, either carry out its rights and obligations under Section 15.4 of this Agreement or cause the Company to dissolve under Article XVI of this Agreement.
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Samples: Operating Agreement (Viking Energy Group, Inc.), Operating Agreement (Viking Energy Group, Inc.), Operating Agreement (Viking Energy Group, Inc.)
Failure to Reform. In the event the Board of Managers is unable to formulate a plan to revise, reform and restructure this Agreement and the operations of the Company and/or the Hospital Surgery Center in order to fully comply with all applicable laws or the reformation plan fails to receive the necessary affirmative vote of the Members, the Board of Managers shall, at its sole discretion, either carry out its rights and obligations under Section 15.4 of this Agreement or cause the Company to dissolve under Article XVI of this Agreement.
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