Incapacity or Dissolution. The death or incapacity of a Member, or the Transfer of all of his interest in the Company to anyone that is not a Member, shall not cause a dissolution of the Company, but the rights of such Member to share in the Profits and Losses of the Company, to receive distributions of Company funds and to assign an interest pursuant to Article VIII hereof shall, on the happening of such an event, devolve on his or its successor-in-interest, if any, and the Company shall continue as a limited liability company under the Act.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Walgreens Boots Alliance, Inc.), Limited Liability Company Agreement (Walgreens Boots Alliance, Inc.), Limited Liability Company Agreement (Walgreens Boots Alliance, Inc.)
Incapacity or Dissolution. The death death, incapacity, dissolution or incapacity bankruptcy of a Member, or the Transfer transfer of all of his his, her or its interest in the Company to anyone that is not a Member, shall not cause a dissolution of the Company, but the rights of such Member to share in the Profits and Losses of the Company, to receive distributions of Company funds and to assign an interest pursuant to Article VIII VII hereof shall, on the happening of such an event, devolve on his his, her or its successor-in-interest, if any, and the Company shall continue as a limited liability company under the Act.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Dolan Media CO), Operating Agreement (Dolan Media CO)
Incapacity or Dissolution. The death death, incapacity, dissolution or incapacity bankruptcy of a Member, or the Transfer transfer of all of his interest in the Company to anyone that is not a Member, shall not cause a dissolution of the Company, but the rights of such Member to share in the Profits and Losses of the Company, to receive distributions of Company funds and to assign an interest pursuant to Article VIII VII hereof shall, on the happening of such an event, devolve on his or its successor-in-interest, if any, and the Company shall continue as a limited liability company under the Act.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Nord Anglia Education, Inc.), Transaction Agreement (Nord Anglia Education, Inc.)
Incapacity or Dissolution. The death death, incapacity, dissolution or incapacity Bankruptcy of a Member, or the Transfer transfer of all of its or his interest in the Company to anyone that is not a Member, shall not cause a dissolution of the Company, but the rights of such Member to share in the Profits profits and Losses losses of the Company, to receive distributions of Company funds and to assign an interest shall be determined pursuant to Article VIII hereof shall, on the happening of such an event, devolve on his or its successor-in-interest, if anyVII, and the Company shall continue as a limited liability company under the Act.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Adeptus Health Inc.), Limited Liability Company Agreement (Adeptus Health Inc.)
Incapacity or Dissolution. The death death, incapacity, dissolution or incapacity bankruptcy of a Member, or the Transfer of all of his his, her or its interest in the Company to anyone that is not a Member, shall not cause a dissolution of the Company, but the rights of such Member to share in the Profits and Losses of the Company, to receive distributions of Company funds and to assign an interest pursuant to Article VIII VII hereof shall, on the happening of such an event, devolve on his or its successor-in-interest, if any, and the Company shall continue as a limited liability company under the Act.
Appears in 1 contract
Samples: Limited Liability Company Agreement
