Common use of Member Dissociation and Successors Clause in Contracts

Member Dissociation and Successors. Except as otherwise provided in this Agreement, the death, retirement, resignation, expulsion, bankruptcy, dissolution or dissociation of a member or any other event affecting a member, including, without limitation, a sole member, does not terminate the status of the person as a member or cause the limited-liability company to be dissolved or its affairs to be wound up. Upon the occurrence of such an event, the business of the Company shall be continued by such member’s successor, and such successor may admit additional members and amend this Agreement.

Member Dissociation and Successors. Except as otherwise provided in this Agreement, the death, retirement, resignation, expulsion, bankruptcy, dissolution or dissociation of a member or any other event affecting a member, including, without limitation, a sole member, does not terminate the status of the person as a member or cause the limited-liability company Company to be dissolved or its affairs to be wound up. Upon the occurrence of such an event, the business of the Company shall be continued by such member’s 's successor, and such successor may admit additional members and amend this Agreement.

Member Dissociation and Successors. Except as otherwise provided in this Agreement, the death, retirement, resignation, expulsion, bankruptcy, dissolution or dissociation of a member or any other event affecting a member, including, without limitation, a sole member, does not terminate the status of the person as a member or cause the limited-liability company to be dissolved or its affairs to be wound up. Upon the occurrence of such an event, the business of the Company shall be he continued by such member’s successor, and such successor may admit additional members and amend this Agreement.