Common use of Not the Last Manager Clause in Contracts

Not the Last Manager. In the event of the death, incapacity, adjudication of incompetency, bankruptcy, dissolution, liquidation, retirement, resignation, withdrawal or removal of a Manager (a “Disabling Event”) who is not the last remaining Manager (the “Withdrawing Manager”), the Fund may be continued with the consent of the remaining Managers or Manager pursuant to the terms and conditions of this Agreement.

Not the Last Manager. In the event of the death, incapacity, adjudication of incompetency, bankruptcy, dissolution, liquidation, retirement, resignation, withdrawal or removal of a Manager (a “Disabling Event”) who is not the last remaining Manager (the “Withdrawing Manager”), the Fund Company may be continued with the consent of the remaining Managers or Manager pursuant to the terms and conditions of this Agreement.