SURVIVAL OF POWER. It is expressly intended by each Member that the foregoing power of attorney is coupled with an interest, is irrevocable and shall survive the death, retirement or adjudication of incompetency of such Member. The foregoing power of attorney shall survive the delivery of an assignment by the Member of its entire interest in the Company, except that where an assignee of such entire interest has become a Substitute Member, then the foregoing power of attorney of the assignor Member shall survive the delivery of such assignment for the sole purpose of enabling the Managing Member to execute, acknowledge and file any and all instruments necessary to effectuate such substitution.
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Samples: Limited Liability Company Agreement (World Omni LT), Limited Liability Company Agreement (World Omni Auto Receivables LLC), Limited Liability Company Agreement (World Omni LT)
SURVIVAL OF POWER. It is expressly intended by each Member the Members, that the foregoing power of attorney is coupled with an interest, is irrevocable irrevocable, and shall survive the death, retirement bankruptcy or adjudication dissolution of incompetency of such a Member. The foregoing power of attorney shall survive the delivery of an assignment by the any Member of its such Member's entire interest Interest in the Company, except that where an assignee of such entire interest Interest has become a Substitute Member, then the foregoing power of attorney of the assignor Member shall survive the delivery of such assignment for the sole purpose of enabling the Managing Member those persons designated in Section 8.1 hereof to execute, acknowledge and file any and all instruments necessary to effectuate such substitution.
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Samples: Operating Agreement (Bon-Ton Stores of Lancaster, Inc.)
SURVIVAL OF POWER. It is expressly intended by each Member that the foregoing power of attorney is coupled with an interest, is irrevocable and shall survive the death, retirement dissolution or adjudication of incompetency other termination of such Member. The foregoing power of attorney shall survive the delivery of an assignment by the a Member of its entire interest Membership Interest in the Company, except that where an assignee of such entire interest Membership Interest has become a Substitute Member, then the foregoing power of attorney of the assignor Member shall survive the delivery of such assignment for the sole purpose of enabling the Managing Member Members to execute, acknowledge and file any and all instruments necessary to effectuate such substitution.
Appears in 1 contract
Samples: Operating Agreement (Navtrans International Freight Forwarding Inc)
SURVIVAL OF POWER. It is expressly intended by each Member the Members, that the foregoing power of attorney is coupled with an interest, is irrevocable irrevocable, and shall survive the death, retirement bankruptcy or adjudication dissolution of incompetency of such a Member. The foregoing power of attorney shall survive the delivery of an assignment by the any Member of its such Member’s entire interest Interest in the Company, except that where an assignee of such entire interest Interest has become a Substitute Member, then the foregoing power of attorney of the assignor Member shall survive the delivery of such assignment for the sole purpose of enabling the Managing Member those persons designated in Section 8.1 hereof to execute, acknowledge and file any and all instruments necessary to effectuate such substitution.
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