SURVIVAL OF POWER. It is expressly intended by each of the Members that the foregoing power of attorney is coupled with an interest, is irrevocable and shall survive the death, incompetence, dissolution, liquidation or adjudication of insanity or bankruptcy or insolvency of each such Member. The foregoing power of attorney shall survive the delivery of an assignment by any of the Members of such Member’s 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 Manager to execute, acknowledge and file any and all instruments necessary to effectuate such substitution.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Ashford Inc.), Limited Liability Company Agreement (Ashford Inc.), Limited Liability Company Agreement (Ashford Inc)
