Common use of TERM AND TERMINATION OF THE COMPANY Clause in Contracts

TERM AND TERMINATION OF THE COMPANY. The term of the Company shall continue until the seventh anniversary of the Final Closing Date, unless such term is extended or unless the Company is sooner dissolved, each as provided in this 7.1, or by operation of law. The term of the Company may be extended for two successive one-year periods by the Board upon written notice to the Members at least 90 days prior to the expiration of the term or the end of the first one-year period, as the case may be. Thereafter, upon the request of the Board and the approval of a majority-in-interest of the Members, the term of the Company may be further extended. The Company shall be dissolved (i) upon the expiration of its term (as such term may be extended pursuant to this Agreement), (ii) at any time upon a decision of the Board, (iii) if there are no Members of the Company, unless the business of the Company is continued in accordance with this Agreement or the Delaware Act, or (iv) upon the entry of a decree of judicial dissolution under the Delaware Act.

TERM AND TERMINATION OF THE COMPANY. The term of the Company shall continue until the seventh fifth anniversary of the Final Closing Dateexpiry of the Investment Period, unless such term is extended or unless the Company is sooner dissolved, each as provided in this 7.1, or by operation of law. The term of the Company may be extended for two successive one-year periods by the Board upon written notice to the Members at least 90 days prior to the expiration of the term or the end of the first one-year period, as the case may be. Thereafter, upon the request of the Board and the approval of a majority-in-interest of the Members, the term of the Company may be further extended. The Company shall be dissolved (i) upon the expiration of its term (as such term may be extended pursuant to this Agreement), (ii) at any time upon a decision of the Board, (iii) if there are no Members of the Company, unless the business of the Company is continued in accordance with this Agreement or the Delaware Act, or (iv) upon the entry of a decree of judicial dissolution under the Delaware Act.