Termination of a Series. (a) a Series shall be terminated upon any of the following events:
Termination of a Series. A Series shall be terminated upon the occurrence of any of the following events: · Upon dissolution of the Company; · On sale or disposition of all of the Underlying Asset(s) and dissolution of its Subsidiaries; or · At the time in which there are no Series Members in a Series; · Upon the entry of a decree of judicial termination. Other than in connection with a transfer of Membership Interests in accordance with this Agreement, a Series Member shall not take any voluntary action (including, without limitation, resignation) that directly causes it to cease to be a Series Member. The termination and winding up of a Series shall not cause the dissolution of the Company (even if there are no remaining Series so long as the Founder is still a Member); nor shall it cause the termination of any other Series. The termination of a Series shall not affect the limitation on liabilities of such Series or any other Series formed by the Founder as provided in this Agreement and consistent with the Act.
Termination of a Series. (a) The Manager may effectuate the termination of a Series, without the consent of the Members, upon any of the following events:
Termination of a Series. A Series will be dissolved and its affairs will be wound up upon the first to occur of:
Termination of a Series. Any series of interests may be terminated only upon (i) the termination and dissolution of the Partnership, (ii) the vote or written consent of Limited Partners holding a majority of the outstanding Units of such series, or (iii) the sale or other disposition of all or substantially all of the assets of such series. Upon termination of a series, the General Partner shall proceed to wind up the affairs of such series, and the Partnership shall not carry on any business in respect of such series except for the purpose of winding up its affairs.
Termination of a Series. (1) With respect to each Series, a Series shall terminate upon the occurrence of any of the following events: (i) receipt by the Managing Member of a notice setting forth an election to terminate and dissolve a Series at a specified time by the Non-Managing Members holding not less than a “Majority of Interests in a Series” (as defined below), with or without cause, which notice shall be sent by registered mail to the Managing Member not less than 90 days prior to the effective date of such termination and dissolution; (ii) the withdrawal, insolvency, bankruptcy, dissolution or liquidation of the Managing Member (unless a new managing member is elected by a vote of the Non-Managing Members owning a Majority of Interests in the Company, and such new managing member shall have elected to continue the business of the Company and the Series; (iii) the occurrence of any event which shall make it unlawful for the existence of the Company or a Series to be continued; (iv) the occurrence of an event of termination (if any) as provided in a Series Designation; (v) the complete withdrawal by each of the Non-Managing Members from a Series or (vi) a determination by the Managing Member upon 60 days’ notice to the Non-Managing Members to terminate a Series, for any reason. A “
Termination of a Series. Any Series may be terminated by the affirmative vote of at least a majority of the Shares of such Series outstanding or, when authorized by a Series Majority Shareholder Vote, by an instrument in writing signed by a majority of the Trustees. Upon the termination of a Series, the Series shall carry on no business except for the purpose of winding up its affairs, and the Trustees shall proceed to wind up the affairs of the Series, having with respect to such Series all powers contemplated by Section VIII.1 of this Declaration in the event of the termination of the Trust. At any time that there are no Shares outstanding of any particular Series previously established, the Trustees may, by an instrument executed by a majority of their number, abolish the Series.
Termination of a Series. The Trustees shall have the authority to provide that upon the bankruptcy or insolvency of a Holder or in the case of the redemption of the entire interest of a Holder in a Series, that such Series will be terminated unless a majority in interest of the remaining Holders in the Series approve the continuing existence of the Series.
Termination of a Series. Any series of interests may be terminated only upon (i) the termination and dissolution of the Partnership, (ii) the vote or written consent of Limited Partners holding a majority of the outstanding Units of such series, or (iii) the sale or other disposition of all or substantially all of the assets of such series. Upon termination of a series, the General Partner shall proceed to wind up the affairs of such series, and the Partnership shall not carry on any business in respect of such series except for the purpose of winding up its affairs. The termination of a series shall not be deemed a termination or dissolution of the Partnership unless it is the only remaining series. The General Partner shall not have any obligation to contribute cash to the capital of the Partnership pursuant to Section 5.5 of the Partnership Agreement upon the termination of a series unless such series is the only remaining series and such termination constitutes the termination and dissolution of the Partnership.
Termination of a Series. Upon the Disposition of all of the assets of a particular Series and the completion of the corresponding distributions to Members of such Series made pursuant to paragraph 4.7 hereof, each Member of such Series shall be deemed to have taken such actions necessary to resign their membership in such Series pursuant to paragraph 6.4, and the Manager shall take such actions necessary to terminate such Series.
