Common use of Termination of a Series Clause in Contracts

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 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.