Continuation of the LLC. To the extent permitted by applicable law, the Shareholders may continue the business of the LLC upon the occurrence of any event which constitutes an event of dissolution of an LLC under the Act by electing to do so within ninety (90) days after the occurrence of any of such event. Any such election shall be made by Shareholders whose capital contributions to the LLC represent at least a majority of the capital contributions made by all Shareholders.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Enstar Finance LLC)
Continuation of the LLC. To the extent permitted by applicable law, the Shareholders The Members may continue the business of the LLC upon the occurrence of any event which constitutes an event of dissolution of an LLC under the Act by electing to do so within ninety (90) 90 days after the occurrence of any of such event. Any such election shall be made by Shareholders whose capital contributions to the LLC represent at least a majority Members by action of the capital contributions made by all Shareholdersholders of 100% in of the Beneficial Interest.
Appears in 1 contract
Sources: Operating Agreement
Continuation of the LLC. To the extent permitted by applicable law, the Shareholders Members may continue the business of the LLC upon the occurrence of any event which constitutes an event of dissolution of an LLC under the Act by electing to do so within ninety (90) 90 days after the occurrence of any of such event. Any such election shall be made by Shareholders Members whose capital contributions to the LLC represent at least a majority of the capital contributions made by all ShareholdersMembers.
Appears in 1 contract
Sources: Limited Liability Company Agreement (New England Electric System)