Common use of Disability of a Member Clause in Contracts

Disability of a Member. 15.1 The disability of a Member shall not result in the dissolution of the Company. A Managing Member who becomes disabled (i.e. unable to carry on his or her duties as Manager due to a medically diagnosed illness or condition) shall be replaced by majority vote in interest of the remaining Members. Alternatively, the position of the disabled Managing Member may be left vacant if so determined by majority vote in interest of the remaining Members.

Appears in 2 contracts

Sources: Operating Agreement, Operating Agreement