Common use of Dissolution and Cancellation Clause in Contracts

Dissolution and Cancellation. The Company may be dissolved only upon the earlier of the following: (a) expiration of the Company's term or (b) a decision in writing by at least two-thirds of the members to dissolve the Company; or (c) as otherwise provided in the Act. After the Company has completed winding up its affairs and upon the filing with the State of Delaware of a Certificate of Cancellation the Company shall cease to carry on its business.

Appears in 8 contracts

Sources: Operating Agreement (Great Plains Energy Inc), Operating Agreement (Entergy Arkansas Inc), Operating Agreement (Dominion Resources Inc /Va/)

Dissolution and Cancellation. The Company may be dissolved only upon the earlier of the following: (a) expiration of the Company's ’s term or (b) a decision in writing by at least two-thirds of the members to dissolve the Company; or (c) as otherwise provided in the Act. After the Company has completed winding up its affairs and upon the filing with the State of Delaware of a Certificate of Cancellation the Company shall cease to carry on its business.

Appears in 1 contract

Sources: Operating Agreement (Xcel Energy Inc)