Dissolution of a Member Sample Clauses
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Dissolution of a Member. In the event of the bankruptcy, reorganization, liquidation, winding-up or dissolution of a Member (the "Dissolving Member"), the Dissolving Member shall notify the other Members in writing within five (5) days of such event. The Interests owned by the Dissolving Member shall first be offered for purchase by the other Members within ninety (90) days of the date of such notice for the then existing Adjusted Realized Equity Value of such Interests. In the event that such other Members decline to purchase such additional Interests, such unpurchased Interests may be offered by the Company to third parties for purchase on terms and conditions to be determined by the Members, and the Dissolving Member shall sell its Interests in accordance with the provisions of this Section 9.4.
Dissolution of a Member. Upon the dissolution of a Member, Membership Interests owned by the dissolved entity may be voted by successors in interest, either in person or by proxy without a transfer of such Membership Interests into the name of the successors in interest
Dissolution of a Member. If a member is a corporation, limited liability company, trust, or other entity and is dissolved or terminated, the powers of that member may be exercised by its legal representative or successor.
Dissolution of a Member that is not a natural person shall mean that such Member has terminated its existence, whether partnership or corporate, wound up its affairs and dissolved; provided, however, that a change in the membership of any Member that is a general partnership shall not constitute "Dissolution" hereunder, whether or not the Member is deemed technically dissolved for partnership law purposes, so long as the business of the Member is continued.
Dissolution of a Member. In the event of a filing of voluntary dissolution of a Member or the entry of a court decree of dissolution of a Member, the Company shall have the right (but not the obligation), for thirty (30) days from receipt of notice of filing or entry of decree, to purchase some or all, but not less than all, of the Interest of the Member whose condition or actions gave rise to such court decree, for the price, in the manner, and on the terms and conditions set forth in Section 9.6. If the Company does not purchase such Interest, the remaining Members shall have the concurrent right (but not the obligation) for thirty (30) days, commencing on the earlier of (i) the expiration of the Company's 30-day period to purchase such Interest, or OD receipt of notice from the Company of its decision not to purchase such Interest, to purchase all or the remainder of such Interest for the price, in the manner, and on the terms and conditions set forth in Section 9.6.