Dissolution or Bankruptcy of a Member. 11.1 Dissolution or Merger. If Woodfield shall be dissolved, or merged with or consolidated into another corporation or other entity, or if all or substantially all of its assets shall be sold, or transferred, then unless such dissolution, merger, consolidation, sale or transfer is expressly permitted under Article 10, such dissolution, merger, consolidation, sale or transfer shall, at CNL’s election, be a dissolution of the Company, and CNL shall be the “Liquidating Member” in the dissolution of the Company. If CNL shall be dissolved, or merged with or consolidated into another corporation or other entity, or if all or substantially all of its assets shall be sold, or transferred, then unless such dissolution, merger, consolidation, sale or transfer is expressly permitted under Article 10, such dissolution, merger, consolidation, sale or transfer shall, at Woodfield’s election, be a dissolution of the Company, and Woodfield shall be the “Liquidating Member” in the dissolution of the Company.
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Sources: Limited Liability Company Agreement (Global Growth Trust, Inc.), Limited Liability Company Agreement (Global Growth Trust, Inc.)