Common use of Events Affecting a Member Clause in Contracts

Events Affecting a Member. Except as required by the Act, the death, bankruptcy, withdrawal, insanity, incompetency, temporary or permanent incapacity, retirement, resignation, expulsion, liquidation, dissolution, reorganization, merger, sale of all or substantially all the stock or assets of, or other change in the ownership or nature of a Member shall not, in and of itself, dissolve the Company.

Appears in 11 contracts

Sources: Operating Agreement, Operating Agreement, Operating Agreement