Events Requiring Winding Up Sample Clauses

Events Requiring Winding Up. (a) The Company shall be wound up upon the first to occur of the following: (i) the written consent of the Members, (ii) the retirement, resignation of dissolution of the Members, or the occurrence of any other event which terminates the continued membership of the Members, in the Company unless the business of the Company is continued in a manner permitted by the Act, or (iii) the entry of a decree by a court requiring the winding up or dissolution of the Company under the Act. (b) The bankruptcy of the Member or any future member will not cause such member to cease to be a member of the Company and upon the occurrence of such an event, the business of the Company shall continue without dissolution. (c) On the occurrence of an event requiring winding up, the Company shall conduct only such activities as are necessary to wind up its affairs (including the sale of the assets of the Company in an orderly manner), and the assets of the Company shall be applied in the manner, and in the order of priority, set forth the Act.

Events Requiring Winding Up. The affairs of the Company shall be wound up as the Member may elect or as may be required under the Company Law. No other event will cause the Company to wind up.

Events Requiring Winding Up. The Company shall be wound up only on the first to occur of any one or more of the following: (a) the affirmative vote or Written consent of all of the Members; (b) the occurrence of any event that terminates the continued membership of the last remaining Member in the Company unless the legal representative or successor of the Member agrees to continue the Company and appoints a successor Member in accordance with the BOC; (c) entry of a judicial order to wind up the Company; or (d) the involuntary termination of the Company under the BOC or Texas Tax Code, unless the Company is reinstated as provided by law.

Events Requiring Winding Up. The Company shall be wound up upon the occurrence of any of the following events: (a) Unanimous written consent of the Members; or (b) The consent of a majority in number of the remaining Members to wind up the Company within ninety (90) days after the Company is wound up in accordance with the Texas Act.

Events Requiring Winding Up. The Company’s affairs shall be wound up only upon the first to occur of the following: (a) The written determination of the Member; or (b) The entry of a judicial decree under the TBOC requiring the winding up or dissolution of the Company. The death, dissolution, winding up, termination, bankruptcy, expulsion, withdrawal or other termination of the continued membership of the last remaining Member shall not constitute an event requiring winding up of the Company.

Events Requiring Winding Up. 14 9.2. WINDING UP, LIQUIDATION AND DISTRIBUTION OF ASSETS.................14 9.3 RETURN OF CONTRIBUTION NONRECOURSE TO MEMBERS......................15 ARTICLE X. MISCELLANEOUS.....................................................15 10.1. NOTICE.............................................................15

Events Requiring Winding Up. The Company shall be wound up only on the first to occur of any one or more of the following: (a) written consent of the Required Members; (b) at such time as there is no Member remaining; (c) entry of a judicial order to wind up the Company; or (d) on notice from any Member to the other Members on or after the 90th day following the date on which all Manager have ceased to be a Manager, unless a new Manager has been appointed as provided in Section 4.1 (f).

Events Requiring Winding Up. (a) The Company shall be wound up upon the first of the following to occur: (i) When the term of the Company expires; (ii) On the election to dissolve the Company by the affirmative vote of a Majority in Interest of the Members; (iii) On the death, retirement, resignation, expulsion, bankruptcy, legal incapacity or dissolution of all Members, or the occurrence of any other event that terminates the continued membership of all Members; or (iv) The entry of a judicial order to wind up the Company under Section 11.314 of the Texas Business Organizations Code. (b) Upon dissolution of the Company, the business and affairs of the Company shall terminate, and the assets of the Company shall be liquidated under this Article VII. (c) When an event requiring winding up occurs, the Company shall not terminate until there has been a winding up of the Company’s business and affairs, and the assets of the Company have been distributed as provided in Section 7.2. (d) In winding up the Company, the Managers may cause any part or all of the assets of the Company to be sold in the manner determined by the Managers in an effort to obtain the best prices for the assets; provided, however that the Managers may distribute assets of the Company in kind to the Members to the extent practicable.

Events Requiring Winding Up. The Company shall be wound up at such time, if any, as the Member may elect or as otherwise may be required upon the occurrence of the event specified in BOC Sec. 11.056 and the failure of the legal representative or successor to take the actions specified in Sec. 11.056 within the time specified.