Common use of Events Requiring Winding Up Clause in Contracts

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. (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 company shall be applied in the manner, and in the order of priority, set forth the Act.

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 or 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 in the Act.

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 MembersMember, (ii) the retirement, resignation of or dissolution of the MembersMember, or the occurrence of any other event which terminates the continued membership of the MembersMember, 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 in the Act.