Common use of Events Triggering Dissolution Clause in Contracts

Events Triggering Dissolution. The Company shall dissolve and commence winding up and liquidation upon the first to occur of any of the following (“Liquidating Events”): (a) the election by the Member, at its sole option, documented by a written consent, to require the dissolution, winding up and liquidation of the Company; or (b) the entry of a decree of judicial dissolution under Section 18-802 of the Act. The Company shall not be dissolved for any other reason, including without limitation, the Member’s becoming bankrupt or executing an assignment for the benefit of creditors, and any such bankruptcy or assignment shall not effect a transfer of any portion of the Member’s membership interest in the Company.

Events Triggering Dissolution. The Company shall dissolve and commence winding up and liquidation upon the first to occur of any of the following (“Liquidating Events”): (ai) the written consent of the Member; (ii) the election by the Member, at its sole option, documented by a written consent, to require the dissolution, winding up and liquidation of the Company; or (biii) the entry of a decree of judicial dissolution under Section 18-802 of the Act. The Company shall not be dissolved for any other reason, including without limitation, the Member’s becoming bankrupt or executing an assignment for the benefit of creditors, and any such bankruptcy or assignment shall not effect a transfer of any portion of the Member’s membership interest in the Company.