Common use of Termination of a Series Clause in Contracts

Termination of a Series. (a) The Manager may effectuate the termination of a Series, without the consent of the Members, upon any of the following events: (i) the determination by the Manager, acting in its sole discretion, to terminate such Series; (ii) the dissolution of the Company; (iii) the sale or other disposition of the Property held by such Series; or (iv) the entry of a decree of judicial termination under Section 18-215 of the Act. (b) The termination and winding up of a Series shall not, in of itself, cause a dissolution of the Company or the termination of any other Series. The termination of a Series shall not affect the limitation on liabilities of the Series or any other Series provided by this Agreement, the Certificate of Formation and the Act. (c) Upon the termination of a Series as provided herein, such Series shall be wound up in the manner provided by Section 8.3.