Event of disassociation definition

Event of disassociation means an event that causes a person to cease to be a member as provided in KRS 275.280;
Event of disassociation has the meaning given in Section 4.6(a).
Event of disassociation shall have the meaning assigned to that term in Section 3.15 of this Agreement.

Examples of Event of disassociation in a sentence

  • The Company has three (3) options if there is an Event of Disassociation because of the death of a Member; (i) pay the Redemption Price at the closing in the form of a promissory note as set forth in Article 2.12(f) above; (ii) transfer the Membership Interest to the Member’s family, estate, or beneficiary making the recipient a full Member; (iii) dissolve the Company and distribute the profit and loss pro rata according to Article 6.2.

  • The Company has the affirmative duty within three (3) working days of the Event of Disassociation to notify the appraiser to begin calculating the Company Net Value.

  • The Closing Date shall not be later than ninety (90) days after the Event of Disassociation.

  • Each unitholder (whether or not a Member) as a condition of becoming a unitholder has no right to receive a Distribution in partial or complete redemption of the fair value of the units or Interest of any unitholder upon an Event of Disassociation or otherwise which, in the absence of the provisions in this Agreement, it would otherwise be afforded by Section 18-604 of the Act or any other provision of the Act.

  • The occurrence of an Event of Disassociation or any other event which is deemed to terminate the continued membership of a Member in one or all Classes, will not dissolve the Company, the Company’s affairs shall not be required to be wound up, and the Company shall continue without dissolution.


More Definitions of Event of disassociation

Event of disassociation means an event that causes a person to cease to be a

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