Commencement and Term Sample Clauses

Commencement and Term. The Company commenced on the filing of the Articles of Organization in the Office of the Secretary of State of North Carolina, as required by Section 2.1 hereof, and shall continue until December 31, 2060, unless sooner terminated or dissolved as provided herein; provided, however, that the termination date may be extended for up to an additional forty (40) years in five (5) year increments upon the election of the Board of Directors. The consent of each Director to such extension shall not be unreasonably withheld or delayed.
Commencement and Term. The term of the LLC commenced at the Effective Time with the LLC being the successor in interest by conversion to the Partnership. The term of the LLC shall continue until it is dissolved, its affairs are wound up and final liquidating distributions are made pursuant to this Agreement. Except as otherwise provided herein, the LLC shall have perpetual existence.
Commencement and Term. The Company commenced upon the filing of the Certificate in the office of the Secretary of State of the State of North Carolina, as contemplated by Section 2.1 hereof, and shall continue until in perpetuity, unless sooner terminated as provided herein.
Commencement and Term. The LLC commenced at the time and on the date appearing in the Articles of Organization and shall continue until it is dissolved, its affairs are wound up and final liquidating distributions are made pursuant to this Agreement.
Commencement and Term. This Agreement shall commence on the Effective Date and shall continue during the Term, unless terminated earlier in accordance with its terms, subject to the sections which continue beyond the termination or expiry of this Agreement.
Commencement and Term. The term of the Company commenced on April 20, 2011, and shall continue until it is dissolved, its affairs are wound up and final liquidating distributions are made pursuant to this Agreement. Except as otherwise provided herein, the Company shall have perpetual existence.