Common use of Disassociation Clause in Contracts

Disassociation. Any Person shall cease to be a Partner upon the happening of any of the following events: 10.5.1 the withdrawal of a Partner with the consent of a Majority Vote of the Partners (not including the withdrawing Partner); 10.5.2 any Partner becomes a Bankrupt Partner; [ ] = Confidential Treatment Requested 10.5.3 in the case of any Partner who is a natural person, the death of that Partner or the entry of an order by a court of competent jurisdiction adjudicating that Partner incompetent to manage that Partner's personal estate; 10.5.4 in the case of any Partner who is acting as a Partner by virtue of being a trustee of a trust, the termination of the trust (but not merely the substitution of a new trustee); 10.5.5 in the case of any Partner that is a separate Organization other than a corporation, the dissolution and commencement of winding up of the separate Organization; 10.5.6 in the case of any Partner that is a corporation, the filing of a certificate of dissolution, or its equivalent, for the corporation or the revocation of its charter; PROVIDED, that in no event shall the merger of any Partner, whether or not such Partner survives such merger, result in a Disassociation of such Partner; or 10.5.7 in the case of any Partner that is an estate, the distribution by the fiduciary of the estate's entire interest in the Company.