Common use of Dissociation Clause in Contracts

Dissociation. A Person shall cease to be a Member upon the happening of any of the following events: withdrawal of such Member; the death of a Member who is a natural person; the termination of a trust if such trust is a Member; filing of a certificate of dissolution or revocation of corporate charter for any Member that is a corporation; dissolution of an organization of a non-corporate entity for any Member that is an organization other than a corporation.

Dissociation. A Person shall cease to be a Member upon the happening of any of the following events: withdrawal of such : (a) A Member becoming a Bankrupt Member; ; (b) in the death case of a Member that is a trust or who is acting as a natural person; Member by virtue of being a trustee of a trust, the termination of the trust (but not merely the substitution of a trust if such trust new trustee); (c) in the case of a Member that is a Member; corporation, the filing of a certificate of dissolution dissolution, or its equivalent, for the corporation or the revocation of corporate charter for any Member that is a corporation; dissolution of an organization its charter; (d) in the case of a non-corporate entity for any Member that is an organization individual, the death of such Member; or (e) the occurrence of any other than event under the Act that terminates the continued membership of a corporationmember in the Company.