Dissolution Avoidance Consent. Notwithstanding the provisions of Section 12.1 herein, or any event of dissolution provided by the Act, the Company shall not be dissolved and shall not be required to be wound up and terminated following an event of dissolution, provided that there is at least one (1) remaining Member and a majority in interest of the remaining Members consent to the continuation of the Company.
Dissolution Avoidance Consent. An event that terminates the continued membership of a Member shall not cause the company to be dissolved unless it is the last or sole member of the Company. After the occurrence of an event, as provided in Section 13.1, that terminates the continued membership of another Member in the Company, each remaining Member may be asked to consent to the continuation of the Company as a legal entity without dissolution and to the continuation of its business, pursuant to the power set forth in Article V of the Articles of Organization of the Company.
Dissolution Avoidance Consent. Each Member agrees that at the request of the Company and no later than 90 days after the occurrence of an event that terminates the continued membership of another Member in the Company (including the events enumerated in section 322B.80, Subd. 1, Clause (5) of the Act), each remaining Member shall consent to the continuation of the Company as a legal entity without dissolution and to the continuation of its business.
Dissolution Avoidance Consent. Each Member agrees that at the request of the Company and no later than 90 days after occurrence of an event that terminates the continued membership of another Member in the Company (including the events enumerated in Section 322B.80, Subd. 1, clause (5) of the Act), each remaining Member shall consent to the continuation of the Company as a legal entity without dissolution and to the continuation of its business. The Members hereby consent to the continuation of the Company as a legal entity without dissolution and to the continuation of its business upon termination of the Membership Interest of the Preferred Members after payment to the Preferred Member of their respective Preference Amounts.
Dissolution Avoidance Consent. 31 16.1.2. Events Causing Dissolution ................................31 16.2. Withdrawal ..................................................32 16.3. General Effect of a Dissolution Event .......................32 16.4. Advance Notice of Voluntary Dissolution .....................33
Dissolution Avoidance Consent. If, after the occurrence of a Dissolution Event of the type described in Section 16.1.2(c), there is at least one (1) Member remaining and such Member or Members, by a Majority in Interest of such Members, elect to continue the business of the Company within ninety (90) calendar days after the occurrence of such Dissolution Event, the Company shall not dissolve and terminate. Such timely action is referred to herein as "Dissolution Avoidance Consent." Such Dissolution Avoidance Consent may be evidenced in writing or in such other method or manner as the Board may approve, including electronic means, facsimile transmission or orally at a meeting of the remaining Members.
Dissolution Avoidance Consent. Upon the occurrence of an event that terminates the continued membership of a Member (including the events enumerated in Minnesota Statutes Section 322B.80, subdivision 1, clause (5)), the existence and business of the Company may be continued without dissolution if a majority-in-interest of the remaining Members consent within 90 days after the termination of the continued membership; provided that there are at least two remaining Members or a new Member is admitted within 90 days after the termination of the event causing dissolution.
