Common use of Incapacity of a Non-Managing Member Clause in Contracts

Incapacity of a Non-Managing Member. (a) Notwithstanding any other provision of this Agreement, the death, Bankruptcy, dissolution or incompetence of a Non-Managing Member shall not, in and of itself, cause a dissolution of the Company, and upon the occurrence of such an event, the Company shall continue without dissolution. If any such event shall occur with respect to a Non-Managing Member, the trustee, successors or assigns of such Non-Managing Member shall succeed only to the economic interest of such Non-Managing Member herein, but no such trustee, successor or assignee shall become a substituted Non-Managing Member unless and until the requirements of Sections 10.1, 10.3, 10.4 and 10.5 hereof with respect thereto have been satisfied.

Incapacity of a Non-Managing Member. (a) Notwithstanding any other provision of this Agreement, the death, Bankruptcy, dissolution or incompetence of a Non-Managing Member shall not, in and of itself, cause a dissolution of the Company, and upon the occurrence of such an event, the Company shall continue without dissolution. If any such event shall occur with respect to a Non-Managing Member, the trustee, successors or assigns of such Non-Managing Member shall succeed only to the economic interest of such Non-Managing Member herein, but no such trustee, successor or assignee shall become a substituted Non-Managing Member unless and until the requirements of Sections 10.1, 10.3, 10.4 10.4, 10.5 and 10.5 10.6 hereof with respect thereto have been satisfied.