Dissolution and Liquidation Clause Samples
The Dissolution and Liquidation clause outlines the procedures to be followed when a company or partnership is formally ended and its assets are distributed. It typically specifies the steps for winding up affairs, such as settling debts, notifying stakeholders, and distributing any remaining assets among the owners or shareholders according to their interests. This clause ensures an orderly and fair process for closing the entity, protecting the rights of all parties involved and minimizing disputes during the termination phase.
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Dissolution and Liquidation. Section 12.1 Dissolution 84 Section 12.2 Continuation of the Business of the Partnership After Dissolution 84 Section 12.3 Liquidator 85 Section 12.4 Liquidation 85 Section 12.5 Cancellation of Certificate of Limited Partnership 86 Section 12.6 Return of Contributions 86 Section 12.7 Waiver of Partition 86 Section 12.8 Capital Account Restoration 86
Dissolution and Liquidation. 55 Section 13.1 Dissolution ............................................................ 55 Section 13.2
Dissolution and Liquidation. (Check One)
Dissolution and Liquidation. The Partnership shall be dissolved, and its affairs shall be wound up as provided in Section 2.4.
Dissolution and Liquidation. Single Member (Applies ONLY if Single-Member): The Company shall dissolve and its affairs shall be wound up on the first to occur of (i) At a time, or upon the occurrence of an event specified in the Articles of Organization or this Agreement.
Dissolution and Liquidation. Dissolution 77 Section 12.2 Continuation of the Business of the Partnership After Dissolution 78 Section 12.3 Liquidator 79 Section 12.4 Liquidation 79 Section 12.5 Cancellation of Certificate of Limited Partnership 80 Section 12.6 Return of Contributions 80 Section 12.7 Waiver of Partition 80 Section 12.8 Capital Account Restoration 80 Section 13.1 Amendments to be Adopted Solely by the General Partner 81 Section 13.2 Amendment Procedures 82 Section 13.3 Amendment Requirements 82 Section 13.4 Special Meetings 83 Section 13.5 Notice of a Meeting 84 Section 13.6 Record Date 84 Section 13.7 Adjournment 84 Section 13.8 Waiver of Notice; Approval of Meeting; Approval of Minutes 84 Section 13.9 Quorum and Voting 85 Section 13.10 Conduct of a Meeting 85 Section 13.11 Action Without a Meeting 85 Section 13.12 Right to Vote and Related Matters 86
Dissolution and Liquidation a) Single-Member (Applies ONLY if Single-Member): The Company shall dissolve and its affairs shall be wound up on the first to occur of the following: (i) at a time, or upon the occurrence of an event specified in the Articles of Organization or this Agreement; (ii) the determination by the Member that the Company shall be dissolved.
b) Multi-Member (Applies ONLY if Multi-Member): The Company shall terminate upon the occurrence of any of the following: (i) the election by the Members to dissolve the Company made by the unanimous vote or consent of the Members; (ii) the occurrence of a Withdrawal Event with respect to a Member and the failure of the remaining Members to elect to continue the business of the Company as provided for in this Agreement above; or (iii) any other event which pursuant to this Agreement, as the same may hereafter be amended, shall cause a termination of the Company.
Dissolution and Liquidation. 15 7.1. Dissolution..........................................................15 7.2.
Dissolution and Liquidation. 41 14.1 Dissolution............................................................................................ 41 14.2 Continuation of Business of Partnership after Dissolution.................. 41 14.3 Liquidation............................................................................................ 42 14.4 Distribution in Kind.............................................................................. 43 14.5 Cancellation of Certificate of Limited Partnership............................... 43
Dissolution and Liquidation. Section 9.01.