Dissolution of GBW and GBW Operating Sub Sample Clauses

The 'Dissolution of GBW and GBW Operating Sub' clause outlines the procedures and conditions under which the entities GBW and its operating subsidiary may be formally dissolved. This typically includes specifying the steps for winding up affairs, distributing assets, and settling outstanding obligations or liabilities. For example, the clause may detail how remaining assets are allocated among stakeholders or how debts are to be paid before dissolution is finalized. Its core practical function is to provide a clear, orderly process for ending the existence of these entities, thereby preventing disputes and ensuring all legal and financial matters are properly resolved.
Dissolution of GBW and GBW Operating Sub. (a) GBH, Millenium, Watco Mechanical and GBW acknowledge and agree that GBW and GBW Operating Sub will, as of the Closing, be dissolved pursuant to Section 8.1(a)(1) of the Second Amended and Restated GBW LLC Agreement, and Section 5.1(a) of the GBW Operating Sub LLC Agreement, and GBH, Millenium, Watco Mechanical and GBW desire and agree to proceed with the winding up of GBW and GBW Operating Sub in accordance with this
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Related to Dissolution of GBW and GBW Operating Sub

  • Dissolution of the Company The Company shall be dissolved upon the happening of any of the following events, whichever shall first occur: (a) upon the written direction of the Member; or (b) the expiration of the term of the Company as provided in Section 2.5 hereof.

  • Dissolution of Company The Company shall, subject to the SEC’s‌ approval, dissolve and its assets and business shall be wound up upon the occurrence of any of the following events: (a) unanimous written consent of the Participants to dissolve the Company; (b) an event that makes it unlawful or impossible for the Company business to be continued; (c) the termination of one or more Participants such that there is only one remaining Participant; or (d) the entry of a decree of judicial dissolution under Section 18-802 of the Delaware Act.

  • Dissolution, etc Wind up, liquidate or dissolve (voluntarily or involuntarily) or commence or suffer any proceedings seeking any such winding up, liquidation or dissolution, except in connection with a merger or consolidation permitted pursuant to Section 10.8.

  • Dissolution of the Partnership The General Partner may dissolve the Partnership prior to the expiration of its term at any time on not less than 60 days’ notice of the dissolution date given to the other Partners. Upon the dissolution of the Partnership, the Partners’ respective interests in the Partnership shall be valued and settled in accordance with the procedures set forth in Section 6.5.

  • Dissolution and Termination of the Company 20 Section 12.1. Dissolution.................................................20 Section 12.2. Liquidation.................................................20 Section 12.3. Time for Liquidation, etc...................................21 Section 12.4. Claims of the Members.......................................21