Dissolution Prior to Expiration of Term Sample Clauses

The "Dissolution Prior to Expiration of Term" clause defines the conditions under which a partnership, company, or agreement may be dissolved before its originally agreed-upon end date. Typically, this clause outlines specific events or actions—such as mutual agreement, breach of contract, insolvency, or other triggering circumstances—that can lead to early dissolution. By clearly specifying these scenarios, the clause provides a structured process for ending the relationship or agreement ahead of schedule, thereby offering flexibility and protecting the interests of the parties if unforeseen issues arise.
Dissolution Prior to Expiration of Term. As contemplated by Sections 5.1 and 5.2(a), it is the intention of Star and Citizen that both this Agreement and the Partnership Agreement shall continue in full force and effect until June 1, 2015 and thereafter for successive 25 year periods so long as either Star or Citizen wishes such renewals to occur. Star and Citizen recognize, however, that the partnership between them may be dissolved upon bankruptcy of a partner (as provided in Section 5.2(b)(ii) hereof) or pursuant to the provisions of Section 5.2(b)(iii) hereof or pursuant to the provisions of the applicable partnership law of the State of Arizona. In order to take account of the possibility of such a dissolution, the parties therefore wish to provide in this Section 5.3 for the orderly continuation of this Agreement for its term and any renewals thereof in the unlikely and unanticipated event of, and notwithstanding, any such dissolution of the partnership between them that may occur.
View SourceView Similar (2)
Dissolution Prior to Expiration of Term. Prior to the Term Expiration, and subject to the rights of any other class of Partnership Units, an election to dissolve the Partnership made by the General Partner, unless Original Class A Limited Partners holding at least five percent (5%) of the Class A Common Units initially issued on the Effective Date to all Original Limited Partners object in writing to such dissolution within thirty (30) days of receiving written notice of such election from the General Partner; or
View Source
Dissolution Prior to Expiration of Term. The Company shall be --------------------------------------- dissolved prior to the expiration of its term (a) upon agreement of Members to dissolve the Company, (b) upon a sale of all or substantially all of the assets of the Company, (c) if the Members are unable to resolve a deadlock condition pursuant to Section 5.2 above and neither Member purchases the interest of the other Member as provided in Section 5.2 above, or (d) as otherwise provided by applicable law.
View Source
Dissolution Prior to Expiration of Term. The Joint Venture shall be dissolved prior to the expiration of its term only upon the occurrence of one of the following events: (a) the Venturers' election to dissolve the Joint Venture; or (b) termination of the operations of the Joint Venture and the Subsidiary or the sale or other disposition by the Joint Venture and the Subsidiary of all of their assets.
View Source

Related to Dissolution Prior to Expiration of Term

  • Termination Prior to Expiration of Term This Section shall govern any termination of this Contract except as specifically provided in the following Section for termination for cause. The City reserves the right to terminate this Contract at any time, with or without cause, upon thirty (30) days’ written notice to Consultant, except that where termination is due to the fault of the Consultant, the period of notice may be such shorter time as may be determined by the Contract Officer. In addition, the Consultant reserves the right to terminate this Contract at any time, with or without cause, upon sixty (60) days’ written notice to City, except that where termination is due to the fault of the City, the period of notice may be such shorter time as the Consultant may determine. Upon receipt of any notice of termination, Consultant shall immediately cease all services hereunder except such as may be specifically approved by the Contract Officer. Except where the Consultant has initiated termination, the Consultant shall be entitled to compensation for all services rendered prior to the effective date of the notice of termination and for any services authorized by the Contract Officer thereafter in accordance with the Schedule of Compensation or such as may be approved by the Contract Officer, except as provided in Section 7.3. In the event the Consultant has initiated termination, the Consultant shall be entitled to compensation only for the reasonable value of the work product actually produced hereunder. In the event of termination without cause pursuant to this Section, the terminating party need not provide the non-terminating party with the opportunity to cure pursuant to Section 7.2.

  • Expiration of Term During the Initial Term or Renewal Term, whichever currently is in effect, should either party exercise its right to terminate, all out-of-pocket expenses or costs associated with the movement of records and material will be borne by the Fund. Additionally, the Transfer Agent reserves the right to charge for any other reasonable expenses associated with such termination.

  • Dissolution Upon Expiration Date Unless earlier dissolved, the Trust shall automatically dissolve on July 30, 2040 (the “Expiration Date”), and the Trust Property shall be liquidated in accordance with Section 9.4.

  • Expiration of the Term This Agreement shall terminate automatically at the expiration of the Period of Employment unless the parties enter into a written agreement extending Employee's employment, except for the continuing obligations of the parties as specified hereunder.

  • Continued Employment Following Expiration of Term Nothing in this Agreement shall mandate or prohibit a continuation of Executive’s employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree.