Distribute Property Sample Clauses

The "Distribute Property" clause outlines how property or assets are to be divided among specified parties, typically upon the occurrence of a triggering event such as the dissolution of a partnership, the winding up of an estate, or the termination of a trust. This clause details the process for identifying eligible recipients, the method of valuation, and the timing of distribution, ensuring that each party receives their entitled share according to the agreement or legal requirements. Its core function is to provide a clear and orderly mechanism for allocating property, thereby minimizing disputes and ensuring fairness among beneficiaries or stakeholders.
Distribute Property. To make division or distribution in money or kind, or partly in either including disproportionate in-kind distributions, at values to be determined by the Trustee, and the Trustee's judgment shall be binding upon all interested parties.
View SourceView Similar (12)
Distribute Property. To make division or distribution in money or kind, or partly in either including
View Source

Related to Distribute Property

  • B8 Property Where the Client issues Property free of charge to the Contractor such Property shall be and remain the property of the Client and the Contractor irrevocably licences the Client and its agents to enter upon any premises of the Contractor during normal business hours on reasonable notice to recover any such Property. The Contractor shall not in any circumstances have a lien or any other interest on the Property and the Contractor shall at all times possess the Property as fiduciary agent and bailee of the Client. The Contractor shall take all reasonable steps to ensure that the title of the Client to the Property and the exclusion of any such lien or other interest are brought to the notice of all sub-contractors and other appropriate persons and shall, at the Client’s request, store the Property separately and ensure that it is clearly identifiable as belonging to the Client.