Liquidation or Dissolution of the Company Sample Clauses
The 'Liquidation or Dissolution of the Company' clause outlines the procedures and rules that apply when a company is formally closed or its assets are sold off. Typically, this clause details how the company's remaining assets will be distributed among shareholders or creditors, the order of payments, and the steps required to wind up the company's affairs. Its core function is to ensure an orderly and fair process for ending the company's existence, protecting the interests of stakeholders, and minimizing disputes during the dissolution process.
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Liquidation or Dissolution of the Company. In the event of the proposed dissolution or liquidation of the Company, each Award will terminate immediately prior to the consummation of such proposed action, unless otherwise provided by the Committee. Additionally, the Committee may, in the exercise of its sole discretion, cause Awards to be vested and non-forfeitable and cause any conditions on any such Award to lapse, as to all or any part of such Award, including Shares as to which the Award would not otherwise be exercisable or non-forfeitable and allow all Grantees to exercise such Awards of Options and SARs within a reasonable period prior to the consummation of such proposed action. Any Awards that remain unexercised upon consummation of such proposed action shall be cancelled.
Liquidation or Dissolution of the Company. In the event of the proposed dissolution or liquidation of the Company, the Option will terminate immediately prior to the consummation of such proposed action, unless otherwise provided by the Committee. Additionally, the Committee may, in the exercise of its sole discretion, cause the Option to be vested and non-forfeitable and cause any conditions on the Option to lapse, as to all or any part of the Option, including Shares as to which the Option would not otherwise be exercisable or non-forfeitable and allow the Grantee to exercise the Option within a reasonable period prior to the consummation of such proposed action. Any portion of the Option that remains unexercised upon consummation of such proposed action shall be cancelled.
Liquidation or Dissolution of the Company. In the event of an involuntary or voluntary liquidation or dissolution of the Company at any time, the Manager shall be entitled to receive out of the assets of the Company its deferred Management Fees plus interest prior to any distribution to the shareholders of the Company.
Liquidation or Dissolution of the Company. In the event of the proposed dissolution or liquidation of the Company, each Option shall terminate prior to the consummation of such proposed action or at such other time and subject to such other conditions as shall be determined by the Board.
Liquidation or Dissolution of the Company. APPOINTMENT OF RECEIVER OR LIQUIDATOR
(i) the suspension of payments, a moratorium of any indebtedness, winding-up, dissolution, administration or reorganisation (by way of voluntary arrangement, scheme of arrangement or otherwise) of the Company or the Target Company or JUF;
(ii) a composition, compromise, assignment or arrangement with any creditor of the Company or the Target Company or JUF or the Parent Company;
(iii) the appointment of a liquidator, receiver, administrative receiver, administrator, compulsory manager or other similar officer in respect of the Company or the Target Company or JUF or the Parent Company;
(iv) enforcement of any security over any assets of the Company, the Parent Company, JUF or the Target Company or any analogous procedure or step is taken in any jurisdiction; or
(v) any other event occurs or proceeding is instituted that under any Applicable Law would have an effect analogous to any of the events listed in clauses (i), (ii), (iii) and (iv) above.