Waiver of Rights of Partition and Dissolution Clause Samples

The Waiver of Rights of Partition and Dissolution clause prevents parties involved in a joint ownership or partnership from unilaterally forcing the division or dissolution of the shared property or entity. In practice, this means that no individual owner or partner can compel the sale, split, or termination of the jointly held asset or business without the agreement of all parties. This clause is commonly used in real estate co-ownership agreements or partnership contracts to maintain stability and continuity, ensuring that the asset or business remains intact unless all parties consent to a change, thereby avoiding disputes and forced breakups.
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Waiver of Rights of Partition and Dissolution. Each Member (other than the Initial Member) hereby irrevocably waives all rights it may have at any time to maintain any action for division or sale of the Company Property as now or hereafter permitted under any applicable Law. Each Member (other than the Initial Member) hereby waives and renounces its rights to seek a court decree of dissolution or to seek the appointment of a court receiver for the Company as now or hereafter permitted under any applicable Law.
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Waiver of Rights of Partition and Dissolution. Each Partner waives all rights it may have at any time to maintain any action for partition or sale of any Partnership assets as now or hereafter permitted under applicable law. Each Partner waives its rights to seek a court decree of dissolution or to seek the appointment of a court receiver for the Partnership as now or hereafter permitted under applicable law.
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Waiver of Rights of Partition and Dissolution. Each of the Members hereby irrevocably waives all rights it may have at any time to maintain any action for dissolution of the Company, or division or sale of the Company Property, as now or hereafter permitted under the Act or any other applicable Law. Each Member hereby waives and renounces its rights to seek a court decree of dissolution or to seek the appointment of a court receiver for the Company as now or hereafter permitted under the Act or any other applicable law. Subject to provisions of Law that cannot be waived by the Members and to circumstances involving a breach of this Agreement by the other Member, each Member covenants that it will not (except with the consent of Manager) file a ▇▇▇▇ for Company accounting. Nothing in this Section 10.1 limits the right of either Member to institute or maintain an appropriate action to enforce or exercise any right expressly granted to it under this Agreement.
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Waiver of Rights of Partition and Dissolution. 18 12.2 Entire Agreement 18 12.3 Governing Law; Jurisdiction 18 12.4 Third Party Beneficiaries 18 12.5 Expenses 18 12.6 Waivers and Amendments 18 12.7 Notices 19 12.8 Counterparts; Facsimile Signatures 21 12.9 Successors and Assigns 21 12.10 Construction 21 12.11 Compliance With Law; Severability 22 12.12 Power of Attorney 23 12.13 Submission to Jurisdiction; Waivers 23 Annex I – Certain Definitions Exhibit A – Certificate of Formation THIS LIMITED LIABILITY COMPANY OPERATING AGREEMENT (as the same may be amended or modified from time to time in accordance with the terms hereof, this “Agreement”), is made and effective as of February 20, 2009, by and among the Federal Deposit Insurance Corporation as Receiver (“Receiver”) for First National Bank of Nevada (“Initial Member”) and FNBN-CMLCON I LLC, a Delaware limited liability company (the “Company”).
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Waiver of Rights of Partition and Dissolution. 18 12.2 Entire Agreement 18 12.3 Governing Law; Jurisdiction 18 12.4 Third Party Beneficiaries 18 12.5 Expenses 18 12.6 Waivers and Amendments 19 12.7 Notices 19 12.8 Counterparts; Facsimile Signatures 21 12.9 Successors and Assigns 21 12.10 Construction 21 12.11 Compliance With Law; Severability 22 12.12 Power of Attorney 23 12.13 Submission to Jurisdiction; Waivers 23 Annex I – Certain Definitions Exhibit A – Certificate of Formation Exhibit B – Form of Loan Contribution and Assignment Agreement Exhibit C – Form of Participation and Servicing Agreement THIS LIMITED LIABILITY COMPANY OPERATING AGREEMENT (as the same may be amended or modified from time to time in accordance with the terms hereof, this “Agreement”), is made and effective as of December 29, 2008, by and among the Federal Deposit Insurance Corporation as Receiver (“Receiver”) for First National Bank of Nevada (“Initial Member”) and FNBN I, LLC, a Delaware limited liability company (the “Company”).
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Waiver of Rights of Partition and Dissolution. Sweetheart and ECC each hereby waive all rights it may have at any time to maintain any action for partition or sale of any of the assets in connection with the Principal Activity as now or hereafter permitted under applicable law. Sweetheart and ECC each hereby waives rights to seek a court decree of dissolution or to seek the appointment of a court receiver in connection with the Principal Activity as now or hereafter permitted under applicable law. EXECUTION COPY --------------
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Waiver of Rights of Partition and Dissolution. Each of the Parties hereby waives all rights it may have, at any time, to maintain any action for partition or sale of the JV Company's properties as now or hereafter permitted under any applicable statutes or other laws. Each of the Parties hereby waives and renounces its rights to seek a court decree of dissolution or to seek the appointment of a court receiver for the JV Company as now or hereafter permitted under any applicable statutes or other laws. Neither Party may effect a dissolution of the JV Company except as provided in this Agreement.
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Waiver of Rights of Partition and Dissolution. 18 12.2 Entire Agreement 18 12.3 Governing Law; Jurisdiction 18 12.4 Third Party Beneficiaries 18 12.5 Expenses 18 12.6 Waivers and Amendments 18 12.7 Notices 19 12.8 Counterparts; Facsimile Signatures 21 12.9 Successors and Assigns 21 12.10 Construction 21
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Related to Waiver of Rights of Partition and Dissolution

  • Termination and Dissolution 8.1 Party B represents and warrants that it has terminated its employment with his former employer, if applicable, when signing this Contract. 8.2 This Contract may only be amended upon written agreement of both Parties. 8.3 On the Expiration Date, this Contract shall be automatically renewed for an additional term of 3 years, unless either Party notifies the other Party of its decision not to renew this Contract. 8.4 This Contract may be terminated, dissolved or renewed by either Party pursuant to the Labor Law of the People’s Republic of China and other applicable government rules and regulations. 8.5 If Party A terminates the Contract in violation of the provisions herein, then Party A shall be liable for any losses incurred by Party B pursuant to the provisions of Labor Law of the People’s Republic of China. 8.6 Upon dissolution or termination of this Contract by the Parties for any reason, Party B shall immediately cease all activities conducted in the name of Party A, complete outstanding business as per Party A’s requests, settle all accounts, carry out any work-related transitions, and return all Party A’s properties, including but not limited to: (a) all documents and files with respect to Party A, Party A’s management, operation and products and the copies thereof, which are maintained, used or controlled by Party B; (b) name lists and information relating to Party A’s suppliers, clients and other business contacts; (c) software, disks, hardware and CDs containing Party A’s data and information; and (d) instruments, uniforms, apparatuses, equipment and other office appliances, etc., which have been provided to Party B by Party A for work purposes. 8.7 Upon dissolution or termination of this Contract, any indemnification liabilities borne by Party A shall be paid to Party B upon completion of the work-related transitions and other obligations under Article 8.6. 8.8 Upon dissolution or termination of this Contract, Party A shall issue labor contract termination certificate evidencing such termination. In addition, Party A shall also arrange transfers of Party B’s social insurance and welfare documentation in accordance with applicable laws and procedures.

  • Liquidation and Dissolution If the Company is liquidated, the assets of the Company shall be distributed to the Member or to a Successor or Successors.

  • Term and Dissolution (a) The term of the Partnership shall continue in full force and effect until dissolved upon the first to occur of any of the following events: (i) the occurrence of an Event of Bankruptcy as to a General Partner or the dissolution, death, removal or withdrawal of a General Partner unless the business of the Partnership is continued pursuant to Section 7.3(b) hereof; provided that if a General Partner is on the date of such occurrence a partnership, the dissolution of such General Partner as a result of the dissolution, death, withdrawal, removal or Event of Bankruptcy of a partner in such partnership shall not be an event of dissolution of the Partnership if the business of such General Partner is continued by the remaining partner or partners, either alone or with additional partners, and such General Partner and such partners comply with any other applicable requirements of this Agreement; (ii) the passage of ninety (90) days after the sale or other disposition of all or substantially all of the assets of the Partnership (provided that if the Partnership receives an installment obligation as consideration for such sale or other disposition, the Partnership shall continue, unless sooner dissolved under the provisions of this Agreement, until such time as such note or notes are paid in full); or (iii) the election by the General Partner that the Partnership should be dissolved. (b) Upon dissolution of the Partnership (unless the business of the Partnership is continued pursuant to Section 7.3(b) hereof), the General Partner (or its trustee, receiver, successor or legal representative) shall amend or cancel any Certificate(s) and liquidate the Partnership’s assets and apply and distribute the proceeds thereof in accordance with Section 5.6 hereof. Notwithstanding the foregoing, the liquidating General Partner may either (i) defer liquidation of, or withhold from distribution for a reasonable time, any assets of the Partnership (including those necessary to satisfy the Partnership’s debts and obligations), or (ii) distribute the assets to the Partners in kind.

  • Procedure for Winding Up and Dissolution If the Company is dissolved, the affairs of the Company shall be wound up. On winding up of the Company, the assets of the Company shall be distributed, first, to creditors of the Company in satisfaction of the liabilities of the Company, and then to the person(s) who is/are the Member(s) of the Company in proportion to the Member’s(s’) Interests.

  • Dissolution and Termination of Trust (a) This Trust shall continue without limitation of time but subject to the provisions of sub-sections (b) and (c) of this Section 9.4. (b) Notwithstanding anything in Section 9.5 to the contrary, the Trustees may without Shareholder approval (unless such approval is required by the 1940 Act) in dissolution of the Trust or any Class, liquidate, reorganize or dissolve the Trust or any Class in any manner or fashion not inconsistent with applicable law, including, without limitation, (i) sell and convey all or substantially all of the assets of the Trust or any Class to another trust, partnership, limited liability company, association or corporation, or to a separate series or class of shares thereof, organized under the laws of any state or jurisdiction, for adequate consideration which may include the assumption of all outstanding obligations, taxes and other liabilities, accrued or contingent, of the Trust or any Class, and which may include shares of beneficial interest, stock or other ownership interests of such trust, partnership, limited liability company, association or corporation or of a series thereof; or (ii) at any time sell and convert into money all of the assets of the Trust or any Class. Following a sale or conversion in accordance with the foregoing sub-Section 9.4(b)(i) or (ii), and upon making reasonable provision, in the determination of the Trustees, for the payment of all liabilities of the Trust or the affected Class as required by applicable law, by such assumption or otherwise, the Shareholders of each Class involved in such sale or conversion shall be entitled to receive, as a Class, when and as declared by the Trustees, the excess of the assets allocated to that Class over the liabilities allocated to such Class. The assets so distributable to the Shareholders of any particular Class shall be distributed among such Shareholders in proportion to the number of Shares of that Class held by them and recorded on the books of the Trust. (c) Upon completion of the distribution of the remaining proceeds or the remaining assets as provided in sub-section (b), the Trust (in the case of a sale or conversion with respect to the Trust) or any affected Class shall terminate and the Trustees and the Trust or any affected Class shall be discharged of any and all further liabilities and duties hereunder and the right, title and interest of all parties with respect to the Trust or such affected Class shall be cancelled and discharged. Upon termination of the Trust, following completion of winding up of its business, the Trustees shall cause a certificate of cancellation of the Trust’s certificate of trust to be filed in accordance with the Act, which certificate of cancellation may be signed by any one Trustee.