Dissolving Events Sample Clauses
The "Dissolving Events" clause defines specific circumstances under which a partnership, company, or contractual relationship may be formally ended or dissolved. Typically, this clause outlines events such as bankruptcy, mutual agreement, expiration of a set term, or the occurrence of a particular event that triggers dissolution. By clearly identifying these triggers, the clause provides a structured process for winding up affairs and distributing assets, thereby ensuring all parties understand when and how the relationship can be legally terminated and reducing the risk of disputes.
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Dissolving Events. The Company shall be dissolved in the manner hereinafter provided upon the happening of any of the following events:
(a) an Approved Major Decision to dissolve the Company;
(b) the disposition by the Company (and/or every other Project Entity) of all or substantially all of the Project Assets (and/or the interests in all of the Project Entities) and the collection of all amounts derived from any such disposition (including all amounts payable to the Company or any other Project Entity); or
(c) any other event which under applicable Law would cause the dissolution of the Company; provided, however, that, unless required by Law, the Company shall not be liquidated as a result of any such event and the Company shall be reconstituted.
Dissolving Events. The Partnership shall be liquidated and dissolved in the manner hereinafter provided upon the happening of any of the following events, whichever first occurs:
(a) the written action of the General Partner to terminate the Partnership; Outback/Metropolis-I, Limited Partnership 12
(b) the entry of a final judgment, order or decree of a court of competent jurisdiction adjudicating the Partnership to be a bankrupt, and the expiration of the period, if any, allowed by applicable law in which to appeal therefrom;
(c) the withdrawal of the General Partner; or
(d) any other event that would cause the dissolution of the Partnership under the Act.
Dissolving Events. The Partnership shall be liquidated and dissolved in the manner hereinafter provided upon the happening of any of the following events, whichever first occurs:
(a) the written action of the General Partner to terminate the Partnership;
(b) the entry of a final judgment, order or decree of a court of competent jurisdiction adjudicating the Partnership to be a bankrupt, and the expiration of the period, if any, allowed by applicable law in which to appeal therefrom;
(c) the withdrawal of the General Partner; or
(d) any other event that would cause the dissolution of the Partnership under the Act.
Dissolving Events. The Partnership shall be liquidated and dissolved in the manner hereinafter provided upon the happening of any of the following events, whichever first occurs:
(a) the written action of the General Partner to terminate the Partnership; Outback/Southwest Georgia, Limited Partnership
(b) the entry of a final judgment, order or decree of a court of competent jurisdiction adjudicating the Partnership to be a bankrupt, and the expiration of the period, if any, allowed by applicable law in which to appeal therefrom;
(c) the withdrawal of the General Partner; or
(d) any other event that would cause the dissolution of the Partnership under the Act.
Dissolving Events. The Company shall be dissolved and its affairs wound up in the manner hereinafter provided upon the happening of any of the following events:
(a) the Board and the Members shall vote or agree in writing to dissolve the Company pursuant to the required votes set forth in Section 3.3(d) and Section 4.3, respectively; or
(b) any event which, under applicable law, would cause the dissolution of the Company; provided that, unless required by applicable law, the Company shall not be wound up as a result of any such event and the business of the Company shall continue. Notwithstanding the foregoing, the death, retirement, resignation, expulsion, bankruptcy or dissolution of any Member or the occurrence of any other event that terminates the continued membership of any Member in the Company under the Delaware Act shall not, in and of itself, cause the dissolution of the Company. In such event, the remaining Member(s) shall continue the business of the Company without dissolution.
Dissolving Events. The Company shall be dissolved and its affairs wound up in the manner hereinafter provided upon the first to occur of the following: (a) the written consent of the Managing Member, (b) the sale or other disposition of all or substantially all of the Company’s assets or (c) any other event which is specified in the Certificate or under applicable law as an event causing the dissolution of the Company of any event which under applicable law would cause the dissolution of the Company. Notwithstanding the foregoing, the death, retirement, resignation, expulsion, bankruptcy or dissolution of any Member or the occurrence of any other event that terminates the continued membership of any Member in the Company under the Delaware Act shall not, in and of itself, cause the dissolution of the Company. In such event, the remaining Member(s) shall continue the business of the Company without dissolution.
Dissolving Events. The Partnership shall be dissolved upon the ----------------- occurrence of any of the following events:
(a) Expiration of the Partnership term;
(b) Issuance of an order by a court of competent jurisdiction requiring the dissolution of the Partnership;
Dissolving Events. The Company shall be dissolved in the manner hereinafter provided upon the happening of any of the following events:
(a) fifty (50) years from the date hereof;
(b) the written agreement of all of the Members to terminate the Company;
(c) the disposition by the Company of the entire Property and the collection, and distribution to Members under Section 8.3(b), of all amounts derived from any such disposition, including all amounts payable to the Company under any promissory notes or other evidences of indebtedness derived by the Company from any such disposition;
(d) any other event which under applicable law would cause the dissolution of the Company, provided, however, that, unless required by law or objected to by CCDRC, the Company shall not be liquidated as a result of any such event and the Company shall be reconstituted;
(e) the dissolution or bankruptcy of a Member, unless a majority in interest, in profits and capital, of the remaining Members elect within ninety (90) days after the occurrence of any such event to continue the business of the Company; or
(f) in the event a Member shall fail to contribute its full proportionate share of any Initial Capital Contribution in accordance with the terms hereof.
Dissolving Events. Notwithstanding the Act, the Company shall be dissolved only upon the earlier to occur of one of the following events:
(a) upon the expiration of the Term of this Agreement Company pursuant to Section 2.5; or
(b) upon the sale of all or substantially all of the assets of the Company. The dissolution of the Company by any action not specifically set forth above shall be a dissolution in breach and in contravention of this Agreement.
Dissolving Events. This LLC shall be dissolved upon the occurrence of any one of the following events:
(a) on the dissolution, termination, death or Bankruptcy of a Member unless all Members holding more than fifty percent (50 %) of the remaining Ownership Interests elect to continue the business within ninety (90) days after the occurrence of such event;
(b) on the voluntary sale, condemnation or foreclosure of substantially all of the LLC property;
(c) on the election to dissolve evidenced by the affirmative vote or written consent of all Members; or
(d) on the expiration of the term of the LLC.