Date of Dissolution Clause Samples
The Date of Dissolution clause establishes the specific date on which a partnership, corporation, or other legal entity is formally terminated or dissolved. This clause typically outlines how the dissolution date is determined, such as by mutual agreement, the occurrence of a triggering event, or the expiration of a set term. By clearly defining when the entity ceases to exist, the clause provides certainty for winding up affairs, distributing assets, and ending legal obligations, thereby preventing disputes over the timing and process of dissolution.
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Date of Dissolution. Dissolution of the Company shall be effective on the day on which the event occurs giving rise to the dissolution, but the Company shall not terminate until the assets of the Company have been liquidated and distributed as provided herein. Notwithstanding the dissolution of the Company, prior to the termination of the Company the business of the Company and the rights and obligations of the Members, as such, shall continue to be governed by this Agreement.
Date of Dissolution. The Company shall have perpetual existence unless the Company is dissolved pursuant to Article 10 hereof. The existence of the Company as a separate legal entity shall continue until cancellation of the Certificate in the manner required by the Act.
Date of Dissolution. The duration of the Company shall be perpetual.
Date of Dissolution. Dissolution of the Fund will be effective on the day on which the event occurs giving rise to the dissolution, but the Fund will not terminate until the assets of the Fund have been liquidated and distributed as provided in this Agreement. Prior to a dissolution pursuant to Section 10.1, the Manager, in its sole discretion, may extend the period of time between the date of Closing and the Outside Date by unlimited successive one-year periods. Notwithstanding the dissolution of the Fund, prior to the termination of the Fund, the business of the Fund and the rights and obligations of the Members will continue to be governed by this Agreement.
Date of Dissolution. The term of the Company shall continue until the close of business on August 1, 2032 or until the earlier dissolution under Article 10 hereof. The existence of the Company as a separate legal entity shall continue until cancellation of the Certificate in the manner required by the Act.
Date of Dissolution. Dissolution of the Fund will be effective on the day on which the event occurs giving rise to the dissolution, but the Fund will not terminate until the assets of the Fund have been liquidated and distributed as provided in this Agreement. Prior to a dissolution pursuant to Article IX.1, the Administrator, at the Organizer’s instruction, may extend the period of time between the date of Closing and the Outside Date by unlimited successive one-year periods, which extensions shall be automatic if the Administrator takes action to continue to administer the business activities of the Fund after the termination of the initial 10-year term or any successive one-year period thereafter. Notwithstanding the dissolution of the Fund, prior to the termination of the Fund, the business of the Fund and the rights and obligations of the Members will continue to be governed by this Agreement.
Date of Dissolution. 11 2.6 Qualification.............................................. 12
Date of Dissolution. 10 2.6 Qualification.................................................................................... 10 2.7 Members.......................................................................................... 10 2.8
Date of Dissolution. The Partnership shall be terminated and dissolved when all of its assets have been converted into cash, all promissory notes or other evidences of indebtedness derived by the Partnership from such conversion of its assets have been collected or otherwise converted into cash and all such cash has been applied and distributed in accordance with the provisions of Section 12(b). The establishment of any reserves in accordance with the provisions of Section 10(e) shall not have the effect of extending the term of the Partnership, but any amount remaining in such reserves shall be distributed in the manner provided in Section 10(e) upon expiration of a reasonable period of time established by the Liquidator when it sets up such reserve.
Date of Dissolution. The Company will be terminated and dissolved when all of the Company’s assets have been applied and distributed in accordance with the provisions of Section 10.2. As promptly as practicable after the winding up of the Company has been completed, the President and General Manager on behalf of the Company shall cause the Certificate to be cancelled in accordance with the Delaware Act.