Disposition of Assets on Dissolution Sample Clauses

Disposition of Assets on Dissolution. Promptly after dissolution under Section 14.1, the Manager shall take all action necessary to wind up the activities of the Company, in accordance with Exhibit C. All costs and expenses incurred in connection with the dissolution of the Company shall be expenses chargeable to the Business Account.
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Disposition of Assets on Dissolution. Promptly after dissolution under Section 23.2, the Manager shall take all action necessary to wind up the activities of the Company in accordance with the following steps:
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Disposition of Assets on Dissolution. In addition to dissolution pursuant to Section 14.1, the Company shall be dissolved if the Properties have been mined to Economic Exhaustion. "Economic Exhaustion" shall occur whenever a skilled and prudent miner knowledgeable about the costs and economics of the uranium mining industry would abandon permanently mineral extraction operations on the Properties as uneconomic rather than continue upkeep and maintenance of the Assets on a standby basis. If a Member elects in its sole discretion to advance the funds ("Standby Funds") required for upkeep and maintenance of the Assets for at least one year (which shall be subject to recoupment only from Products subsequently produced), then it shall be conclusively presumed that Economic Exhaustion has not occurred for so long as Standby Funds are sufficient to continue upkeep and maintenance of the Assets on a standby basis.
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Disposition of Assets on Dissolution. Promptly after dissolution of the Company under Section 18.3, the Management Team shall take all action necessary to wind up the activities of the Company, in accordance with Exhibit D. All costs and expenses incurred in connection with the dissolution of the Company shall be expenses recorded in the Company records.
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Disposition of Assets on Dissolution. The duration of this Joint Contract and the existence of the Commission shall be perpetual unless sooner terminated by a vote, evidenced by resolution of the governing body, of at least three-fourths of the Contracting Members provided, however, that this Joint Contract and the existence of the Commission may not in any event be terminated so long as the Commission has any bonds, notes or other obligations outstanding, unless sufficient funds have been set aside irrevocably in trust to satisfy all the outstanding bonds, notes or other obligations of the Commission. Upon termination of the existence of the Commission the property and the assets of the Commission shall be divided and distributed among the Contracting Members which are then parties to this Joint Contract in proportion to the amount of total dues paid; provided however that a Contracting Member who is not a participant of a Project shall have no liability or share of assets of a project of which it is not a participant, unless the Contracting Member and all project participants have expressly agreed in writing to the contrary .
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Disposition of Assets on Dissolution. Promptly after dissolution under SECTION 14.1, the Manager shall take all action necessary to wind up the ------------- activities of the Company, in accordance with EXHIBIT C. All costs and expenses --------- incurred in connection with the dissolution of the Company shall be expenses chargeable to the Business Account.
Sample 1
Disposition of Assets on Dissolution. The provisions for disposition of the corporate assets in the event of dissolution of the corporation including the prioritization of rights of shareholders and members to corporate assets are: On the liquidation or dissolution of the corporation, the officers and trustees of the corporation, after paying or making provision for the payment of all of the corporation’s proper liabilities of the corporation, will distribute all of the corporation’s remaining assets of the corporation exclusively to one or more entities or organizations that are exempt from federal income tax under section 501(c)(3) of the Code, whose purposes fulfill as nearly as possible the purposes of the corporation, as determined by the corporation’s board of trustees. Any assets not so disposed of will be disposed of by the appropriate court of the jurisdiction in which the principal office of the corporation is then located exclusively to one or more other organizations exempt from federal income tax under section 501(c)(3) of the Code whose purposes fulfill as nearly as possible the purposes of the corporation. No part of the net assets of the corporation will be distributed to any trustee, officer, member, or other private individual on the liquidation, dissolution, or winding up of the corporation.
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Related to Disposition of Assets on Dissolution

  • Distribution of Assets on Dissolution Upon the winding up of the Company, the Company Property shall be distributed:

  • Distribution of Assets Upon Dissolution In settling accounts after dissolution, the assets of the Company shall be paid in the following order:

  • Disposition of Assets; Etc The Borrower will not, and will not permit any of its Subsidiaries to, sell, lease, license, transfer, assign or otherwise dispose of any of its business, assets, rights, revenues or property, real, personal or mixed, tangible or intangible, whether in one or a series of transactions, other than inventory sold in the ordinary course of business upon customary credit terms, sales of scrap or obsolete material or equipment, the lapse of intellectual property of the Borrower or any of its Subsidiaries that is no longer useful or material to their business and sales of fixed assets the proceeds of which are used to purchase other property of a similar nature of at least equivalent value within 180 days of such sale, provided, however, that this Section 6.09 shall not (a) prohibit any sale or other transfer of an interest in accounts or notes receivable to a Securitization Entity pursuant to Permitted Securitization Transactions if the aggregate outstanding principal amount of the Indebtedness under all Permitted Securitization Transactions does not exceed $250,000,000, (b) prohibit any sale or other transfer of any asset of the Borrower or any Subsidiary to the Borrower or any Subsidiary that is a Guarantor and (c) prohibit any such sale, lease, license, transfer, assignment or other disposition if the aggregate book value (disregarding any write-downs of such book value other than ordinary depreciation and amortization) of all of the business, assets, rights, revenues and property sold, leased, licensed, transferred, assigned or otherwise disposed of after the Effective Date and on or prior to such transaction date shall be less than 40% of the aggregate book value of the Consolidated Total Assets as of the end of the fiscal year immediately preceding such transaction and the aggregate amount of businesses, assets, rights, revenues and property sold, leased, licensed, transferred, assigned or otherwise disposed of after the Effective date and on or prior to such transaction date shall be responsible for less than 40% of the consolidated net sales or net income of the Borrower and its Subsidiaries for the fiscal year immediately preceding the date of such transaction, and if immediately after any such transaction, no Default shall exist or shall have occurred and be continuing.

  • Disposition of Assets To sell, exchange, lend, pledge, mortgage, hypothecate, write options on and lease any or all of the assets of the Trust;

  • Limitation on Disposition of Assets The Company is, subject to certain conditions, obligated to make an offer to purchase Securities at 100% of their principal amount plus accrued and unpaid interest to the date of repurchase with certain net cash proceeds of certain sales or other dispositions of assets in accordance with the Indenture.

  • Liquidation of Assets We have the right to liquidate assets in your Xxxx XXX if necessary to make distributions or to pay fees, expenses, taxes, penalties, or surrender charges properly chargeable against your Xxxx XXX. If you fail to direct us as to which assets to liquidate, we will decide, in our complete and sole discretion, and you agree to not hold us liable for any adverse consequences that result from our decision.

  • Fundamental Changes; Disposition of Assets The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, enter into any transaction of merger, consolidation or amalgamation, consummate a Division as the Dividing Person, or liquidate, wind up or dissolve themselves (or suffer any liquidation or dissolution), or otherwise make any Disposition of any assets, except:

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