Common use of Disposition of Property Upon Termination and Dissolution Clause in Contracts

Disposition of Property Upon Termination and Dissolution. 24 Upon termination of xxxxx Agreement, and dissolution, any surplus money on hand shall be 25 returned in proportion to the contributions made by the Parties who are still active members at the 1 time of termination and dissolution. Upon termination, title to all property, including facilities, 2 buildings, materials and equipment owned by a Party upon execution of the Agreement shall 3 remain the property of that Party. All property acquired by the Library JPA during the term of this 4 Agreement shall upon dissolution of the JPA become the property of the Library System.

Disposition of Property Upon Termination and Dissolution. 24 14 Upon termination of xxxxx the Agreement, and dissolution, any surplus money on hand shall be 25 15 returned in proportion to the contributions made by the Parties who are still active members at the 1 16 time of termination and dissolution. Upon termination, title to all property, including facilities, 2 17 buildings, materials and equipment owned by a Party upon execution of the Agreement shall 3 18 remain the property of that Party. All property acquired by the Library JPA during the term of this 4 19 Agreement shall upon dissolution of the JPA become the property of the Library System.