Disposition of Property Upon Termination. Upon termination of this Agreement, the assets of the Agency shall be transferred to the Agency’s successor, provided that a public entity will succeed the Agency, or in the event that there is no successor public entity, to the Members and Affiliated Parties in proportion to the contributions made by each Member or Affiliated Party. If the successor public entity will not assume all of the Agency’s assets, the Board shall distribute the Agency’s assets between the successor entity and the Members and Affiliated Parties in proportion to the any obligation required by Articles 5.1 or 5.6.
Appears in 4 contracts
Samples: Joint Exercise of Powers Agreement, Joint Exercise of Powers Agreement, Joint Exercise of Powers Agreement
