Dissolution Arrangements Sample Clauses

Dissolution Arrangements. 7.1 Members of the Pool are able to service notice to leave the Pool if they decide it does not serve their interests at any time, but should only do so in accordance with the arrangements set out in this agreement. ⮚ For a dissolution prior to the start of the Financial year, a notification to leave the Pool must be served on the other Members (and any other interested party) no later than five working days (following the draft Local Government Finance Report being published in the relevant year). On receipt of such notice a meeting of the Pool Board shall be convened (if not already scheduled) to meet within a further five working days. If one member withdraws then the Pool will automatically be dissolved. ⮚ For a dissolution in the following Financial year, a notification to leave must be served on Pool Members (and any other interested party) and a meeting of the Pool Board will be held within 1 month of such a notice and subsequently the Department of Communities and Local Government so notified. Once a Pool has been designated and the Local Government Finance Report laid before Parliament, Government will not permit any Pool to be revoked for the entire period of that year and dissolution can only take effect from the following financial year.
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Dissolution Arrangements. 6.1 Criteria
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Dissolution Arrangements. 7.1 Criteria 21 7.2 Financial liability on dissolution 21 7.3 Transfer of Staff 22 7.4 Assets 22 7.5 Property 22
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Dissolution Arrangements 
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Related to Dissolution Arrangements

  • Dissolution and Winding Up of the Company Dissolution. The Company will be dissolved on the happening of any of the following events: Sale, transfer, or other disposition of all or substantially all of the property of the Company; The agreement of all of the Members; By operation of law; or The death, incompetence, expulsion, or bankruptcy of a Member, or the occurrence of any event that terminates the continued membership of a Member in the Company, unless there are then remaining at least the minimum number of Members required by law and all of the remaining Members, within 120 days after the date of the event, elect to continue the business of the Company.

  • Dissolution and Liquidation (Check One)

  • Dissolution The Company shall be dissolved and its affairs shall be wound up on the first to occur of the following:

  • Winding Up Upon dissolution of the Company, the Company shall continue solely for the purposes of winding up its business and affairs as soon as reasonably practicable. Promptly after the dissolution of the Company, the Manager shall immediately commence to wind up the affairs of the Company in accordance with the provisions of this Agreement and the Act. In winding up the business and affairs of the Company, the Manager may, to the fullest extent permitted by law, take any and all actions that it determines in its sole discretion to be in the best interests of the Members, including, but not limited to, any actions relating to (i) causing written notice by registered or certified mail of the Company’s intention to dissolve to be mailed to each known creditor of and claimant against the Company, (ii) the payment, settlement or compromise of existing claims against the Company, (iii) the making of reasonable provisions for payment of contingent claims against the Company and (iv) the sale or disposition of the properties and assets of the Company. It is expressly understood and agreed that a reasonable time shall be allowed for the orderly liquidation of the assets of the Company and the satisfaction of claims against the Company so as to enable the Manager to minimize the losses that may result from a liquidation.

  • Dissolution and Termination (a) The Company shall not be dissolved by the admission of Substitute Members or Additional Members. The Company shall dissolve, and its affairs shall be wound up, upon:

  • Events of Dissolution The Company shall be dissolved upon the happening of any of the following events:

  • Liquidation The approval by the shareholders of the Company of a complete liquidation of the Company or an agreement or series of agreements for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than factoring the Company’s current receivables or escrows due (or, if such approval is not required, the decision by the Board to proceed with such a liquidation, sale, or disposition in one transaction or a series of related transactions); or

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