Dissolution of the Joint Venture. 39. The Venture will be dissolved and its assets liquidated in the event of any of the following:
Dissolution of the Joint Venture. The Venture will be dissolved and its assets shall be liquidated in the event of any of the following:
Dissolution of the Joint Venture. Upon the approval of a dissolution of this joint venture, each member shall release the other from any and all further liability hereunder. Except, however, as to such lawful liability, and necessary expense in connection with the contesting thereof, as may be asserted subsequently under this agreement or as a result thereof and for which the parties hereto would have been liable prior to the execution of such release.
Dissolution of the Joint Venture. 1. The Dissolution of the Joint Venture will be carried out pursuant to the provisions of Sections 10.3 through 10.8 of the Joint Venture’s LLC Agreements, as amended by this Second Amendment. Each of Chase and Xxxxxx Xxx agrees to use its best efforts to complete the Dissolution in an efficient, expedient, and professional manner by no later than the Dissolution Date. The parties agree, however, that the legal existence of the Joint Venture shall continue through December 31, 2005 so that expenses incurred in connection with the business of the Marketing LLC and/or the Finance LLC, including the Allowable Servicing Fees pursuant to Section 8 of this Second Amendment, from the Effective Time through December 31, 2005 (the “Dissolution Period”) that are to be shared by Xxxxxx Mae and Chase pursuant to the LLC Agreements, as amended by this Second Amendment, will continue to be expenses of the Marketing LLC and the Finance LLC, as applicable. The LLC Agreements shall terminate at the end of the Dissolution Period.
Dissolution of the Joint Venture. By execution hereof, Buyer and Seller (i) elect to immediately dissolve the Joint Venture pursuant to Section 9.01(c) of the Joint Venture Agreement, and (ii) acknowledge and consent to the termination, as of the Effective Date, of the Ancillary Agreements. Seller hereby authorizes Buyer to take any and all actions which Buyer deems necessary or appropriate to wind up the affairs of, and otherwise liquidate, the Joint
Dissolution of the Joint Venture. The Joint Venture shall be dissolved upon the happening of any of the following events:
