Dissolution Procedures. Upon dissolution of the Company at the expiration of the Company term or for any other cause set forth in this Agreement:
Dissolution Procedures. The Education Corporation will: • Create a communication plan for students, families and staff. The communication plan shall take into account timing to ensure students are able to take advantage of other school choice options that may be available. • Provide the Institute with the parent names and addresses of all students enrolled in the school, at the time, by grade to enable the Institute to communicate directly with families regarding the process as necessary. • Transfer all student records, testing materials, etc. to the school district of location of the charter school and make available a copy of such records to each student’s parent or legal guardian. • Designate one or more trustees and/or employees to assist in the closure of the school, from an operational and financial perspective. • Transfer the Education Corporation’s fixed assets (if any, after the payment of all debts) in accordance with the law at the time of dissolution. • Provide the procedures that the school would follow in the event of the closure and dissolution of the Education Corporation including for the transfer of students and student records, execution of a SUNY Closure Plan, and for the disposition of school assets. • Establish an escrow account, in the case of a single-school education corporation, of no less than $75,000 to pay for legal, final audit and other wind up expenses associated with dissolution should it occur. The budget shall reflect this commitment and include funding of $25,000 increments in the school’s first three years of instruction. (Note that a separate reserve fund does need to be established and be reflected separately in the financial statements and notes to the financial statements.) • In the case of an education corporation operating multiple charter schools, the Education Corporation must follow the dissolution reserve fund provisions in its charter agreement and reserve the appropriate amount of funds accordingly.
Dissolution Procedures. 12 Article XII Reports And Financial Accounting . . . . . . . . . . . . . . . 13
Dissolution Procedures. (a) On dissolution of the Company, the Managers, or, if none, the remaining Members, or, if none, a liquidator selected by the assignees owning more than 50% of the outstanding Member Units, shall immediately commence to wind up the Company's affairs. The holders of the Member Units shall continue to share profits and losses during the period of liquidation in accordance with Article 5 hereof.
Dissolution Procedures. (a) On dissolution of the Partnership, the General Partner (or a special liquidator) shall proceed diligently to wind up the affairs o f the Partnership, to liquidate its assets and distribute the proceeds thereofas provided in Section 902(d) and to cause the cancellation of the Partnership's Certificate of Limited Partnership. During the interim, the General Partner (or special liquidator) shall, to the extent consistent with such liquidation and dissolution, continue to operate the business ofthe Partnership, exercising in connection therewith all of the authority o f the General Partner as set forth in this Agreement, but shall have no further authority to bind the Partnership except to wind up its affairs in compliance herewith, .
Dissolution Procedures. (1) If an event occurs that results in a dissolution of the JV Company, then at the time of such event both Parties shall proceed as promptly as practicable to wind-up the affairs of the JV Company and distribute the assets thereof in accordance with the applicable Japanese Commercial Code; provided, however that the assets of the JV Company shall be liquidated in an orderly and businesslike manner so as not to involve undue sacrifice by the JV Company or either Party. A final accounting shall be settled to the satisfaction for both Parties. As a general rule, the assets of the JV Company shall be sold at the time of dissolution; however some or all of the assets of the JV Company may be retained by the JV Company for distribution to the Parties based on the Parties' consent. The fair market value of any assets retained by the JV Company shall then be determined by the Parties' mutual agreement or by such appraisal procedures to which they shall in good faith agree. Any assets retained for distribution in accordance herewith shall be distributed at an agreed value.
Dissolution Procedures. (a) On dissolution of the Company, the Board of Managers, or, if none, the remaining Members, or, if none, a liquidator selected by the assignees owning more than 50% of the outstanding Units, shall immediately commence to wind up the Company's affairs. The holders shall continue to share profits and losses during the period of liquidation in accordance with Article 6 hereof.
Dissolution Procedures. 12 12.02. Purchase of Assets Upon Winding-up .................................13 ARTICLE 13: INDEMNIFICATION ................................................13 13.01. Indemnification ....................................................13 13.02. Insurance ..........................................................13
Dissolution Procedures. 9.1Closing the Partnership
Dissolution Procedures. A. In the event of the voluntary or involuntary dissolution of the Partnership for any reason, all remaining Partners or the surviving Partner shall become the winding-up Partner and be charged with the responsibility of winding up the affairs of the Partnership
