Dissolution, Winding-up, Liquidation Sample Clauses
The 'Dissolution, Winding-up, Liquidation' clause outlines the procedures and conditions under which a company or partnership is formally brought to an end. It typically details the steps for ceasing operations, settling outstanding debts, distributing remaining assets to stakeholders, and filing necessary legal documents. This clause ensures that all parties understand the orderly process for closing the business, thereby minimizing disputes and clarifying responsibilities during the termination phase.
Dissolution, Winding-up, Liquidation. A court or other governmental authority of competent jurisdiction enters an order (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to the Borrower or any substantial part of its assets, (ii) for relief or approving a petition for relief, reorganization or any other petition in bankruptcy or for liquidation of the Borrower or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar law of any jurisdiction or (iii) for the dissolution, winding-up or liquidation of the Borrower, or any such petition shall be filed against the Borrower and not be dismissed within ninety (90) days.
Dissolution, Winding-up, Liquidation. Causes Of Dissolution. The partnership shall be dissolved on the happening of any of the following events: Withdrawal, retirement, or expulsion of any partner; Death, disablility, or bankruptcy, of any partner; Incapacity of any partner to continue in the practice of law in Georgia, whether by physical or mental incapacity, suspension, or disbarment; or Unanimous agreement of the parties.
Dissolution, Winding-up, Liquidation. CH ANGE IN BUSINESS FORM
Dissolution, Winding-up, Liquidation