Common use of Effect of Commencement of Dissolution Proceedings Clause in Contracts

Effect of Commencement of Dissolution Proceedings. After the commencement of dissolution, the Company shall cease to carry on its business, except insofar as may be necessary to complete the winding up of its affairs, but its separate existence shall continue until a certificate of cancellation has been filed with the Delaware Secretary of State pursuant to Section 11.5 or until a decree dissolving the Company has been entered by a court of competent jurisdiction.

Effect of Commencement of Dissolution Proceedings. After the commencement of dissolutiondissolution proceedings, the Company shall cease to carry on its business, except insofar as may be necessary to complete the winding up of its affairs, but its separate existence shall continue until a certificate of cancellation has been filed with the Delaware Secretary of State pursuant to Section 11.5 12.5 or until a decree dissolving the Company has been entered by a court of competent jurisdiction.