Effect of disposition or dissolution Sample Clauses

Effect of disposition or dissolution. In the event of a disposition of the Project by sale, lease, assignment, foreclosure or otherwise, or upon the dissolution of Owner, any funds remaining in the Operating Reserves (funded with Operating Subsidy or Public Housing Tenants’ rents) will be transferred to the new owner to be used in connection with the Project, or returned to the Authority for use in carrying out other public housing activities. Upon the occurrence of a casualty or condemnation (without restoration), of all of the Project Units, all funds remaining in the Operating Reserves (including any income earned thereon) will be returned to the Authority for use in carrying out other public housing activities.
Sample 1
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Effect of disposition or dissolution. In the event of a disposition of the Development by sale, lease, assignment, foreclosure or otherwise, or upon the dissolution of the Owner, any funds remaining in the Reserve for Replacement will be transferred to the new owner or otherwise continue to be used in connection with the Development in accordance with the terms of this Agreement including, but not limited to, the requirements of this section 4.5. Upon the occurrence of a casualty or condemnation (without restoration), of all of the Project Units, all funds remaining in the Reserve for Replacement (including any income earned thereon) will be returned to the Authority for use in carrying out other low income housing activities.
Sample 1
Effect of disposition or dissolution. In the event of a disposition of the Project by sale, lease, assignment, foreclosure or otherwise, or upon the dissolution of the Owner, any Project funds remaining in the Reserve for Replacement (the source of which is either Operating Subsidy or Public Housing Tenants’ rents) will be transferred to the new owner to be used in connection with the Project or returned to the Authority for use in carrying out other public housing activities. Upon the occurrence of a casualty or condemnation (without restoration), of all of the Project Units, all Project funds remaining in the Reserve for Replacement (the source of which is either Operating Subsidy or Public Housing Tenants’ rents) (including any income earned thereon) will be returned to the Authority for use in carrying out other public housing activities.
Sample 1

Related to Effect of disposition or dissolution

  • Effect of Dissolution Except as otherwise provided in this Agreement, upon the dissolution of the Company, the Sole Member shall take such actions as may be required pursuant to the Act and shall proceed to wind up, liquidate and terminate the business and affairs of the Company. In connection with such winding up, the Sole Member shall have the authority to liquidate and reduce to cash (to the extent necessary or appropriate) the assets of the Company as promptly as is consistent with obtaining fair value therefor, to apply and distribute the proceeds of such liquidation and any remaining assets in accordance with the provisions of Section 8.3, and to do any and all acts and things authorized by, and in accordance with, the Act and other applicable laws for the purpose of winding up and liquidation.

  • Timing of Disposition Data shall be disposed of by the following date: As soon as commercially practicable By (Insert Date]

  • Extent of Disposition Disposition is partial. The categories of data to be disposed of are set forth below or are found in an attachment to this Directive: [Insert categories of data here] Disposition is Complete. Disposition extends to all categories of data.

  • Data Disposition When the contracted work has been completed or when the Data is no longer needed, except as noted above in Section 5.b, Data shall be returned to DSHS or destroyed. Media on which Data may be stored and associated acceptable methods of destruction are as follows: Data stored on: Will be destroyed by: Server or workstation hard disks, or Removable media (e.g. floppies, USB flash drives, portable hard disks) excluding optical discs Using a “wipe” utility which will overwrite the Data at least three (3) times using either random or single character data, or Degaussing sufficiently to ensure that the Data cannot be reconstructed, or Physically destroying the disk Paper documents with sensitive or Confidential Information Recycling through a contracted firm, provided the contract with the recycler assures that the confidentiality of Data will be protected. Paper documents containing Confidential Information requiring special handling (e.g. protected health information) On-site shredding, pulping, or incineration Optical discs (e.g. CDs or DVDs) Incineration, shredding, or completely defacing the readable surface with a coarse abrasive Magnetic tape Degaussing, incinerating or crosscut shredding

  • Nature of Disposition Disposition shall be by destruction or deletion of data. Disposition shall be by a transfer of data. The data shall be transferred to the following site as follows: [Insert or attach special instructions]

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

  • Disposition of Property Dispose of any of its property, whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell any shares of such Subsidiary’s Capital Stock to any Person, except:

  • Final Disposition Notwithstanding any other provision in this Agreement, no determination as to entitlement to indemnification under this Agreement shall be required to be made prior to the final disposition of the Proceeding.

  • Acquisition of Property The Contractor shall document that all property was acquired consistent with its engineering, production planning, and property control operations.

  • Dissolution of Entity The Contractor shall notify the County immediately of any intention to discontinue existence of the entity or to bring an action of dissolution.

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