Effects of Dissolution Sample Clauses

Effects of Dissolution. The Company shall be dissolved upon the occurrence of any of the following events:
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Effects of Dissolution. 11.2.1 Before dissolution or termination of the Agreement and the Consortium, any remaining joint and several rights and obligations of Members resulting from this Agreement and in relation to third parties shall be settled by the Assembly. After payment of all expenses and liabilities as authorised by the Assembly, any balance remaining of amounts paid by the Members or amounts derived from the granting of licenses to third parties, shall either be (i) returned to the Members in a pro rata manner based upon the Members’ respective share in the Consortium expenses as at the time of termination, or (ii) distributed as otherwise directed by the Assembly which shall take into account any advice received from the Steering Committee if formed.
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Effects of Dissolution. 11.2.1. Before dissolution or termination of the Platform, any remaining joint and several rights and obligations of Platform Members resulting from this Agreement and in relation to third parties shall be settled by the Steering Committee. However, upon dissolution, all rights and obligations of the Platform Members arising from this Agreement that do not involve assets shall lapse. After payment of all expenses and liabilities as authorised by the Steering Committee, any balance remaining of amounts paid by the Platform Members or amounts derived from the granting of licenses to third parties, shall either be (i) returned to the Platform Members in a pro rata manner based upon the Platform Members’ respective share in the Platform expenses as at the time of termination, or (ii) distributed as otherwise directed by the Steering Committee.‌
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Effects of Dissolution. 21 10.4 Continuation of the Business of the Company After Dissolution . . . . . . . . . . . . . . . . . .22 10.5
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Effects of Dissolution. If the Company is dissolved for any reason set forth in Section 10.1, the dissolution shall give rise to following events:
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Effects of Dissolution 
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Related to Effects of Dissolution

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

  • 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.

  • Articles of Dissolution Upon the dissolution and commencement of the winding up of the Company, the Member shall cause Articles of Dissolution to be executed on behalf of the Company and filed with the Secretary of State, and the Member shall execute, acknowledge and file any and all other instruments necessary or appropriate to reflect the dissolution of the Company.

  • Procedure for Winding Up and Dissolution If the Company is dissolved, the affairs of the Company shall be wound up. On winding up of the Company, the assets of the Company shall be distributed, first, to creditors of the Company in satisfaction of the liabilities of the Company, and then to the person(s) who is/are the Member(s) of the Company in proportion to the Member’s(s’) Interests.

  • Procedures Upon Dissolution Upon dissolution of the Company, the Manager shall wind up the business and affairs of the Company and shall cause all property and assets of the Company to be distributed as follows:

  • Effective Date of Dissolution Any dissolution of the Company shall be effective as of the date on which the event occurs giving rise to such dissolution, but the Company shall not terminate unless and until all its affairs have been wound up and its assets distributed in accordance with the provisions of the Act and the Certificate is cancelled.

  • Notice of Dissolution In the event a Liquidating Event occurs or an event occurs that would, but for the provisions of an election or objection by one or more Partners pursuant to Section 13.1, result in a dissolution of the Partnership, the General Partner shall, within thirty (30) days thereafter, provide written notice thereof to each of the Partners.

  • Distributions on Dissolution and Winding Up Upon the dissolution and winding up of the Company, after adjusting the Capital Accounts for all distributions made under Section 5.01 and all allocations under Article 5, all available proceeds distributable to the Members as determined under Section 11.02 shall be distributed to all of the Members to the extent of the Members' positive Capital Account balances.

  • Certificate of Dissolution After the affairs of the Company have been wound up and the Company terminated, a certificate of dissolution shall be executed and filed in the office of the Delaware Secretary of State.

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