LIQUIDATION OF THE FUND. (a) The Fund may not be liquidated except by decision of the Board of Governors. In an emergency, if the Executive Directors decide that liquidation of the Fund may be necessary, they may temporarily suspend all transactions, pending decision by the Board.
(b) If the Board of Governors decides to liquidate the Fund, the Fund shall forthwith cease to engage in any activities except those incidental to the orderly collection and liquidation of its assets and the settlement of its liabilities, and all obligations of members under this Agreement shall cease except those set out in this Article, in Article XVIII, paragraph (c), in Schedule D, paragraph 7, and in Schedule E.
(c) Liquidation shall be administered in accordance with the provisions of Schedule E.
LIQUIDATION OF THE FUND. The Fund may not be liquidated except by decision of the Board of Governors. In an emergency, if the Executive Board decides that liquidation of the Fund may be necessary, it may temporarily suspend all operations and transactions, pending decision by the Board of Governors.
LIQUIDATION OF THE FUND. On dissolution of the Fund, the Board of Directors shall have full power and authority to liquidate and distribute (in cash or in kind) the net assets of the Fund to the Investors in accordance with SECTION 5.10. Any such distribution shall be made solely from the Fund's assets. Each Investor shall be furnished with a statement which shall set forth the assets and liabilities of the Fund as at the date of complete liquidation, and each Investor's share thereof. Following the distribution of the Fund's assets, the Investors shall cease to be such, and a certificate of cancellation for the Fund shall be filed with the State of Delaware.
LIQUIDATION OF THE FUND. On dissolution of the Fund, the Board of Directors shall have full power and authority to liquidate and distribute (in cash or in kind) the net assets of the Fund to the Investors in accordance with SECTION 5.
LIQUIDATION OF THE FUND. 21 ARTICLE 9 -
LIQUIDATION OF THE FUND. On dissolution of the Fund, the Board of Directors shall have full power and authority to liquidate and distribute (in cash or in kind) the Net Assets of the Fund to the Investors in accordance with Section 5.9. Any such distribution shall be made solely from the Fund's assets. Each Investor shall be furnished with a statement which shall set forth the assets and liabilities of the Fund as at the date of complete liquidation, and each Investor's share thereof. Following the payment or discharge, or the making of reasonable provision for the payment or discharge, of the Fund's liabilities (including contingent liabilities), and the distribution of the Fund's assets, the Investors shall cease to be such, and a certificate of cancellation for the Fund shall be filed with the office of the Secretary of State of the State of Delaware.
LIQUIDATION OF THE FUND. At the Effective Time of the Reorganization, the Fund will liquidate and the UAM Xxxxxxx Shares (both full and fractional) received by the Fund will be distributed to the shareholders of record as of the Effective Time of the Reorganization of the Fund in exchange for their respective Acquired Fund Shares. Each shareholder of the Fund shall receive a number of UAM Xxxxxxx Shares of the corresponding class equal to the number of Acquired Fund Shares of the particular class held by that shareholder at the Effective Time of the Reorganization. UAM Trust shall establish an open account on the share records of the UAM Xxxxxxx Portfolio in the name of each shareholder of the Fund and representing the respective number of UAM Xxxxxxx Shares of each class due such shareholder. At the Effective Time of the Reorganization, the net asset value per share of each class of the UAM Xxxxxxx Portfolio shall be deemed to be the same as the net asset value per share of each corresponding class of the Fund. As soon as practicable after the Effective Time of the Reorganization, the Xxxxxxx Trust shall take, in accordance with Massachusetts law, all steps as shall be necessary and proper to effect a complete dissolution and deregistration of the Xxxxxxx Trust.
LIQUIDATION OF THE FUND a) The Fund shall be liquidated in the event of the expiry or cessation of this Agreement by the progress of time or any other cause, and if no subsequent Agreement is negotiated for continued operation of the Fund, or if said Fund is not transferred by the Council, within 12 months from the date of expiry of the Agreement, to any other Fund formed for the same purpose.
b) Upon liquidation of the Fund in terms of paragraph a) above, the monies remaining to the credit of the Fund after payment of claims, including administration expenses, shall be paid into the general funds of the Council.
LIQUIDATION OF THE FUND. Immediately following the exchange of the Common Fund's Assets for Shares of the Portfolio at the Transfer Time (the "Exchange"), Firstar shall distribute the Shares to the Accounts in complete liquidation of their respective interests in the Common Fund. The Shares so distributed from the Common Fund will be allocated to each Account on a pro rata basis in accordance with its proportionate interest in the Common Fund immediately before the Exchange.
LIQUIDATION OF THE FUND. Article Forty:
(a) The Fund may terminate its operations by a decision taken by a three- fourths majority of total voting power.
(b) Withdrawal of all Members in accordance with Article 35 of this Agreement shall be construed as termination of the operations of the Fund.
(c) Upon taking a decision to terminate its operations, as provided for in paragraph (a) and (b) of this Article, the Fund shall forthwith cease all its activities save those connected with the safe recovery of its assets, their conservation and maintenance and the settlement of its obligations. The Fund shall remain in existence pending the final settlement of its liabilities and the distribution of its assets.
(d) The mutual rights and liabilities of the Fund and of the Members under this Agreement shall remain intact, no Member may withdraw, nor may its membership be suspended or terminated, nor may any assets of the Fund be distributed among Members except within the limits permitted by this Agreement, in such an eventuality.
(e) Distribution of the net assets of the Fund shall be made in proportion to each Member’s shareholding. Such distribution shall be made in cash or in other assets.
(f) To protect the rights of Member States in case where time variation in payment of capital installments occurs, the ownership rights shall be time-weighted and applied in calculating the shares of Member States in annual net income, retained earnings and reserves.
