Common use of Notice of Dissolution/Termination Clause in Contracts

Notice of Dissolution/Termination. (a) In the event a Dissolution Event occurs or an event occurs that would, but for provisions of Section 12.1, result in a dissolution of the Joint Sales Company, the Board of Directors shall, within thirty (30) days thereafter, provide written notice thereof to each of the Members and to all other parties with whom the Joint Sales Company regularly conducts business (as determined in the discretion of the Board of Directors) and shall publish notice thereof in a newspaper of general circulation in each place in which the Joint Sales Company regularly conducts business (as determined in the discretion of the Board of Directors). (b) Upon completion of the distribution of the Joint Sales Company's Property as provided in this Section 12, the Joint Sales Company shall be terminated, and the Liquidator shall cause the filing of the Certificate of Cancellation pursuant to Section 18-203 of the Act and shall take all such other actions as may be necessary to terminate the Joint Sales Company.

Notice of Dissolution/Termination. (a) In the event a Dissolution Event occurs or an event occurs that would, but for the provisions of Section 12.112.01, result in a dissolution of the Joint Sales Company, the Board of Directors Managers shall, if it determines such to be appropriate under the circumstances, within thirty (30) days thereafter, provide written notice thereof to each of the Members and to all other parties with whom the Joint Sales Company regularly conducts conducted business (as determined in the discretion of the Board of DirectorsManagers) and shall publish notice thereof in a newspaper of general circulation in each place in which the Joint Sales Company regularly conducts business (as determined in the discretion of the Board of DirectorsManagers). (b) Upon completion of the distribution of the Joint Sales Company's Property property as provided in this Section Article 12, the Joint Sales Company shall be terminated, and the Liquidator shall cause the filing of the Certificate of Cancellation pursuant to Section 18-203 of the Act and shall take all such other actions as may be necessary to terminate the Joint Sales Company.