Common use of Organizational Transition Clause in Contracts

Organizational Transition. Local Church shall take all steps necessary to close and/or dissolve any legal entities of the Local Church and to settle, liquidate, or transfer all assets and obligations of such entities, or to establish any new legal entities, or to modify its current organizing documents as needed to effectuate its disaffiliation from The United Methodist Church, to the satisfaction of Annual Conference.

Organizational Transition. Local Church shall take all steps necessary to close and/or dissolve any legal entities of the Local Church and to settle, liquidate, or transfer all assets and obligations of such entities, or to establish any new legal entities, or to modify its current organizing documents documents, as needed to effectuate its disaffiliation from The United Methodist Church, Church to the satisfaction of Annual Conference.

Organizational Transition. Local Church shall take all steps necessary to close and/or dissolve and wind up any legal entities of the Local Church and to settle, liquidate, or transfer all assets and obligations of such entities, or and to establish any new legal entities, or to modify its current organizing documents entities as needed to effectuate its disaffiliation from The United Methodist Church, to the satisfaction of Annual Conference. Local Church shall indemnify, defend, and hold harmless Annual Conference and its officers, directors, agents, and employees from any liability or costs (including reasonable attorney fees) resulting from any claim, action, or cause of action for damages to persons or property resulting from Local Church’s failure to take all necessary steps as required by this Agreement.