Remaining Assets Clause Samples
The Remaining Assets clause defines how any assets left after fulfilling all debts and obligations are to be distributed, typically upon the dissolution or winding up of an entity. In practice, this clause specifies the order and manner in which leftover property, funds, or other resources are allocated among shareholders, members, or other stakeholders. Its core function is to ensure a clear and fair process for asset distribution, preventing disputes and ambiguity when an organization ceases operations.
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Remaining Assets. In the event that the School closes, the School shall return any remaining public assets to the State, provided that any outstanding obligations of the School are fulfilled first pursuant to Section 302D-19, HRS. APPENDICES Exhibit A: Educational Program Exhibit B: Performance Frameworks (Academic, Financial, and Organizational) Exhibit C: Education Service Provider Requirements Exhibit D: Intervention Protocol Exhibit E: Renewal, Non-renewal, and Revocation Exhibit A: Educational Program School Name: Kanuikapono Public Charter School Shortened School Name: KANU PCS Mission and Vision: To nurture lifelong learners able to embrace the world of our ancestors and the 21st century; skilled and community minded with aloha and respect for self, family, and the environment. To cultivate the 21st century learning community, grounded in native education and community renewal. Essential Term #1: Our learning `ohana will practice and perpetuate Hawaiian language, values, culture, arts, and history. Essential Term #2: Students will demonstrate a strong set of core academic skills and behaviors. Essential Term #3: Students will actively support their community and environment through civic leadership, aloha `åina, and stewardship. Essential Term #4: Students will solve complex problems using appropriate processes and procedures. Essential Term #5: Students exhibit self-confidence, readiness to face challenges and demonstrate the ability to work and think independently as well as to collaborate and cooperate with others. Targeted Geographic Area: Kauai Instructional Sites and Maximum Occupancy: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇., ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇: 320 Educational Service Provider: N/A Does the school have a virtual learning program? □ Yes X No Maximum enrollment of the virtual learning program: Maximum percentage of total student population enrolled in the virtual learning program: Grades served by the virtual learning program: _______ Does the school have a blended learning program? □ Yes X No Maximum enrollment of the blended learning program: Maximum percentage of total student population enrolled in the blended learning program: [ Grades served by the blended learning program: Exhibit B: Performance Frameworks (Academic, Financial, and Organizational) The Academic Performance Framework consists of two sections: Student Academic Outcomes and Value Added.
Remaining Assets. In the event that the School closes, the School shall return any remaining public assets to the State, provided that any outstanding obligations of the School are fulfilled first pursuant to Sec. 302D-19, HRS.
Remaining Assets. All remaining assets of the Company shall be distributed to the Holders in accordance with Section 4.2(b) by the end of the Taxable Year of the Company during which the liquidation of the Company occurs (or, if later, 90 days after the date of the liquidation). All distributions in kind to the Holders shall be made subject to the liability of each distributee for costs, expenses and liabilities theretofore incurred or for which the Company has committed prior to the date of termination, and those costs, expenses and liabilities shall be allocated to the distributees pursuant to this Section 11.2. The distribution of cash and/or property to a Holder in accordance with the provisions of this Section 11.2 constitutes a complete return to the Holder of its Capital Contributions and a complete distribution to the Holder of its interest in the Company and all of the Company’s property and constitutes a compromise to which all Members have consented within the meaning of the Act. To the extent that a Holder returns funds to the Company, it has no claim against any other Holder for those funds.
Remaining Assets. After the payment to the holders of Preferred Stock of the full amounts specified in Sections 3(a), 3(b), 3(c), 3(d) and 3(e) above, the entire remaining assets of the Corporation legally available for distribution shall be distributed pro rata to holders of the Common Stock of the Corporation in proportion to the number of shares of Common Stock held by them.
Remaining Assets. On mutual agreement between TI and the Attorney General of New York, a not-for-profit health or child welfare organization will be named as the beneficiary of any TI assets that remain after lawful transfers of assets and satisfaction of TI's employee benefit obligations and any other debts, liabilities or claims.
Remaining Assets. In the event of any Liquidation Event, after the payment or setting aside for payment to the holders of Flash Preferred of the full Liquidation Preference Amount, the entire remaining assets of the Corporation legally available for distribution shall be distributed pro rata to holders of the Common Stock of the Corporation in proportion to the number of shares of Common Stock held by them.
Remaining Assets. After payment or setting aside for payment of the full amounts specified in this Section 2 to the holders of the Series A Preferred Stock, any remaining assets of the Corporation legally available for distribution shall be distributed pro rata to the holders of Common Stock in proportion to the number of shares of Common Stock held by them.
Remaining Assets. After the payment to the Holders of Series B Preferred Stock and Series B1 Preferred Stock of the full preferential amounts specified above, the entire remaining assets of the Corporation legally available for distribution by the Corporation shall be distributed with equal priority and pro rata among the holders of Common Stock and other junior securities in proportion to the number of shares of Common Stock and junior securities held by them.
Remaining Assets. Upon the completion of the distribution ---------------- required by Section 2(a) above, if assets remain in the Corporation, the holders of the Common Stock of the Corporation shall receive all of the remaining assets of the Corporation pro rata based on the number of shares of Common Stock held by each.
Remaining Assets. After payment or setting apart of payment of the Series A Liquidation Preference, the holders of the Series A Preferred Stock and the holders of the Common Stock shall be entitled to receive the remaining assets of the corporation pro rata based on the number of shares of Common Stock held by each such holder (assuming full conversion of all the Series A Preferred Stock).