Responsibilities of Managers for Winding Up Sample Clauses

Responsibilities of Managers for Winding Up. The Managers shall be ------------------------------------------- responsible for overseeing the winding up and liquidation of Company, shall take full account of the liabilities and assets of Company, shall cause its assets to be liquidated as promptly as is consistent with obtaining the fair market value thereof, and shall cause the proceeds therefrom, to the extent sufficient therefor, to be applied and distributed as next provided. During the winding-up process, Net Profits and Net Losses will be allocated and distributions will continue to be shared by the Members in accordance with the provisions of the Articles and of this Agreement. Golf shall have a right of last refusal to purchase any or all of such assets and rights.
Sample 1
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Responsibilities of Managers for Winding Up. The Members shall be responsible for overseeing the winding up and liquidation of the Venture, shall take full account of the liabilities and assets of the Venture, shall cause its assets to be liquidated as promptly as is consistent with obtaining the fair market value thereof and shall cause the proceeds therefrom, to the extent sufficient therefor, to be applied and distributed as next provided. During the winding-up process, profits, income and losses will be allocated and distributions will continue to he shared by Members in accordance with this Agreement. Redneck shall have the authority to take all actions to cause the Venture to cease using the Licensed Materials and the Restaurant Rights as soon as practicable.
Sample 1

Related to Responsibilities of Managers for Winding Up

  • Activities of Manager The obligations of Manager pursuant to the terms and provisions of this Management Agreement shall not be construed to preclude Manager from engaging in other activities or business ventures, whether or not such other activities or ventures are in competition with Owner or the business of Owner.

  • Duties and Responsibilities of Manager During the Term of this Agreement, subject to the provisions of Section 3.1, Manager shall provide, in exchange for the Management Fee described herein, all such services as are necessary and appropriate for the day-to-day administration and management of Provider’s business in a manner consistent with good business practice, including, without limitation, those services set forth in this Article 2.

  • Duties of Managers Except as provided in this Agreement, in exercising their rights and performing their duties under this Agreement, the Managers shall have a fiduciary duty of loyalty and care similar to that of a director of a business corporation organized under the General Corporation Law of the State of Delaware.

  • Responsibilities of the Parties 7.1. Rostelecom and the User bear responsibility for non-fulfillment or improper fulfillment of their responsibilities in the Agreement in accordance with the current law of the Russian Federation, (including the Regulations) and the Agreement.

  • Duties of Manager The Manager, at its own expense, shall furnish the following services and facilities to the Trust:

  • Responsibilities of the Sponsor In connection with the issue and sale of the Preferred Securities, the Sponsor shall have the exclusive right and responsibility to engage in the following activities:

  • Responsibilities of Adviser Without limiting the generality of the foregoing, the Adviser shall, during the term and subject to the provisions of this Agreement:

  • Responsibilities of the Company 11.1 The Company agrees that it will perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and delivered all such further and other acts, documents, instruments and assurances as may reasonably be required by the Transfer Agent for the carrying out, or performing by the Transfer Agent of the provisions of this Agreement.

  • Responsibilities of Sub-Adviser In carrying out its obligations under this Agreement, the Sub-Adviser agrees that it will:

  • Responsibilities of the Transfer Agent The Transfer Agent undertakes the duties and obligations imposed by this Agreement upon the following terms and conditions, by all of which the Fund, by its acceptance hereof, shall be bound:

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