Separation of a Tori Belle Business Sample Clauses

Separation of a Tori Belle Business. Affiliates sometimes operate their Tori Belle Businesses as spousal partnerships, regular partnerships, corporations, trusts, or other Business Entities. At such time as a marriage may end in divorce or a corporation, partnership, trust or other Business Entity may dissolve, arrangements must be made to assure that any separation or division of the business is accomplished so as not to adversely affect the interests and income of other businesses in their up or Downline. During the divorce or entity dissolution process, the parties must adopt one of the following methods of operation: • One of the parties may, with consent of the other(s), operate their Tori Belle Business pursuant to an assignment in writing whereby the relinquishing spouse, shareholders, partners or trustees authorize Tori Belle Cosmetics to deal directly and solely with the other spouse or non-relinquishing shareholder, partner or trustee; or • The parties may continue to operate their Tori Belle Business jointly on a “business-as-usual” basis, whereupon all compensation paid by Tori Belle Cosmetics will be paid according to the status quo as it existed prior to the divorce filing or dissolution proceedings. This is the default procedure if the parties do not agree on the format set forth above. Under no circumstances will the downline organization of divorcing spouses or a dissolving business entity be divided. Similarly, under no circumstances will the Company split commission and bonuses between divorcing spouses or members of dissolving entities. The Company will recognize only one downline organization and will issue only one commission payment per Tori Belle Business per commission cycle. Commission payments shall always be issued to the same individual or entity. In the event that parties to a divorce or dissolution proceeding are unable to resolve a dispute over the disposition of commissions and ownership of the business in a timely fashion, within 30 days of dissolution of marriage or business relationship or as determined by the Company, the Affiliate Agreement shall be involuntarily cancelled. If a former spouse has completely relinquished all rights in the original business pursuant to a divorce, they are thereafter free to enroll under any of their choosing without waiting three (3) calendar months. In the case of business entity dissolutions, the former partner, shareholder, member, or other entity Affiliate who retains no interest in the business must wait three (3) cale...
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Related to Separation of a Tori Belle Business

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