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Term of Venture Sample Clauses

Term of Venture. The existence of the Venture commenced on the date upon which the Certificate was duly filed with the office of the Secretary of State of the State of Delaware and shall continue until terminated in accordance with the provisions of Article 11.
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Term of Venture. The term of the Venture commenced as of the date of filing the Certificate and shall continue until the Venture shall be dissolved, liquidated and terminated pursuant to the provisions of Article 8.
Sample 1
Term of Venture. A. The term of the Venture (the "Term") shall commence as of the date hereof and continue thereafter until the expiration of the Lease. subject to earlier termination as provided herein. Without limiting the foregoing the Term shall terminate (I) upon the terms described in Section 4.D., (ii) upon consummation of the purchase option described in Section 16.A; and(iii) upon any of the events described in Section 8.B. B. Despite the provisions of Section 8.A., the Term of the Venture will cease upon the occurrence of any of the following additional events or conditions: (a) the adjudication of a Member as a bankrupt; (b) the making of an assignment by a Member for the benefit of its creditors; c the institution of any voluntary or involuntary proceedings resulting in the appointment of a receiver for a Member or for any substantial portion of the assets of a Member; or (d) the institution of any voluntary or involuntary proceedings by or against a Member, under any state or federal law(s) providing for the relief of debtors., or re-adjustment of debts resulting in an adjudication of bankruptcy or insolvency. C. Automatically upon the happening of any event described in Section 8.B., the Member to whom the event occurs shall be deemed to have sold its interest in the Venture to the Venture as of the time of the filing of any aforesaid petition or institution of any of said proceedings or procedures. The purchase price of the Interest of such Member shall be the book value of its capital ac count (but not less than zero) at the end of the month prior to the month in which such event condition or proceeding occurs, as such book value is determined for income tax purposes by an independent Certified Public Accountant. Upon any such purchase of Redneck's interest, it is understood that the sublicenses and licenses set forth in Section 4.A. and 4.B. shall terminate and be of no further force of effect. Payment of said price for the interest of such Member shall be made only out of the percentage of profit of the Venture which would have been distributed to such Member had not its interest in the Venture been purchased. In the event any Member whose interest is thus acquired has a negative capital account at such time, the purchase price of his interest shall be $l.00. The terms of this paragraph shall not be construed to create an executory option in future but shall automatically effect a sale, as aforesaid, immediately upon the occurrence of any event or conditi...
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Term of Venture.  The usual events of termination include by agreement, appointment of a receiver or liquidator.  However depending on the circumstances they may also include: (a) an investor’s equity ownership falling below a certain threshold, listing on a stock exchange, completion of the specific project or a specified date.
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Term of Venture 
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Related to Term of Venture

  • Term of Agreement This Agreement becomes effective upon the date of the last signature below ("Effective Date") and shall remain in effect until the completion of all obligations of both Parties hereto, or five years from the Effective Date, whichever comes first.

  • Term and Annual Renewal The term of this Agreement shall be from the date of its approval by the vote of a majority of the Board of each Issuer, and it shall continue in effect from year to year thereafter only so long as such continuance is specifically approved at least annually by the vote of a majority of its Board, and the vote of a majority of those members of the Board who are neither parties to the Agreement nor interested persons of any such party, cast at a meeting called for the purpose of voting on such approval. “Approved at least annually” shall mean approval occurring, with respect to the first continuance of the Agreement, during the 90 days prior to and including the date of its termination in the absence of such approval, and with respect to any subsequent continuance, during the 90 days prior to and including the first anniversary of the date upon which the most recent previous annual continuance of the Agreement became effective. The effective date of the Agreement with respect to each Fund is identified in the Schedule A of this Agreement.

  • Term of Company The Company commenced on the date the Certificate of Formation was properly filed with the Secretary of State of the State of Delaware and shall exist in perpetuity or until its business and affairs are earlier wound up following proper dissolution.

  • Term of Partnership The term of the Partnership commenced on May 21, 2001 and shall continue until dissolved pursuant to Section 8.1 hereof. The legal existence of the Partnership as a separate legal entity continues until the cancellation of the Certificate.

  • Term of Franchise From January 1, 2012 to December 31, 2012.

  • Term of the Company The term of the Company commenced on the Formation Date and shall continue in existence until termination and dissolution thereof as determined under Section 21 of this Agreement; provided that this Agreement shall remain in full force and effect notwithstanding the termination and dissolution of the Company.

  • Term of Engagement (a) This Agreement will remain in effect until April 15, 2010, after which either party shall have the right to terminate it on thirty (30) days prior written notice to the other. The date of termination of this Agreement is referred to herein from time to time as the "Termination Date." The period of time during which this Agreement remains in effect is referred to herein from time to time as the "Term". If, within two years after the Termination Date, the Company completes any private financing of equity or debt or other capital raising activity of the Company (other than the exercise by any person or entity of any options, warrants or other convertible securities other than the warrants issued pursuant to this Agreement) with any of the Investors who were first introduced to the Company in connection with the financing contemplated hereby by Xxxxx and disclosed to the Company in writing prior to its introduction to the Company, the Company will pay to Maxim upon the closing of such financing the compensation set forth in Sections 3(a) as a "Source Fee". (b) Notwithstanding anything herein to the contrary, subject to the two years limitation described in Section 4(a) above, the obligation to pay the compensation and expenses described in Section 3, this Section 4, Sections 5, 7 and 9-17 and all of Exhibit A attached, hereto (the terms of which are incorporated by reference hereto), will survive any termination or expiration of this Agreement. The termination of this Agreement shall not affect the Company's obligation to pay fees to the extent provided for in Section 3 herein and shall not affect the Company's obligation to reimburse the expenses accruing prior to such termination to the extent provided for herein. All such fees and reimbursements due shall be paid to the Placement Agent on or before the Termination Date (in the event such fees and reimbursements are earned or owed as of the Termination Date) or upon the closing of the Offering or any applicable portion thereof (in the event such fees are due pursuant to the terms of Section 3 hereof).

  • Term of MOU This MOU is effective upon the day and date last signed and executed by the duly authorized representatives of the parties to this MOU and the governing bodies of the parties’ respective counties or municipalities and shall remain in full force and effect from April 2, 2018 through June 30, 2018. This MOU may be terminated, with or without cause, by either party during this term.

  • Term of Plan This Plan shall remain in effect until the earlier of (i) termination by the Board, (ii) the distribution of all assets of the Trust, or (iii) 21 years from the Effective Date. Termination of the Plan shall not effect any Plan Share Awards previously granted, and such Plan Share Awards shall remain valid and in effect until they have been earned and paid, or by their terms expire or are forfeited.

  • Term of Contract The term of this Contract shall be one (1) year commencing on the last date of approval by DIR and Vendor. Prior to expiration of the original term, DIR and Vendor may extend the Contract, upon mutual agreement, for up to three (3) optional one-year terms. Additionally, the parties by mutual agreement may extend the term for up to ninety (90) additional calendar days.

Most Referenced Clauses

Most Referenced Definitions