Common use of TERMINATION AND DISTRIBUTION OF ASSETS Clause in Contracts

TERMINATION AND DISTRIBUTION OF ASSETS. This Agreement may be terminated at any time that no financial obligations of the Agency are outstanding, with the approval of two-thirds of the Members. Upon termination of this Agreement, all assets of the Agency shall, after payment of all unpaid costs, expenses and charges incurred under this Agreement, be distributed among the parties to this Agreement, in accordance with the respective contributions of each of the Parties.

TERMINATION AND DISTRIBUTION OF ASSETS. This Agreement may be terminated at any time that no financial bonds, notes, certificates of participation or other obligations of the Agency Authority are outstanding, with the approval of two-thirds of the Members. Upon termination of this Agreement, all assets of the Agency Authority shall, after payment of all unpaid costs, expenses and charges incurred under this Agreement, be distributed among the parties Parties hereto in proportion to this Agreement, in accordance with the respective contributions of made by each of the Parties.