Termination and Winding Up. The Company shall terminate upon the election of the Member in writing to terminate the Company. At such time, the Company shall cease to carry on its business, except insofar as may be necessary for the winding up of its affairs, but its separate existence shall continue until a Certificate of Cancellation has been filed with the Secretary of State of Delaware or until a decree dissolving the Company has been entered by a court of competent jurisdiction. The filing of Certificate of Cancellation shall not affect the limited liability of the Member.
Termination and Winding Up. The Trust may be terminated: (a) on the date the Trust has discharged all obligations required of it under the Settlement Agreement (either because no Trust Estate remains in the Trust, or because all of the Trust’s obligations have been discharged pursuant to the Settlement Agreement), or (b) the Court orders termination of the Trust. Should New GM or the Trustee determine that the Trust may be properly terminated pursuant to this Article VIII, such party may submit a petition for termination of the Trust to the Court. After reviewing the petition and in accordance with the Settlement Agreement, the Court may terminate the Trust or may order the Trust to undertake such further actions as the Court deems necessary and appropriate pursuant to the Settlement Agreement. Subject to the Settlement Agreement, the Trustee shall finalize distributions from the Trust Estate in accordance with Article III, Section 3-1. The Trustee is authorized, upon such final distribution of the Trust Estate, to take appropriate steps to wind down the Trust and thereafter the Trustee is discharged from any further responsibility with respect to the Trust.
Termination and Winding Up. (a) As expeditiously as possible following the occurrence of an event giving rise to a termination and winding up of the Joint Venture pursuant to the terms hereof, the Management Committee shall designate a “Liquidating Trustee” who shall promptly proceed to wind up and terminate the business and affairs of the Joint Venture. Subject to the direction and control of the Management Committee, the Liquidating Trustee shall have such powers as may be necessary during the period of winding up to continue operating the System in the normal course to the extent appropriate for the purpose of winding up the business and affairs of the Joint Venture and liquidating the assets thereof in an orderly manner, but the Joint Venture shall not engage in any new business during the period of winding up. In winding up the Joint Venture, the Liquidating Trustee shall distribute the assets of the Joint Venture as described below:
Termination and Winding Up. (a) If the Partnership is dissolved pursuant to this Article XII, the Liquidator shall wind up the Partnership's Business, shall proceed to cause the Assets to be sold and shall distribute the Liquidation Proceeds as provided under Section 6.2 herein. During such period, the business and affairs of the Partnership shall be conducted so as to maintain and preserve the Partnership Assets in a manner consistent with the orderly Liquidation and Dissolution of the Partnership.
Termination and Winding Up. 17.1 Each of the following events shall be an Event of Default:
Termination and Winding Up. 18.1 Termination of this AGREEMENT This AGREEMENT shall be terminated for the following reasons:
Termination and Winding Up. As set forth in Section II above, either party may give written notice to the other party after January 1st and before February 1st of any given year of its intent to terminate and election not to renew this Agreement, with such termination being effective June 30th of said year. This Agreement shall also terminate at any time upon the written Agreement of both the County and the District Court to terminate this Agreement. This Agreement shall automatically terminate whenever funds are no longer available to the District Court to reimburse the County for the Alternative Court Programs staff’s payroll costs and such condition shall be deemed to exist upon written notice to the County by the District Court or upon failure of the District Court to satisfy within ten (10) days its Section 7.2 reimbursement obligation to the County after receipt of written notice by the County that such reimbursement is more than thirty (30) days past due. Upon termination of this Agreement: (l) the Alternative Court Programs staff shall automatically be discharged from employment, but shall be eligible for rehire on an at will basis by either the District Court or the County; (2) the District Court shall pay all sums due and owing the County under this Agreement; (3) the District Court shall retain all records created by the Alternative Court Programs staff; and (4), the Court shall retain all other property used by the Alternative Court Programs staff in the performance of their duties.
Termination and Winding Up. If the Company is dissolved for any reason, the Liquidator shall commence to terminate and wind up the affairs of the Company in as expeditious a manner as is reasonably practicable. The Liquidator shall have and may exercise, without further authorization or consent of any of the parties hereto or their legal representatives or successors in interest, all of the powers conferred upon the Manager under the terms of this Agreement to the extent necessary or desirable in the good faith judgment of the Liquidator to carry out the duties and functions of the Liquidator hereunder for and during such period of time, not to exceed two (2) years after the date of dissolution of the Company, as shall be reasonably required in the good faith judgment of the Liquidator to complete the termination and winding up and dissolution of the Company as provided for herein.
Termination and Winding Up. In the event that the other Partners do not elect to continue the business of the Partnership, then upon dissolution and termination of the Partnership, the following shall be accomplished:
Termination and Winding Up. In the event the Partnership is dissolved, an accounting of the Partnership's assets, liabilities and operations through the last day of the month in which the dissolution occurs shall be made by the Executive Committee and the affairs of the Partnership shall be wound up and terminated. The Executive Committee shall serve as the liquidating trustee of the Partnership. The liquidating trustee shall be responsible for winding up and terminating the affairs of the Partnership and shall determine all matters in connection therewith (including, without limitation, the arrangements to be made with creditors, the terms of the sale of any asset of the Partnership, and the amount or necessity of cash reserves to cover contingent liabilities) as it deems advisable and proper. The liquidating trustee shall thereafter liquidate the assets of the Partnership as promptly as is consistent with obtaining the fair value thereof, and the proceeds therefrom, to the extent sufficient therefor, shall be applied and distributed in the following order:
