Termination or Dissolution. Unless terminated as provided herein, the Trust shall continue without limitation of time. If an Early Termination Event specified in Section 9.4 occurs, the Trust shall be dissolved, and one Sponsor Interest shall be distributed to each Shareholder in exchange for each Outstanding Share.
Termination or Dissolution. The Publisher acknowledge that the ability of the Institution to participate in this Licence Agreement is subject to and contingent upon the availability of funds. In the event the Institution is unable to participate due to budgetary funding having been cut by 20% or more, participation in this Licence Agreement may terminate at the start of an anniversary calendar year (e.g. January 1) provided the Publisher receives notification in writing sixty (60) days prior to the start of the said anniversary calendar year.
Termination or Dissolution. Unless terminated as provided herein, the Trust shall continue without limitation of time. If an Early Termination Event specified in Section 9.4 occurs, the Trust shall be dissolved, and, subject to Section 3808(e) of the Delaware Statutory Trust Act, one Sponsor Interest of the corresponding class and series of Shares shall be distributed to each Shareholder in exchange for each Corresponding Share then outstanding.
Termination or Dissolution. 29 Section 10.02 Circumstances Under Which Shares Will Be Exchanged for Sponsor Shares.....
Termination or Dissolution. 13.1 The Institution may terminate the Agreement if sufficient funds are not provided or allotted in future government-approved budgets of the Institution (or reasonably available or expected to become available from to permit the Institution, in the exercise of its reasonable administrative discretion, to continue the Licence Agreement.
13.2 Premature termination of the Licence Agreement by either Party shall be possible with immediate effect, without judicial intervention, and without any obligation to pay damages in the following circumstances: the other Party acts contrary to an obligation set forth in the Licence Agreement under the condition that a notification in writing of the breach has been arranged for, setting a reasonable term for compliance with the relevant obligation; submission of an application for a suspension of payments by either Party; insolvency of either Party.
13.3 Obligations which by their nature are intended to continue after the termination or dissolution of the Licence Agreement will continue after such dissolution.
Termination or Dissolution. The Institution may terminate the Agreement if sufficient funds are not provided or allotted in future government-approved budgets of the Institution (or reasonably available or expected to become available from other sources at the time the Institution’s payment obligation attaches) to permit the Institution, in the exercise of its reasonable administrative discretion, to continue the Agreement.
Termination or Dissolution. In the event that the organization is terminated or dissolved, all funds shall be transferred to the respective school's general student body funds. The organization maintains responsibility for filing all final tax returns and appropriate documentation with the State and Federal authorities to officially close the organization and cease all operations.
Termination or Dissolution. 13.1 The Institution may terminate the Agreement if sufficient funds are not provided or allotted in future government-approved budgets of the Institution (or reasonably available or expected to become available from other sources at the time the Institution’s payment obligation attaches) to permit the Institution, in the exercise of its reasonable administrative discretion, to continue the Licence Agreement.
13.2 Premature termination of the Licence Agreement by either Party shall be possible – with immediate effect, without judicial intervention, and without any obligation to pay damages – in the following circumstances: • the other Party acts contrary to an obligation set forth in the Licence Agreement under the condition that a notification in writing of the breach has been arranged for, setting a reasonable term for compliance with the relevant obligation; • submission of an application for a suspension of payments by either Party; • insolvency of either Party.
13.3 Obligations which by their nature are intended to continue after the termination or dissolution of the Licence Agreement will continue after such dissolution.
Termination or Dissolution. 15.01 Termination Upon Withdrawal, Bankruptcy, Death, or Incapacity of General Partners. The General Partner, upon at least six (6) months prior written notice, effective as of the last day of any fiscal year of the Partnership, may voluntarily withdraw from the Partnership as General Partner and such withdrawal shall have the effect of terminating the Partnership as of the close of business on such last day. (Provided, however, that upon voluntary withdrawal of such General Partner, and prior to such termination, the Limited Partners may designate a new general partner, subject to such new general partner meeting all citizenship and other criteria, as may be required, of the U.S. Maritime Administration and other applicable governmental agencies, including that criteria dealing with de facto control. If such new general partner is so appointed, subject to the requirements set forth above: (a) the Partnership shall continue; (b) the new general partner shall expressly assume all rights, liabilities and responsibilities of the prior General Partner in the Partnership, shall release the General Partner from any such liabilities and responsibilities, and shall execute any documents necessary to effect such assumption and release; and (c) the prior General Partner shall be immediately paid for its interest in the Partnership assets, which payment shall be the fair market value of the prior General Partner's interest in the Partnership as determined by a competent appraisal.) The bankruptcy, death, incapacity, or resignation of one General Partner (if there shall at the time of such event then be more than one General Partner) shall not have the effect of terminating the Partnership and the other General Partner shall continue to serve as the General Partner. Upon the bankruptcy, death, incapacity, or resignation of the General Partner, the Partnership shall terminate as of the close of business on the last day of the fiscal year in which such event occurs.
Termination or Dissolution
