Termination; winding up Sample Clauses

Termination; winding up. (a) (Realisation of Assets) Subject to this clause 3 and to the Transaction Documents, immediately following the Termination Date of a Trust the Trustee in consultation with the Manager or the Beneficiary, to the extent either has title to the Assets of the relevant Trust following that Termination Date, must: (i) sell and realise the Assets of that Trust (having obtained appropriate expert advice prior to the sale of any Receivable or Receivable Security); and (ii) so far as reasonably practicable and reasonably commercially viable, and subject to this clause, complete the sale within 180 days after the Termination Date for that Trust. (b) (First right of refusal) Where an Approved Seller has a first right of refusal in relation to those Receivables or Receivable Securities under clause 12.9(c), the Trustee or the Beneficiary (as the case may be) must comply with that clause 12.9(c). Page (21) Master Trust ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ & ▇▇▇▇▇▇▇ -------------------------------------------------------------------------------- (c) (Sale within 180 days) During the 180 day period after the Termination Date of a Trust, the Trustee or the Beneficiary (as the case may be) must not (subject to paragraph (d)) and the Manager must not direct it to, sell any Receivables and the related Receivable Rights for an amount less than: (i) in the case of performing Receivables, their Unpaid Balance; or (ii) in the case of non-performing Receivables, their Fair Market Value. (d) (Performing Receivables) Notwithstanding paragraph (c)(i), the Trustee or the Beneficiary (as the case may be) may not, and the Manager must not direct it to, at any time sell any performing Receivable for less than its Fair Market Value without the consent of an Extraordinary Resolution of the relevant Noteholders. Any purported sale without that approval will be ineffective. (e) (Sale at less than Unpaid Balance) The Trustee or the Beneficiary (as the case may be) must not, and the Manager must not direct it to, sell any performing Receivable and the related Receivable Rights for less than the Unpaid Balance of the performing Receivable unless: (i) if the Invested Amount of each Note is greater than zero, the Noteholders have consented to such sale by Extraordinary Resolution; or (ii) if the Invested Amount of each Note is zero, the relevant Beneficiary consents. (f) (Procedures before winding up) The provisions of this Deed will continue to apply to a Trust for the period between the Termination Date of that ...
View SourceView Similar (9)
Termination; winding up. This Agreement shall terminate:
View Source
Termination; winding up. After the Closing, the CVIT Fund shall not conduct any business except in connection with the winding up of its affairs and shall file, or make provision for filing of, all reports it is required by law to file. After the Closing, the CVIT Fund shall be liquidated and shall cease to be a designated series of CVIT under Massachusetts law.
View Source
Termination; winding up. After the Closing, the Select Value Portfolio shall not conduct any business except in connection with the winding up of its affairs and shall file, or make provision for filing of, all reports it is required by law to file. After the Closing, the Select Value Portfolio shall cease to be a designated series of Principal Preservation under Maryland law and its shares shall be deregistered under the Securities Act and applicable state securities laws.
View Source

Related to Termination; winding up

  • Dissolution Winding Up Termination 27 8.1 Dissolution.......................................................................27 8.2

  • Dissolution Winding Up and Termination Upon the occurrence of a Liquidating Event, the General Partner shall have the full power and authority to proceed with the liquidation of the Partnership and to take all steps which it may deem necessary or desirable to wind up the Partnership’s affairs, having for such purpose all the powers referred to and provided for in Article 7 appropriate to accomplish the same and allowing for a reasonable time in order to minimize losses attendant to the liquidation, so that the Partnership may be terminated in accordance with the Act. In the event that there is no General Partner, the Limited Partners shall, by Majority Approval, designate one or more Partners or a non-Partner or both to proceed with the liquidation of the Partnership’s assets and the termination of the Partnership. In the event that a liquidator is designated pursuant to the preceding sentence, hereinafter in this Article all references to the General Partner shall be deemed to refer to such liquidator.

  • Dissolution Winding Up (a) The Partnership shall be dissolved upon (i) the adoption of a plan of dissolution by the General Partner(s) or (ii) the occurrence of any event required to cause the dissolution of the Partnership under the Act. (b) Any dissolution of the Partnership shall be effective as of the date on which the event occurs giving rise to such dissolution, but the Partnership shall not terminate unless and until all its affairs have been wound up and its assets distributed in accordance with the provisions of the Act. (c) Upon dissolution of the Partnership, the Partnership shall continue solely for the purposes of winding up its business and affairs as soon as reasonably practicable. Promptly after the dissolution of the Partnership, the General Partner(s) shall immediately commence to wind up the affairs of the Partnership in accordance with the provisions of this Agreement and the Act. In winding up the business and affairs of the Partnership, the General Partner(s) may take any and all actions that it determines in its sole discretion to be in the best interests of the Partners, including, but not limited to, any actions relating to (i) causing written notice by registered or certified mail of the Partnership’s intention to dissolve to be mailed to each known creditor of and claimant against the Partnership, (ii) the payment, settlement or compromise of existing claims against the Partnership, (iii) the making of reasonable provisions for payment of contingent claims against the Partnership and (iv) the sale or disposition of the properties and assets of the Partnership. It is expressly understood and agreed that a reasonable time shall be allowed for the orderly liquidation of the assets of the Partnership and the satisfaction of claims against the Partnership so as to enable the General Partner(s) to minimize the losses that may result from a liquidation.

  • Termination Without Cause The Company may terminate Executive’s employment without Cause.

  • Termination With Cause The Master Servicer may, at its sole option, terminate any rights the Primary Servicer may have hereunder with respect to any or all of the Mortgage Loans, as provided in Section 4.01 of this Agreement upon the occurrence of a Primary Servicer Termination Event. Any notice of termination shall be in writing and delivered to the Primary Servicer as provided in Section 6.05 of this Agreement.