Common use of Withdrawal and Dissolution Clause in Contracts

Withdrawal and Dissolution. 1. At any time after the expiration of three years from the date when it became a party to this Agreement, any Member may give notice of its withdrawal from the Organisation to the Depositary. Such withdrawal shall take effect twelve months after the notice thereof was received by the Depositary or at any later date specified in the notice, provided, however, that any obligation incurred by the Member vis-à-vis the Organisation shall remain valid and enforceable. 2. The Organisation shall cease to exist at any time decided by the Governing Council by a three-quarters majority of the Members. The disposal of any real property belonging to the Organisation shall be subject to the prior approval of the Governing Council. Any assets remaining after the land, buildings and fixtures have been disposed of, after the balance of any donated funds that have not been used has been returned to the respective donors, and after all obligations have been met, shall be distributed among the Governments, which were Members of the Organisation at the time of the dissolution, in proportion to the contributions that they made, in accordance with Article 13, paragraph 2, for the year preceding the year of the dissolution. 3. Subject to the provisions of paragraph 2, the Organisation shall also cease to exist if the number of Members falls to three, unless the remaining Members unanimously decide to continue its existence.

Withdrawal and Dissolution. 1. At any time after the expiration of three years from the date when it became a party to this Agreement, any Member may give notice of its withdrawal from the Organisation Organization to the Depositary. Such withdrawal shall take effect twelve months after the notice thereof was received by the Depositary or at any later date specified in the notice, provided, however, that any obligation incurred by the Member vis-à-a- vis the Organisation organization shall remain valid and enforceable. 2. The Organisation Organization shall cease to exist at any time decided by the Governing Council by a three-quarters majority of the Members. The disposal of any real property belonging to the Organisation Organization shall be subject to the prior approval of the Governing Council. Any assets remaining after the land, buildings and fixtures have been disposed of, after the balance of any donated funds that have not been used has been returned to the respective donors, and after all obligations have been met, shall be distributed among the Governments, Governments which were Members of the Organisation Organization at the time of the dissolution, in proportion to the contributions that they made, made in accordance with Article 13, paragraph 2, for the year preceding the year of the dissolution. 3. Subject to the provisions of paragraph 2, the Organisation shall also cease to exist if the number of Members falls to three, unless the remaining Members unanimously decide to continue its existence.

Withdrawal and Dissolution. 1. At any time after the expiration of three years from the date when it became a party to this Agreement, any Member may give notice of its withdrawal from the Organisation Organization to the Depositary. Such withdrawal shall take effect twelve months after the notice thereof was received by the Depositary or at any later date specified in the notice, provided, however, that any obligation incurred by the Member vis-àa-vis the Organisation Organization shall remain valid and enforceable. 2. The Organisation Organization shall cease to exist at any time decided by the Governing Council by a three-three- quarters majority of the Members. The disposal of any real property belonging to the Organisation Organization shall be subject to the prior approval of the Governing Council. Any assets remaining after the land, buildings and fixtures have been disposed of, after the balance of any donated funds that have not been used has been returned to the respective donors, and after all obligations have been met, shall be distributed among the Governments, Governments which were Members of the Organisation Organization at the time of the dissolution, in proportion to the contributions that they made, made in accordance with Article 13, paragraph 2, for the year preceding the year of the dissolution. 3. Subject to the provisions of paragraph 2, the Organisation shall also cease to exist if the number of Members falls to three, unless the remaining Members unanimously decide to continue its existence.

Withdrawal and Dissolution. 1. At any time after the expiration of three years from the date when it became a party to this Agreement, any Member may give notice of its withdrawal from the Organisation Organization to the Depositary. Such withdrawal shall take effect twelve months after the notice thereof was received by the Depositary or at any later date specified in the notice, provided, however, that any obligation incurred by the Member vis-àa-vis the Organisation Organization shall remain valid and enforceable. 2. The Organisation Organization shall cease to exist at any time decided by the Governing Council by a three-quarters majority of the Members. The disposal of any real property belonging to the Organisation Organization shall be subject to the prior approval of the Governing Council. Any assets remaining after the land, buildings and fixtures have been disposed of, after the balance of any donated funds that have not been used has been returned to the respective donors, and after all obligations have been met, shall be distributed among the Governments, Governments which were Members of the Organisation Organization at the time of the dissolution, in proportion to the contributions that they made, made in accordance with Article 13[14], paragraph 2, for the year preceding the year of the dissolution. 3. Subject to the provisions of paragraph 2, the Organisation shall also cease to exist if the number of Members falls to three, unless the remaining Members unanimously decide to continue its existence.