WITHDRAWAL OF MEMBER TOWNS Sample Clauses

WITHDRAWAL OF MEMBER TOWNS. In the event that a member town decides to seek to withdraw from the District, the following procedures and requirements will apply:
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WITHDRAWAL OF MEMBER TOWNS. A. The withdrawal of a Member Town from the District may be effected by an amendment to this Agreement in the manner hereinafter provided by this section. A Member Town seeking to withdraw shall, by vote at an Annual or Special Town Meeting, request the Committee to draw up an amendment to this Agreement setting forth the terms by which such Member Town may withdraw from the District. B. Obligations of Member Towns 1. If a Member Town votes to withdraw from the District, that Member Town shall remain: (a) liable for any unpaid operating costs that have been certified by the District Treasurer to the Treasurer of that Member Town including the full amount so certified for the year in which such withdrawal takes effect; (b) liable for its share of the indebtedness, other than temporary debt in anticipation of revenue, of the District outstanding at the time of such withdrawal, and for interest thereon, to the same extent and in the same manner as though the Member Town had not withdrawn from the District, except that such liability shall be reduced by any amount which that Member Town has paid over at the time of withdrawal and that has been applied to the payment of such indebtedness; and (c) liable for other liabilities incurred during all times in which that Member Town was a member of the District (e.g., OPEB for professional and non-professional staff and any local pension obligations). All expenses related to a withdrawal from the District will be borne by the Member Town(s) that initiate(s) a withdrawal from the District. A Member Town that chooses to withdraw from the District shall not be entitled to any pro rata share of any of the assets of the District. 2. Upon a Member Town’s withdrawal from the District, monies from that withdrawing Member Town for future payments of funded indebtedness, interest thereon, and/or any other liabilities (e.g., OPEB), shall be used only for such purpose and until so used shall be deposited in a trust specifically named for such purpose. C. The Clerk of the Member Town seeking to withdraw shall notify the Committee in writing that such Town has voted to request the Committee to draw up an amendment to the Agreement (enclosing a certified copy of such vote). Thereupon, the Committee shall draw up an amendment to the Agreement setting forth such terms of withdrawal as it deems advisable. The Secretary of the Committee shall deliver a notice in writing to the Select Board of all Member Towns that the Committee has draw...
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WITHDRAWAL OF MEMBER TOWNS. (A) Any member town may petition to withdraw from the regional school district under terms stipulated in a proposed amendment to the agreement provided (1) that the town seeking to withdraw has paid over to the regional school district any operating costs for which it became liable as a member of the district, and (2) that said town shall remain liable to the district for its share of the indebtedness other than temporary indebtedness incurred in anticipation of revenue, of the district outstanding at the time of such withdrawal,, and for the interest thereon, to the same extent and in the same many as though the town had not withdrawn from the district, except such liability shall be reduced by any amount which such town had paid over at the time of withdrawal and which has been applied to the payment of such indebtedness and interest. (B) Said petitioning town shall cease to be a member town I the proposed amendment is approved by the regional district school committee and accepted by the petitioning town and each of the other member towns, acceptance by the petitioning town and by the other member towns to be by majority vote at an annual or special town meeting. (C) Money received by the district from the withdrawing town for payment of funded indebtedness and interest thereon shall be used for this purpose only.
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Related to WITHDRAWAL OF MEMBER TOWNS

  • Withdrawal of Members A member may withdraw from this LLC by giving written notice to all other members at least days before the date the withdrawal is to be effective.

  • Withdrawal by a Member A Member has no power to withdraw from the Company, except as otherwise provided in Section 8.

  • Withdrawal of Bid Any bidder who makes a bid but withdraws the same before the fall of the hammer, shall have his/her deposit equal to 10% of reserve price forfeited as agreed liquidated damages for payment to the Assignee/Bank. The Auctioneer reserves the right to put the property again for sale at the last undisputed bid, or otherwise to adjourn the auction to another date.

  • Withdrawal of Bids Bids may be withdrawn by bidders prior to the time set for official opening. After time has been called, no bid may be withdrawn for a period of thirty-five days after the time and date of opening except as provided in O.C.G.A Section 13-10-22 (appreciable error in calculation of bid). Negligence or error on the part of any bidder in preparing his bid confers no right of withdrawal or modification of his bid after time has been called except as provided by Georgia law.

  • Withdrawal of Grievance A grievance may be withdrawn at any level without establishing a precedent.

  • Withdrawal of Services 50.1 Notwithstanding anything contained in this Agreement, except as otherwise required by Applicable Law, Verizon may terminate its offering and/or provision of any Service under this Agreement upon thirty (30) days prior written notice to CBB. 50.2 Notwithstanding anything contained in this Agreement, except as otherwise required by Applicable Law, Verizon may with thirty (30) days prior written notice to CBB terminate any provision of this Agreement that provides for the payment by Verizon to CBB of compensation related to traffic, including, but not limited to, Reciprocal Compensation and other types of compensation for termination of traffic delivered by Verizon to CBB. Following such termination, except as otherwise agreed in writing by the Parties, Verizon shall be obligated to provide compensation to CBB related to traffic only to the extent required by Applicable Law. If Verizon exercises its right of termination under this Section, the Parties shall negotiate in good faith appropriate substitute provisions for compensation related to traffic; provided, however, that except as otherwise voluntarily agreed by Verizon in writing in its sole discretion, Verizon shall be obligated to provide compensation to CBB related to traffic only to the extent required by Applicable Law. If within thirty (30) days after Verizon’s notice of termination the Parties are unable to agree in writing upon mutually acceptable substitute provisions for compensation related to traffic, either Party may submit their disagreement to dispute resolution in accordance with Section 14 of this Agreement.

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