Examples of Event of Dissolution in a sentence
In the event that an Event of Dissolution shall occur, then the Company shall be liquidated and its affairs shall be wound up.
Upon the happening of an Event of Dissolution, the Company shall not conduct business or engage in any activity not necessary or appropriate to winding-up its business and liquidating, and shall proceed promptly to wind up its affairs in an orderly manner, to liquidate its assets, to satisfy the claims of its creditors, and to distribute its remaining assets to the Sole Member.
Within thirty (30) days of the happening of an Event of Dissolution, the Company shall give written notice thereof to the Sole Member, to all creditors of the Company, to the banks and other financial institutions with which the Company does business, and to all other parties with whom the Company conducts business, and shall publish notice of dissolution in accordance with the provisions of the Act.
However, Section 12.05 of the Crescent/301 Agreement provides that if any Event of Dissolution occurs with respect to CREE, Ltd., the business of Crescent/301 will be continued if, within ninety days, the remaining members unanimously decide to continue the business and to approve the admission of a new member, effective immediately before the dissolution event.
Upon the occurrence of an Event of Dissolution, the Partnership shall continue solely for the purposes of winding up its affairs in an orderly manner, liquidating its assets, and satisfying the claims of its creditors and Partners.