Liquidation Member definition
Examples of Liquidation Member in a sentence
Santander and the Liquidation Member incorporated the LLP on 8 April 2005.
Each Member (other than the Liquidation Member) hereby agrees that it shall not be required to execute any Deed of Admission, which may be signed on its behalf by the Liquidation Member.
As at the date hereof, Santander and the Liquidation Member are the Designated Members.
The liquidator shall oversee the winding up and liquidation of the Company, take full account of the liabilities of the Company and assets, either cause the Company's assets to be sold as promptly as is consistent with obtaining fair market value therefor (or, with the consent of the Members, distributed to the Liquidation Member) and, if sold, shall cause the proceeds therefrom, to the extent sufficient therefor, to be applied and distributed as provided in paragraph (c) below.
However, no amendment or modification which has an adverse affect upon the Liquidation Member may be adopted without the written consent of the Liquidation Member.
The LLP was incorporated on 8 April 2005 by Santander and the Liquidation Member (the "Members").
The liquidator shall oversee the winding up and liquidation of the Company, take full account of the liabilities of the Company and assets, either cause the Company's assets to be sold as promptly as is consistent with obtaining fair market value therefor (or, with the consent of the Voting Members, distributed to the Liquidation Member) and, if sold, shall cause the proceeds therefrom, to the extent sufficient therefor, to be applied and distributed as provided in paragraphs (c) and (d) below.
Notwithstanding any other provision of this ------------------------ Agreement, with effect on and from the commencement of the dissolution of the Company, Voting Members will not have any right to participate in a distribution of the property of the Company; that right will be possessed only the Liquidation Member.
Trust as the sole "Liquidation Member." After the date hereof, no Person may be admitted as an additional Member except with the approval of the Voting Members.