Liquidation Proceedings definition
Liquidation Proceedings means the proceedings aimed to provide satisfaction, as laid down in this Act, to the creditors of an insolvent debtor upon its winding-up without succession.
Liquidation Proceedings has the meaning set forth in the Recitals to this Agreement.
Liquidation Proceedings has the meaning ascribed to such term in the RSA. “Losses” (collectively) or “Loss” (individually) means any loss, Liability, demand, claim, action, cause of action, cost, damage, deficiency, Tax, penalty, fine or expense, whether or not arising out of third party claims (including interest, penalties, attorneys’, accountants’ and other professionals’ fees and expenses, court costs and all amounts paid in investigation, defense or settlement of any of the foregoing).
Examples of Liquidation Proceedings in a sentence
Upon Closing, and subject to the terms and conditions set forth herein, Buyer grants to Company a limited, non-exclusive, royalty-free, non-transferable, non-assignable, non-sublicensable license (the “License”) to use the specific Intellectual Property listed hereto on Schedule 6.8 (the “Licensed IP”) solely for the limited purpose of conducting activities necessary to wind-down the business of the Company in connection with the Liquidation Proceedings.
The License shall terminate automatically without prior notice or legal action upon the earlier of (i) the completion of the Liquidation Proceedings, or (ii) one year following the Closing Date.
More Definitions of Liquidation Proceedings
Liquidation Proceedings refers to the TOEMT 1 liquidation Proceeding and the TOEMT 2 liquidation Proceeding;