Plan of Dissolution. The term “Plan of Dissolution” shall be as defined in Section 3.2.
Plan of Dissolution. The plan of dissolution shall:
Plan of Dissolution. The Seller and the Seller Representative will distribute the Consideration Shares in a Liquidation Distribution in accordance with the Plan of Dissolution as soon as is reasonably practicable following the date that is 60 calendar days from the Closing Date but in no event more than 365 days following the Closing Date.
Plan of Dissolution. The Seller shall comply in all respects with ,and carry out in accordance with its terms, the Plan of Dissolution, and shall not take any action prohibited by the Plan of Dissolution or omit to take any action required to be taken by the Plan of Dissolution.
Plan of Dissolution. Adopt or effect a plan of complete or partial liquidation, dissolution, restructuring, recapitalization or other reorganization.
Plan of Dissolution. The Managing Agency will develop a dissolution plan to wind up business affairs, to be reviewed and approved by the Management Committee before it is presented to each Party’s respective governing body. The dissolution plan must provide for among other things: (1) the continued operation of the Intake Facilities while the dissolution plan is implemented; (2) an accounting of assets and liabilities; (3) provisions for the payment of debts and obligations, including assumption of future payment for ongoing debts and obligations along with appropriate indemnity provisions as the Parties mutually agree; (4) the creation of a reserve account for known, unforeseen, and contingent liabilities; (5) a plan for liquidation of the assets; and (6) a mechanism for distribution of asset proceeds and excess funds among the Parties in accordance with their ownership interest, following payment of all liabilities and obligations related to the Intake Facilities.
