Alternative Liquidation Procedure Sample Clauses

Alternative Liquidation Procedure. Notwithstanding the foregoing, if the Trustees shall determine that an immediate sale of part or all of the Trust assets would cause undue loss to the Holders, the Trustees, in order to avoid such loss, may, after having given notification to all the Holders, to the extent not then prohibited by the law of any jurisdiction in which the Trust is then formed or qualified and applicable in the circumstances, either defer liquidation of and withhold from distribution for a reasonable time any assets of the Trust except those necessary to satisfy the Trust's debts and obligations or distribute the Trust's assets to the Holders in liquidation.
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Alternative Liquidation Procedure. . . 9 Section 7.3
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Alternative Liquidation Procedure. 9 Section 7.3 Cash Distributions Upon Liquidation 9 Section 7.4 Treatment of Negative Book Capital Account Balance . . . . . . . . . . . . . . . . . . 9
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Alternative Liquidation Procedure. 9 Section 7.3 Cash Distributions Upon Liquidation 9 Section 7.4 Treatment of Negative Book Capital Account Balance . . . . . . . . . . . . . . . . . . 9 PROCEDURES FOR ALLOCATIONS AND DISTRIBUTIONS OF FLORIDA TAX FREE PORTFOLIO (the "Trust")
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Alternative Liquidation Procedure. 9 Section 7.3 Cash Distributions Upon Liquidation 9 Section 7.4 Treatment of Negative Book Capital Account Balance . . . . . . . . . . . . . . . . . . 9 PROCEDURES FOR ALLOCATIONS AND DISTRIBUTIONS OF NEW YORK TAX FREE PORTFOLIO (the "Trust") ---------------------------
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Alternative Liquidation Procedure. Notwithstanding Section 6.1 hereof, if the Managers determine that an immediate sale of any or all of the assets of the Fund would cause undue loss to the Members, then to avoid such loss the Manager may, after notifying all the Members and the extent not then prohibited by any applicable law, either (a) defer liquidation of, and withhold from distribution for a reasonable time, any assets of the Fund except those necessary to satisfy the debts and obligations of the Fund or (b) distribute the assets of the Fund to the Members in liquidation.
Sample 1
Alternative Liquidation Procedure. 9 Section 7.3 Cash Distributions Upon Liquidation 9 Section 7.4 Treatment of Negative Book Capital Account Balance . . . . . . . . . . 9 PROCEDURES FOR ALLOCATIONS AND DISTRIBUTIONS OF SHORT-TERM GLOBAL INCOME PORTFOLIO (the "Trust") ------------------------
Sample 1
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Alternative Liquidation Procedure. 9 Section 7.3 Cash Distributions Upon Liquidation 9 Section 7.4 Treatment of Negative Book Capital Account Balance . . . . . . . . . 9 PROCEDURES FOR ALLOCATIONS AND DISTRIBUTIONS OF ASIAN SMALL COMPANIES PORTFOLIO (the "Trust")
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Alternative Liquidation Procedure. 9 Section 7.3 Cash Distributions Upon Liquidation 9 Section 7.4
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Related to Alternative Liquidation Procedure

  • Acquisition/Liquidation Procedure The Company agrees: (i) that, prior to the consummation of any Business Combination, it will submit such transaction to the Company's stockholders for their approval ("Business Combination Vote") even if the nature of the acquisition is such as would not ordinarily require stockholder approval under applicable state law; and (ii) that, in the event that the Company does not effect a Business Combination within 18 months from the consummation of this Offering (subject to extension for an additional six-month period, as described in the Prospectus), the Company will be liquidated and will distribute to all holders of IPO Shares (defined below) an aggregate sum equal to the Company's "Liquidation Value." With respect to the Business Combination Vote, the Company shall cause all of the Initial Stockholders to vote the shares of Common Stock owned by them immediately prior to this Offering in accordance with the vote of the holders of a majority of the IPO Shares. At the time the Company seeks approval of any potential Business Combination, the Company will offer each of holders of the Company's Common Stock issued in this Offering ("IPO Shares") the right to convert their IPO Shares at a per share price equal to the amount in the Trust Fund (inclusive of any interest income therein) on the record date ("Conversion Price") for determination of stockholders entitled to vote upon the proposal to approve such Business Combination ("Record Date") divided by the total number of IPO Shares. The Company's "Liquidation Value" shall mean the Company's book value, as determined by the Company and audited by BDO. In no event, however, will the Company's Liquidation Value be less than the Trust Fund, inclusive of any net interest income thereon. If holders of less than 20% in interest of the Company's IPO Shares vote against such approval of a Business Combination, the Company may, but will not be required to, proceed with such Business Combination. If the Company elects to so proceed, it will convert shares, based upon the Conversion Price, from those holders of IPO Shares who affirmatively requested such conversion and who voted against the Business Combination. Only holders of IPO Shares shall be entitled to receive liquidating distributions and the Company shall pay no liquidating distributions with respect to any other shares of capital stock of the Company. If holders of 20% or more in interest of the IPO Shares vote against approval of any potential Business Combination, the Company will not proceed with such Business Combination and will not convert such shares.

  • Distribution of Liquidation Proceeds Subject to the terms and conditions hereof, the Administrative Agent shall distribute all Liquidation Proceeds in the order and manner set forth below:

  • Excess Liquidation Proceeds 21 FDIC..........................................................................................21 FHA...........................................................................................21

  • Application of Net Liquidation Proceeds For all purposes under this agreement, Net Liquidation Proceeds received from a Servicer shall be allocated first to accrued and unpaid interest on the related Mortgage Loan and then to the unpaid principal balance thereof.

  • Election Procedure (a) Each person who, on or prior to the Election Date, is a registered holder of Shares, other than Excluded Shares, shall be entitled to specify the number of such holder’s Shares with respect to which such holder makes a Mixed Election, a Cash Election or a Stock Election by complying with the procedures set forth in this Section 4.3.

  • Liquidation etc As long as the Class B Distribution and Service Plan is in effect, the Series shall not change the manner in which the Distribution Fee is computed (except as may be required by a change in applicable law after the date hereof) or adopt a plan of liquidation without the consent of the Distributor (or any designee or transferee of the Distributor's rights to receive payment hereunder in respect of Class B shares) except in circumstances where a surviving entity or transferee of the Series' assets adopts the Class B Distribution and Service Plan and assumes the obligations of the Series to make payments to the Distributor (or its transferee) hereunder in respect of Class B shares.

  • Orderly Liquidation A reasonable time shall be allowed for the orderly liquidation of the assets of the Company and the discharge of liabilities to creditors so as to enable the Members to minimize the losses normally attendant upon a liquidation.

  • Cash Liquidation 7 Certificate...................................................................7

  • Contribution Procedure Within fifteen (15) days after receipt by any party to this Agreement (or its representative) of notice of the commencement of any action, suit or proceeding, such party will, if a claim for contribution in respect thereof is to be made against another party (“contributing party”), notify the contributing party of the commencement thereof, but the failure to so notify the contributing party will not relieve it from any liability which it may have to any other party other than for contribution hereunder. In case any such action, suit or proceeding is brought against any party, and such party notifies a contributing party or its representative of the commencement thereof within the aforesaid 15 days, the contributing party will be entitled to participate therein with the notifying party and any other contributing party similarly notified. Any such contributing party shall not be liable to any party seeking contribution on account of any settlement of any claim, action or proceeding affected by such party seeking contribution on account of any settlement of any claim, action or proceeding affected by such party seeking contribution without the written consent of such contributing party. The contribution provisions contained in this Section 5.3.2 are intended to supersede, to the extent permitted by law, any right to contribution under the Securities Act, the Exchange Act or otherwise available. Each Underwriter’s obligations to contribute pursuant to this Section 5.3 are several and not joint.

  • Collection Procedure Escrow Agent is hereby authorized to deposit the proceeds of each wire in the Escrow Account.

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