Corporate Dissolution. In the event of the dissolution or liquidation of the Corporation, and after payment of its just debts and liabilities, all remaining assets shall be distributed to such organization or organizations that are organized and operated exclusively for charitable, educational or scientific purposes and that shall at the time qualify as an exempt organization or organizations under Sec.501(c)(3) of the Code as the Board of Trustees may determine.
Appears in 2 contracts
Sources: Affiliation Agreement, Affiliation Agreement