Disposition Plan Clause Samples

A Disposition Plan clause outlines the procedures and requirements for handling, transferring, or disposing of assets, property, or materials at the conclusion of an agreement or project. Typically, it specifies the steps parties must follow to return, sell, destroy, or otherwise manage items that were used or created during the contractual relationship. This clause ensures that all parties have a clear understanding of their responsibilities regarding leftover assets, thereby preventing disputes and facilitating an orderly wrap-up of obligations.
Disposition Plan. Within two (2) business days following Customer’s receipt of the Aging Report, Customer will provide to Arrow a proposed disposition plan for the undisputed Aged Goods identified in the Aging Report (“Disposition Plan”). Arrow will propose any adjustment to the Disposition Plan and the parties will agree to a revised Disposition Plan no later than three (3) business days following the end of the relevant month.
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Disposition Plan. (1) The Board shall, within five (5) business days following notice from the OCC, prepare and submit to the OCC a Disposition Plan acceptable to the OCC, if the OCC determines in writing, in its sole discretion, that: (a) there is a material existing or imminent breach or violation of Articles II or III of this Agreement and such breach or violation is deemed to be significant; — 8 — (b) there is a material existing or imminent breach or violation of Article IV of this Agreement, which has not been cured within thirty (30) days of receiving written notice of such material breach or violation from the OCC; (c) there is a material existing or imminent breach of the CALMA by the Bank or the Holding Company or the Immediate Parent Company and such breach or violation is deemed to be significant; or (d) there has been a material adverse change in the financial condition of the Holding Company or the Immediate Parent Company and the Holding Company and the Immediate Parent Company are deemed likely to be unable to fulfill their obligations under the CALMA. For purposes of this paragraph, “material” shall have the same meaning accorded to that term in Securities and Exchange Commission Staff Accounting Bulletin No. 99 on Materiality. (2) Upon obtaining a written non-objection to the Disposition Plan from the OCC and receiving a written direction from the OCC to begin implementing such Disposition Plan, the Board shall promptly implement and thereafter adhere to the Disposition Plan, provided that such implementation is not required if the breach, violation or change arising under subsection (1)(a)-(d) that is the basis for such direction has been cured within fifteen (15) days of issuance of such direction. (3) The Disposition Plan shall detail in writing the Board’s proposal to: (i) sell, (ii) merge, or (iii) dissolve the Bank, without loss or cost to the OCC or the Federal Deposit Insurance Corporation. In the event that the Disposition Plan submitted by the Board outlines a sale or merger of the Bank, the Disposition Plan, at a minimum, shall address the steps that will be taken to ensure that the sale or merger occurs not later than thirty (30) calendar days after the Board’s receipt of the OCC’s direction to begin implementing the Disposition Plan and the receipt of all necessary regulatory approvals. If the Disposition Plan outlines a dissolution of the Bank, the Disposition Plan shall detail the actions and steps necessary to accomplish the dissolution in ...
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Disposition Plan. During the last year of the contract term at least 90 days before the completion date of the contract, the Contractor will provide to USAID in writing a proposed plan for disposition of the physical assets remaining at the termination of the contract. The CO will approve or disapprove the proposed disposition plan in writing, at least 45 days prior to the completion of the contract. However, regardless of any prior approval of all or portions of the proposed disposition plan, USAID reserves the general right to direct or redirect such disposition plan.
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Disposition Plan. (1) The Board shall, within five (5) business days following notice from the OCC, prepare and submit to the OCC a Disposition Plan acceptable to the OCC, if the OCC determines in writing, in its sole discretion, that: (a) there is a material existing or imminent breach or violation of Articles II or III of this Agreement and such breach or violation is deemed to be significant; (b) there is a material existing or imminent breach or violation of Article IV of this Agreement, which has not been cured within thirty (30) days of receiving written notice of such material breach or violation from the OCC; (c) there is a material existing or imminent breach of the CALMA by the Bank or the Holding Company or the Immediate Parent Company and such breach or violation is deemed to be significant; or (d) there has been a material adverse change in the financial condition of the Holding Company or the Immediate Parent Company and the Holding Company and the Immediate Parent Company are deemed likely to be unable to fulfill their obligations under the CALMA. For purposes of this paragraph, “material” shall have the same meaning accorded to that term in Securities and Exchange Commission Staff Accounting Bulletin No. 99 on Materiality. (2) Upon obtaining a written non-objection to the Disposition Plan from the OCC and receiving a written direction from the OCC to begin implementing such Disposition Plan, the Board shall promptly implement and thereafter adhere to the Disposition Plan, provided that such implementation is not required if the breach, violation or change arising under subsection (1)(a)-(d) that is the basis for such direction has been cured within fifteen (15) days of issuance of such direction. (3) The Disposition Plan shall detail in writing the Board’s proposal to: (i) sell, (ii) merge, or (iii) dissolve the Bank, without loss or cost to the OCC or the Federal Deposit Insurance Corporation. In the event that the Disposition Plan submitted by the Board outlines a sale or merger of the Bank, the Disposition Plan, at a minimum, shall address the steps that will be taken to ensure that the sale or merger occurs not later than thirty (30) calendar days after the Board’s receipt of the OCC’s direction to begin implementing the Disposition Plan and the receipt of all necessary regulatory approvals. If the Disposition Plan outlines a dissolution of the Bank, the Disposition Plan shall detail the actions and steps necessary to accomplish the dissolution in confor...
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Disposition Plan 
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Related to Disposition Plan

  • Disposition The HSP will not, without the Funder’s prior written consent, sell, lease or otherwise dispose of any assets purchased with Funding, the cost of which exceeded $25,000 at the time of purchase.

  • Data Disposition When the contracted work has been completed or when the Data is no longer needed, except as noted above in Section 5.b, Data shall be returned to DSHS or destroyed. Media on which Data may be stored and associated acceptable methods of destruction are as follows: Data stored on: Will be destroyed by:

  • Disposition Services The Manager shall: (i) evaluate and approve potential asset dispositions, sales, or liquidity transactions; and (ii) structure and negotiate the terms and conditions of transactions pursuant to which the assets of the Company may be sold.

  • Dispositions Convey, sell, lease, transfer or otherwise dispose of (collectively "Transfer"), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, other than Transfers (i) of Inventory in the ordinary course of business; (ii) of non-exclusive licenses and similar arrangements for the use of the property of Borrower or its Subsidiaries in the ordinary course of business; or (iii) of worn-out or obsolete Equipment.

  • DISPOSITION OF EQUIPMENT The Grantee shall provide to the State, not less than 30 calendar days prior to submission of the final invoice, an itemized inventory of equipment purchased with funds provided by the State. The inventory shall include all items with a current estimated fair market value of more than $5,000.00 per item. Within 60 calendar days of receipt of such inventory the State shall provide the Grantee with a list of the items on the inventory that the State will take title to. All other items shall become the property of the Grantee. The State shall arrange for delivery from the Grantee of items that it takes title to. Cost of transportation, if any, shall be borne by the State.