Dissolution/Bankruptcy. The Plan may be terminated and liquidated within 12 months of a corporate dissolution taxed under Code §331, or with the approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A), provided that the amounts deferred under the Plan are included in the Participants’ gross incomes in the latest of:
Dissolution/Bankruptcy a) If WP shall take any steps to dissolve itself as a corporation, or if a Bankruptcy Event (as defined below) shall occur with respect to WP, the City may, at its option: (i) take an assignment of WP’s rights and obligations under the Network Agreement; or (ii) assign WP’s rights and obligations under the Network Agreement to a third party; provided that any such third party assignee shall be
Dissolution/Bankruptcy. Dissolution, termination of existence, insolvency (failure to pay its debts as they mature or the failure to maintain the fair market value of its assets in an amount greater than its liabilities on a consolidated basis for purposes herein, whichever shall first occur), a business failure, appointment of a receiver, assignment for the benefit of creditors or the commencement of any proceedings under any bankruptcy or insolvency law by or against Borrower or any guarantor or the making by either Borrower or any guarantor of any offer or settlement, exchange or composition to their respective unsecured creditors generally ;
Dissolution/Bankruptcy. The Employer may terminate the Plan within 12 months following a dissolution of a corporate Employer taxable under Code §331 or with approval of a Bankruptcy court under 11 U.S.C. §503(b)(1)(A), provided that the Deferred Compensation is paid to the Participants and is included in the Participants’ gross income in the latest calendar year: (i) in which the plan termination occurs; (ii) in which the amounts no longer are subject to a Substantial Risk of Forfeiture; or (iii) in which the payment is administratively practicable.
Dissolution/Bankruptcy. If a Member (i) is dissolved and wound up (unless the sole distributee of the Member’s Membership Interest is a Subsidiary of the Member’s Parent), or (ii) becomes a Bankrupt Member, then, in the case of each of clauses (i) and (ii), the affected Member shall notify the Company and the other Members thereof in writing. The other Members may thereafter elect to acquire their pro rata share of all of the Membership Interests owned by such affected Member on customary terms and at a price equal to the Fair Market Value of such Membership Interest by delivering written notice thereof to the affected Member no later than ninety (90) days after the date on which the affected Member delivers its notice to the Company and the other Members pursuant to the preceding sentence, in which case such affected Member shall be obligated to comply with the terms of this Section 3.6(e).
Dissolution/Bankruptcy. The Employer may terminate and liquidate the Plan within 12 months following a dissolution of a corporate Employer taxable under Code §331 or with approval of a Bankruptcy court under 11 U.S.C. §503(b)(1)(A), provided that the Deferred Compensation is paid to the Participants and is included in the Participants’ gross income in the latest of (or, if earlier, the Taxable Year in which the amount is actually or constructively received): (i) the calendar year in which the plan termination and liquidation occurs; (ii) the first calendar year in which the amounts no longer are subject to a Substantial Risk of Forfeiture; or (iii) the first calendar year in which the payment is administratively practicable.
Dissolution/Bankruptcy. 15.1. The Company shall be dissolved and its affairs wound up upon the earliest to occur of the following: (i) the termination of the legal existence of the last remaining Member of the Company or the occurrence of any other event which terminates the continued membership of the last remaining Member of the Company unless the Company is continued without dissolution in a manner permitted by this Agreement or the DLLCA; or (ii) the entry of a decree of judicial dissolution of the Company under the DLLCA; or (iii) subject Section 15.2, upon the written determination of the Members. Upon the occurrence of any event that causes the last remaining Member of the Company to cease to be a member of the Company, to the fullest extent permitted by law, the personal representative of such Member is hereby authorized to, and shall, within 90 days after the occurrence of the event that terminated the continued membership of such Member in the Company, agree in writing (A) to continue the Company and (B) to the admission of the personal representative or its nominee or designee, as the case may be, as a substitute Member of the Company, effective as of the occurrence of the event that terminated the continued membership of the last remaining Member of the Company.
Dissolution/Bankruptcy. The dissolution of the Company or the taking of any action which could result in the Bankruptcy of the Company or any Subsidiary.
Dissolution/Bankruptcy. If either Member (i) is dissolved and wound up, or (ii) becomes Bankrupt, the affected Member shall notify the other Member in writing, or if the affected Member fails to provide such notice within five Business Days, the Company shall have the right to provide such notice to the other Member (and such notice shall be deemed an Offer Notice for purposes of Section 3.7(e)(i)) and the entire Membership Interest owned by the affected Member shall be deemed to be the subject of a proposed Transfer and, therefore, a Subject ROFR Interest offered to the other Member at a price equal to the Fair Market Value of such Membership Interest, and the affected Member shall be obligated to sell its Membership Interest in accordance with Section 3.7(e) and this Section 3.7(g). In the case of the application of this Section 3.7(g) to the Rangeland Member, Section 3.7(e) shall apply to the Rangeland Member in the same manner and to the same extent such Section would otherwise apply to the Delek Member.
Dissolution/Bankruptcy. (a) Notwithstanding anything contained in this Agreement to the contrary, the Company may take the following actions only with approval of the Members and unanimous approvals of all members of the Board of Managers provided, however, that the Board of Managers may not vote on, or authorize the taking of, any of the following actions, unless there is each of an Independent Manager and an Independent Officer then serving in such capacity:
