Dissolution; Conversion Sample Clauses
The Dissolution; Conversion clause outlines the procedures and conditions under which a business entity may be dissolved or converted into a different type of entity. Typically, this clause specifies the required approvals, such as a vote by members or shareholders, and details the steps for winding up affairs or filing necessary documents with regulatory authorities. Its core function is to provide a clear legal framework for ending or transforming the entity, thereby ensuring an orderly transition and protecting the interests of stakeholders.
Dissolution; Conversion. The Partnership shall be dissolved before the date set for termination in Section 2.4 upon the happening of any of the following events:
(a) the dissolution of the Partnership under any provisions of this Agreement that specifically provide for dissolution upon the occurrence of certain events; or
(b) the entry of a decree of judicial dissolution under Section 17-802 of the Act; or
(c) an election to dissolve made by the General Partner.
Dissolution; Conversion