Dissolution of Series or Company Sample Clauses

Dissolution of Series or Company. Any Series or Class shall be dissolved (a) by the affirmative vote of the Shareholders holding not less than two-thirds of the total Outstanding Shares of the Series or Class, at any meeting of the Shareholders or by an instrument in writing, without a meeting, signed by a majority of the Directors and consented to by the Shareholders of not less than two-thirds of such Shares, or (b) by the Directors by written notice of dissolution to the Shareholders holding the Series or Class. The Company shall be dissolved upon the earlier of (i) the dissolution of the last remaining Series, (ii) at any time there are no Shareholders of any Series unless a Shareholder is admitted effective as of the occurrence of the event that terminated the continued membership of the last remaining Shareholder and the Company is continued in accordance with Section 18-801(a)(4) of the Delaware Act, or (iii) upon the entry of a decree of judicial dissolution of the Company under Section 18-802 of the Delaware Act.
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Dissolution of Series or Company. Any Series shall be dissolved by a resolution adopted by a majority of the Directors followed by notice of the dissolution to the Holders of the Interests of the affected Series without any vote or other action on the part of the Holders of the Interests of the affected Series. The Company shall be dissolved upon (i) the dissolution of the last remaining Series, (ii) a resolution adopted by a majority of the Directors followed by notice of dissolution to the Holders of the Interests in the Company, (iii) 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 in the Company unless the Company is continued without dissolution in a manner permitted by the Act, or (iv) a decree of judicial dissolution under Section 18-802 of the Act.
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Dissolution of Series or Company. Any Series shall be dissolved by unanimous consent of the Directors by written notice of dissolution to the Holders of the Interests of the Series. The Company shall be dissolved upon the dissolution of the last remaining Series.
Sample 1

Related to Dissolution of Series or Company

  • Combination of Series or Classes (i) The Board of Trustees shall have the authority, without the approval, vote or consent of the Shareholders of any Series, unless otherwise required by applicable law, to combine the assets and liabilities held with respect to any two or more Series into assets and liabilities held with respect to a single Series; provided that upon completion of such combination of Series, the interest of each Shareholder, in the combined assets and liabilities held with respect to the combined Series shall equal the interest of each such Shareholder in the aggregate of the assets and liabilities held with respect to the Series that were combined.

  • Elimination of Series or Classes At any time that there are no Shares outstanding of any particular Series or Class previously established, the Trustees may abolish that Series or Class and rescind the establishment thereof.

  • Termination of the Trust or Any Series or Class (a) Unless terminated as provided herein, the Trust shall continue without limitation of time. The Trust may be dissolved at any time by the Trustees (without Shareholder approval). Any Series of Shares may be dissolved at any time by the Trustees (without Shareholder approval). Any Class may be terminated at any time by the Trustees (without Shareholder approval). Any action to dissolve the Trust shall be deemed to also be an action to dissolve each Series, and to terminate each Class.

  • Combination of Series The Trustees shall have the authority, without the approval of the Shareholders of any Series unless otherwise required by applicable law, to combine the assets and liabilities held with respect to any two or more Series into assets and liabilities held with respect to a single Series.

  • Division of Series or Classes The Trustees shall have the authority, without the approval of the Shareholders of any Series or Class unless otherwise required by applicable federal law, to divide the assets and liabilities held with respect to any Series or Class into assets and liabilities held with respect to an additional one or more Series or Classes and in connection therewith to cause some or all of the Shareholders of such Series or Class to be admitted as Shareholders of such additional one or more Series or Classes.

  • Elimination of Series At any time that there are no Shares outstanding of a Series (or class), the Trustees may abolish such Series (or class).

  • Designation of Series Pursuant to the terms hereof and Sections 201 and 301 of the Base Indenture, the Company hereby creates two series of Securities designated the “2.521% Guaranteed Notes due 2020” and the “3.535% Guaranteed Notes due 2024”, which Notes shall be deemed “Securities” for all purposes under the Base Indenture.

  • Dissolution of Company (a) The Company shall be dissolved, wound up and terminated as provided herein upon the first to occur of the following:

  • Liquidation of Company The Company shall give the Escrow Agent written notification of the liquidation and dissolution of the Company in the event that the Company fails to consummate a Business Combination within the time period(s) specified in the Prospectus.

  • Termination of the Trust or Any Series Unless terminated as provided herein, the Trust shall continue without limitation of time. The Trust may be dissolved at any time by the Trustees upon 60 days prior written notice to the Shareholders. Any Series of Shares may be dissolved at any time by the Trustees upon 60 days prior written notice to the Shareholders of such Series. Any action to dissolve the Trust shall be deemed to also be an action to dissolve each Series and each class thereof. In accordance with Section 3808 of the Delaware Act, upon dissolution of the Trust or any Series, as the case may be, after paying or otherwise providing for all charges, taxes, expenses and liabilities held, severally, with respect to each Series or the applicable Series, as the case may be, whether due or accrued or anticipated as may be determined by the Trustees, the Trust shall, in accordance with such procedures as the Trustees consider appropriate, reduce the remaining assets held, severally, with respect to each Series or the applicable Series, as the case may be, to distributable form in cash or shares or other securities, and any combination thereof, and distribute the proceeds held with respect to each Series or the applicable Series, as the case may be, to the Shareholders of that Series, as a Series, ratably according to the number of Shares of that Series held by the several Shareholders on the date of termination.

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