Dissolution resolution Clause Samples
A dissolution resolution clause outlines the process and requirements for formally ending or dissolving a business entity or partnership. Typically, it specifies who has the authority to propose dissolution, the voting thresholds needed for approval, and any procedural steps such as notifying stakeholders or settling outstanding obligations. This clause ensures that the dissolution process is orderly and transparent, preventing disputes and providing a clear roadmap for winding up the entity’s affairs.
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Dissolution resolution. The dissolution of the UCITS shall be performed on a mandatory basis in the cases for which provision has been made by law. In addition, the Management Company shall be entitled to dissolve the UCITS or individual unit classes at any time. Investors, heirs or other authorised parties may not demand the splitting or the dissolution of the UCITS or of an individ- ual unit class. The resolution concerning the dissolution of the UCITS or of a unit class shall be published on the website of the Liech- tenstein Investment Fund Association LAFV (▇▇▇.▇▇▇▇.▇▇) as the organ of publication of the UCITS as well as using other media and permanent data carriers specified in the Prospectus (letter, fax, e-mail or similar). From the day of the dissolu- tion resolution onwards, no further units shall be issued, converted or redeemed. In the event of the dissolution of the UCITS, the Management Company may liquidate the assets of the UCITS without delay in the best interests of the investors. In other respects, the liquidation of the UCITS shall be performed in accord- ance with the provisions of the Liechtenstein Persons and Companies Act (Personen- und Gesellschaftsrecht - "PGR"). If the Management Company dissolves a unit class without dissolving the UCITS, then all of the units of this class shall be redeemed on the basis of their net asset value applicable at the time. This redemption shall be published by the Man- agement Company, and the redemption price shall be paid out to the former investors by the Custodian.
Dissolution resolution. In the event of the occurrence of any of the events listed in Sections 11.01(b) or (e) (if termination of the JVA is not for breach) above, prior to dissolution of the Company, any Member shall be entitled to serve a Resolution Notice on the other Members in accordance with Section 7.09 within fifteen (15) days of the occurrence of any such event as set forth herein.
Dissolution resolution. 19.1. It is expected that Partners will participate in decision-making by consensus. Partners will first meet to seek resolution, if consensus cannot be reached. If the matter cannot be resolved, the parties to the issue shall summarize the issue in writing and submit it to the MCWDB Executive Committee for mediation. All impacted MCWDB Executive Committee members must recuse themselves if they are a party to the conflict. If recusals result in lack of quorum for the MCWDB Executive Committee, the remaining members of the MCWDB Executive Committee will select a standing MCWDB member to meet quorum and fulfill the role for purposes of mediation. All decisions will be made within a period of 10 business days, and provided to the conflicted parties in writing. Where resolution cannot be reach, the MCWDB will seek technical assistance from the AZ Department of Economic Security.
Dissolution resolution. The Association may dissolve and wind-up its affairs by a special resolution, with notice and acceptance in a manner identical to the provisions of Article of these By-Laws.