Divorce or Dissolution Sample Clauses

Divorce or Dissolution. During the pendency of divorce or entity dissolution affecting any Member, the parties thereto must adopt one of the following methods of operation: • One of the parties may, with written consent of the other(s), operate the Velovita business whereby the relinquishing spouse, shareholders, members, partners or trustee authorize Velovita to deal directly and solely with the other spouse or non-relinquishing shareholder, partner, or trustee. • The parties may continue to operate the Velovita business jointly on a business- as-usual basis, whereby all compensation paid by Xxxxxxxx will be paid in the joint names of the Member or on the names of the entity to be divided as the parties may independently agree between themselves. • Under no circumstance will Velovita split commissions and bonus checks be- tween divorcing spouses or members of dissolving entities. Velovita will recog- nize only one (1) individual or organization and will issue only one (1) commis- sion check per Velovita business per commission cycle. Commission checks shall always be issued to the same individual or entity. In the event that parties of a divorce or dissolution proceedings are unable to resolve a dispute over the dis- position of commissions and ownership of the business, the Agreement shall be involuntarily cancelled. If a former spouse or former entity affiliate has completely relinquished all rights to his/ her original Velovita business he/she is therefore free to enroll under any enroller of his/ her choosing, so long as he/she meets the waiting period set forth by Xxxxxxxx. In such a case, however, the former spouse or party shall have no rights to any Member in his/her organization or any former Member.
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Divorce or Dissolution. During the pendency of divorce or entity dissolution, both parties must adopt one of the following methods of operation: • One of the parties may, with written consent of the other(s) and with TAUKEMAS , operate the TAUKEMAS business, agreeing to deal directly and solely with the other spouse or nonrelinquishing shareholder, partner, or trustee; or • The parties may continue to operate the TAUKEMAS business jointly on a business-as-usual basis, whereby all compensation paid by TAUKEMAS will be paid in the joint names of the distributors or in the name of the entity to be divided as the parties may independently agree between themselves. Under no circumstance will TAUKEMAS split commissions and bonus checks between divorcing spouses or members of dissolving entities. TAUKEMAS will recognize only one (1) downline organization and will issue only one (1) commission check per TAUKEMAS business per commission cycle. Commission checks shall always be issued to the same individual or entity. In the event that parties of a divorce or a dissolution proceeding are unable to resolve a dispute over the disposition of commissions and ownership of the business, the Distributor Agreement shall be involuntarily cancelled.
Sample 1
Divorce or Dissolution. If you inform us of your pending divorce or business affiliation dissolution, we advise all parties to seek independent tax advice. You may have conflicting interests, and this agreement also serves as a conflict of interest waiver. We may not be able to advise either of you until your divorce is finalized. For example, your income tax return filing status is an item about which we will need instruction. Electing a filing status of married filing jointly establishes joint liability for taxes owed and requires that certain tax-related decisions be made prior to the preparation of income tax returns. Consequently, we will require a letter of instruction from both of your divorce attorneys identifying items needed to prepare your tax return and your agreement to same before the tax returns can be prepared. In the event that you elect to file separate tax returns, you will both be required to sign new engagement letters prior to the preparation of your returns. CPA Firm Responsibilities Unless otherwise noted, we will perform our services in accordance with the Statements on Standards for Tax Services (“SSTSs”) issued by the American Institute of Certified Public Accountants (“AICPA”) and U.S. Treasury Department Circular 230 (“Circular 230”). It is our duty to perform services with the same standard of care that a reasonable income tax preparer would exercise in this type of engagement. It is your responsibility to safeguard your assets and maintain accurate records pertaining to transactions. We will not hold your property in trust for you, or otherwise accept fiduciary duties in the performance of the engagement. We will prepare the returns using the appropriate Forms (1120S, 1120, 1065, 1041) for business and trust returns as directed by you. Filing status for Individual tax returns will be based upon prior year filing status (single, married filing jointly, married filing separately, head of household or qualifying widow[er] with dependent child). If your filing status has changed, you wish to change your filing status, or you have questions about your filing status, please contact us immediately. *Confidentiality If consulting or tax returns prepared in connection with this engagement are joint or filed using the married filing jointly filing status, both spouses are deemed to be clients of the firm under the terms of this agreement. Both individuals acknowledge that there is no expectation of privacy from the other concerning our services in connection ...
Sample 1
Divorce or Dissolution. ‌ During the pendency of divorce or entity dissolution, both parties must adopt one of the following methods of operation: • One of the parties may, with written consent of the other(s) and with BF International , operate the BF International business, agreeing to deal directly and solely with the other spouse or no relinquishing shareholder, partner, or trustee; or • The parties may continue to operate the BF International business jointly on a business-as-usual basis, whereby all compensation paid by BF International will be paid in the joint names of the distributors or in the name of the entity to be divided as the parties may independently agree between themselves. Under no circumstance will BF International split commissions and bonus checks between divorcing spouses or members of dissolving entities. BF International will recognize only one (1) downline organization and will issue only one (1) commission check per BF International business per commission cycle. Commission checks shall always be issued to the same individual or entity. In the event that parties of a divorce or a dissolution proceeding are unable to resolve a dispute over the disposition of commissions and ownership of the business, the Distributor Agreement shall be involuntarily cancelled.
Sample 1
Divorce or Dissolution. During the pendency of divorce or entity dissolution, both parties must adopt one of the following methods of operation:
Sample 1

Related to Divorce or Dissolution

  • Dissolution The Company shall be dissolved and its affairs shall be wound up on the first to occur of the following:

  • DISTRIBUTIONS AFTER DISSOLUTION Upon dissolution, the Company must pay its debts before distributing cash, assets, or capital to the Members or the Members’ interests. The Members agree that any distributions occurring after the dissolution of the Company will follow the process outlined in this Agreement and Section 00-00-000 of the Act.

  • Dissolution Event If there is a Dissolution Event before the termination of this Safe, the Investor will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds equal to the Cash-Out Amount, due and payable to the Investor immediately prior to the consummation of the Dissolution Event.

  • Death Disability Dissolution If the Optionee is a natural person who dies while involved in a Business Relationship with the Corporation, this option may be exercised, to the extent otherwise exercisable on the date of his death, by his estate, personal representative or beneficiary to whom this option has been assigned pursuant to Section 10, at any time within 180 days after the date of death, but not later than the scheduled expiration date. If the Optionee is a natural person whose Business Relationship with the Corporation is terminated by reason of his disability (as defined in the Plan), this option may be exercised, to the extent otherwise exercisable on the date the Business Relationship was terminated, at any time within 180 days after the date of such termination, but not later than the scheduled expiration date. At the expiration of such 180-day period or the scheduled expiration date, whichever is the earlier, this option shall terminate and the only rights hereunder shall be those as to which the option was properly exercised before such termination. If the Optionee is a corporation, partnership, trust or other entity that is dissolved, liquidated, becomes subject to a voluntary or involuntary bankruptcy proceeding, has a receiver appointed for all or a substantial portion of its property or enters into a merger or acquisition with respect to which such optionee is not the surviving entity at the time when such entity is involved in a Business Relationship with the Corporation, this Option shall immediately terminate as of the date of such event, and the only rights hereunder shall be those as to which this option was properly exercised before such dissolution or other event.

  • Dissolution of Entity The Contractor shall notify the County immediately of any intention to discontinue existence of the entity or to bring an action of dissolution.

  • Dissolution and Winding Up The Company shall dissolve and its business and affairs shall be wound up pursuant to a written instrument executed by the Member. In such event, after satisfying creditors, all remaining assets shall be distributed to the Member.

  • Events of Dissolution The Company shall be dissolved upon the happening of any of the following events:

  • NO DISSOLUTION, NO NULLIFICATION To the extent permitted by law, the parties hereby waive their rights pursuant to Articles 6:265 to 6:272 inclusive of the Dutch Civil Code to dissolve (ontbinden), or demand in legal proceedings the dissolution (ontbinding) of, this Agreement. Furthermore, to the extent permitted by law, the parties hereby waive their rights under Article 6:228 of the Dutch Civil Code to nullify (vernietigen), or demand in legal proceedings the nullification (vernietiging) of, this Agreement on the ground of error (dwaling).

  • Winding Up Upon dissolution of the Company, the Company shall continue solely for the purposes of winding up its business and affairs as soon as reasonably practicable. Promptly after the dissolution of the Company, the Manager shall immediately commence to wind up the affairs of the Company in accordance with the provisions of this Agreement and the Act. In winding up the business and affairs of the Company, the Manager may, to the fullest extent permitted by law, take any and all actions that it determines in its sole discretion to be in the best interests of the Members, including, but not limited to, any actions relating to (i) causing written notice by registered or certified mail of the Company’s intention to dissolve to be mailed to each known creditor of and claimant against the Company, (ii) the payment, settlement or compromise of existing claims against the Company, (iii) the making of reasonable provisions for payment of contingent claims against the Company and (iv) the sale or disposition of the properties and assets of the Company. It is expressly understood and agreed that a reasonable time shall be allowed for the orderly liquidation of the assets of the Company and the satisfaction of claims against the Company so as to enable the Manager to minimize the losses that may result from a liquidation.

  • Dissolution and Liquidation (Check One)

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