Duration and Dissolution Sample Clauses
The 'Duration and Dissolution' clause defines the period during which an agreement, partnership, or entity will remain in effect and outlines the conditions under which it may be terminated or dissolved. Typically, this clause specifies whether the arrangement is for a fixed term or continues indefinitely, and details the procedures for ending the relationship, such as notice requirements or triggering events like mutual agreement or breach. Its core practical function is to provide certainty and structure regarding the lifespan of the agreement, ensuring all parties understand when and how their obligations may come to an end.
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Duration and Dissolution. The duration of the Company shall be perpetual.
Duration and Dissolution. The Partnership shall be dissolved and its affairs shall be wound up upon the first to occur of the following:
(a) the entry of a decree of judicial dissolution of the Partnership under Section 17-802 of the Act; and
(b) the determination of the General Partner to dissolve the Partnership. Except as provided in this Agreement, the death, Disability, resignation, expulsion, bankruptcy or dissolution of any Partner or the occurrence of any other event which terminates the continued participation of any Partner in the Partnership shall not cause the Partnership to be dissolved or its affairs wound up; provided, however, that at any time after the bankruptcy of the General Partner, the holders of a majority of the outstanding Class B Common Units may, pursuant to prior written consent to such effect, replace the General Partner with another Person, who shall, after executing a written instrument confirming such Person’s agreement to be bound by all the terms and provisions of this Agreement, (i) become a successor General Partner for all purposes hereunder, (ii) be vested with the powers and rights of the replaced General Partner, and (iii) be liable for all obligations and responsible for all duties of the replaced General Partner from the date of such replacement.
Duration and Dissolution. The Company shall be dissolved and its affairs shall be wound up upon the affirmative vote or written consent of the Initial Member or as otherwise required by the Act.
Duration and Dissolution. (a) The Company shall be dissolved, and its affairs shall be wound up upon the first to occur of the following: (i) subject to the provisions of Section 16.9, 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 this Agreement or the Act or (ii) the entry of a decree of judicial dissolution under Section 18-802 of the Act. Upon the occurrence of any event that causes the last remaining member of the Company to cease to be a member of the Company or that causes the last remaining Member to cease to be a member of the Company (other than upon continuation of the Company without dissolution upon (i) an assignment by such Member of all of its limited liability company interest in the Company and the admission of the transferee, or (ii) the resignation of such Member and the admission of an additional 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 such event, agree in writing (i) to continue the Company and (ii) 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 such member in the Company.
(b) Notwithstanding any other provision of this Agreement, the bankruptcy (as defined in Sections 18-101(1) and 18-304 of the Act) of a Member or a Special Member shall not cause such Member or Special Member, respectively, to cease to be a member of the Company and upon the occurrence of such an event, the Company shall continue without dissolution or dissociation.
(c) In the event of dissolution of the Company, the Company shall conduct only such activities as are necessary to wind up its affairs (including the sale of the assets of the Company in an orderly manner), and the assets of the Company shall be applied in the manner, and in the order of priority, set forth in Section 18-804 of the Act.
(d) The Company shall terminate when (i) all of the assets of the Company, after payment of or due provision for all debts, liabilities and obligations of the Company, shall have been distributed to the Members in the manner provided for in...
Duration and Dissolution. The Company shall be dissolved and its affairs shall be wound up upon the first to occur of the following: (a) the Member votes for dissolution; or (b) the entry of a decree of judicial dissolution under Section 18-801 of the Act.
Duration and Dissolution. 31 SECTION 11.2
Duration and Dissolution. 227 The FIDO Alliance shall exist until such time as it is dissolved only by a Full Supermajority Vote 228 of the Board and a Full Supermajority Vote of the Executive Council.
Duration and Dissolution. The Company shall be dissolved and its affairs shall be wound up upon the first to occur of the following:
(a) the entry of a decree of judicial dissolution of the Company under Section 18-802 of the Delaware Act; and
(b) the dissolution or liquidation of Fortress Investment Holdings LLC, if Fortress Investment Holdings LLC is then a Member, unless the business of the Company is continued by the consent of all remaining Members within 90 days following the occurrence of such event. The remaining Members agree that they shall continue the Company. Except as provided in clause (b) above, the death, retirement, resignation, expulsion, bankruptcy or dissolution of any Member or the occurrence of any other event which terminates the continued membership of any Member in the Company shall not cause the Company to be dissolved or its affairs wound up.
Duration and Dissolution. Shared use of the residential space will be granted from to ______________. If both parties agree, the term may be extended after this period has expired. This is done in consultation with the responsible charitable organisation or the organisation responsible for supporting the host families. An ordinary mutual dissolution period of 14 days to the month’s end applies to any termination of the accommodation relationship (Art. 266e OR). The lease or sub- lease may be terminated (by either party) at any time (subject to compliance with the dissolution period) for good cause which makes it unreasonable to continue the lease or sub-lease (Art. 266g OR). This termination must be served to each spouse in writing using the official termination form of the local homeowners' association (Art. 266n OR). The charitable organisation or the organisation responsible for supporting the host families must be informed immediately in the event that the relationship is to be dissolved. The cantonal or municipal authority is responsible for providing accommodation after the period with the host has come to an end. The authority is supported by the charitable organisation or the organisation responsible for supporting the host families in its search for a follow-on solution.
Duration and Dissolution. This Agreement shall remain in effect, subject to the following: (1) any Participant may withdraw at any time as provided in Section 6.D. of this Agreement; (2) should all but one Participant withdraw, the Agreement shall end and the Consortium shall be dissolved; (3) the Agreement may be ended and the Consortium dissolved by a vote of the Board; (4) remaining funds shall be distributed in accordance with the Bylaws.