Liquidation Upon Termination Sample Clauses

Liquidation Upon Termination. (a) Upon termination of this Agreement, the parties hereto shall carry on no business in connection with the Investment Property except for the purpose of satisfying any Investment Property Liabilities and winding up its affairs in connection with the Investment Property. The powers of all the parties under this Agreement shall continue until the affairs of the parties shall be wound up.
AutoNDA by SimpleDocs
Liquidation Upon Termination. In the event of termination, the Company shall engage in no further business other than that necessary to complete if legally required any contracts entered into before termination pursuant to Clause 9.2, and the Members shall thereafter do all such things and take all such steps as may be necessary for the orderly winding-up of the Company under applicable law and distribution of the remaining assets, if any, to the Members in accordance with their respective Unit ownership in the Company. Assets of the Company not deemed to be site improvements to real property under that certain Lease Agreement dated November 9, 2009, which shall include, without limitation, transloaders, equipment and vehicles, shall be sold by the Chief Manager unless the parties appoint a liquidator. The liquidator shall be a registered public accounting firm recognized by the Public Company Accounting Oversight Board.
Liquidation Upon Termination. In the event of termination, the Company shall engage in no further business other than that necessary to complete if legally required any contracts entered into before termination pursuant to Clause 9.2, and the Members shall thereafter do all such things and take all such steps as may be necessary for the orderly winding-up of the Company under applicable law and distribution of the remaining assets, if any, to the Members in accordance with their respective Unit ownership in the Company. Assets of the Company not deemed to be site improvements to real property under that certain Amended and Restated Lease Agreement dated June 1, 2012, as amended from time to time, which shall include, without limitation, transloaders, equipment and vehicles, shall be sold by the Transloading Manager unless the parties appoint a liquidator. The liquidator shall be a registered public accounting firm recognized by the Public Company Accounting Oversight Board.
Liquidation Upon Termination. Upon a termination of this Agreement, the Board of Directors will wind up the affairs of the Company as follows:

Related to Liquidation Upon Termination

  • Action Upon Termination (a) From and after the effective date of termination of this Agreement, pursuant to Sections 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:

  • Condition upon Termination Upon the termination of the -------------------------- Lease, Tenant shall surrender the Property to Landlord, broom clean and in the same condition as received except for ordinary wear and tear which Tenant was not otherwise obligated to remedy under any provision of this Lease. However, Tenant shall not be obligated to repair any damage which Landlord is required to repair under Article 7 (Damage or Destruction). In addition, Landlord may require Tenant to remove any alterations, additions or improvements (whether or not made with Landlord's consent) prior to the expiration of the Lease and to restore the Property to its prior condition, all at Tenant's expense. All alterations, additions and improvements which Landlord has not required Tenant to remove shall become Landlord's property and shall be surrendered to Landlord upon the expiration or earlier termination of the Lease, except that Tenant may remove any of Tenant's machinery or equipment which can be removed without material damage to the Property. Tenant shall repair, at Tenant's expense, any damage to the Property caused by the removal of any such machinery or equipment. In no event, however, shall Tenant remove any of the following materials or equipment (which shall be deemed Landlord's property) without Landlord's prior written consent: any power wiring or power panels; lighting or lighting fixtures; wall coverings; drapes, blinds or other window coverings; carpets or other floor coverings; heaters, air conditioners or any other heating or air conditioning equipment; fencing or security gates; or other similar building operating equipment and decorations except to the extent installed by Tenant.

  • Resignation upon Termination Effective as of any Date of Termination under this Section 7 or otherwise as of the date of Executive's termination of employment with the Company, Executive shall resign, in writing, from all Board memberships and other positions then held by him with the Company and its Affiliates.

  • Compensation Upon Termination Upon termination of Executive’s employment during the Employment Term, Executive shall be entitled to the following benefits:

  • Termination Upon a Change of Control If Executive’s employment by the Employer, or any Affiliate or successor of the Employer, shall be subject to a Termination within a Covered Period, then, in addition to Minimum Payments, the Employer shall provide Executive the following benefits:

  • Payment Upon Termination In the event that the City or Consultant terminates this Agreement pursuant to Section 8, the City shall compensate the Consultant for all outstanding costs and reimbursable expenses incurred for work satisfactorily completed as of the date of written notice of termination. Consultant shall maintain adequate logs and timesheets in order to verify costs incurred to that date. The City shall have no obligation to compensate Consultant for work not verified by logs or timesheets.

  • Termination Upon Repurchase or Liquidation of All Mortgage Loans.............................................. SECTION 9.02

  • Actions Upon Termination In the event of termination not the fault of the Contractor, the Contractor shall be paid for the services properly performed prior to termination, together with any reimbursable expenses then due, but in no event shall such compensation exceed the maximum compensation to be paid under the Contract. The Contractor agrees that this payment shall fully and adequately compensate the Contractor and all subcontractors for all profits, costs, expenses, losses, liabilities, damages, taxes, and charges of any kind whatsoever (whether foreseen or unforeseen) attributable to the termination of this Contract. Upon termination for any reason, the Contractor shall provide Seattle with the most current design documents, contract documents, writings and other product it has completed to the date of termination, along with copies of all project-related correspondence and similar items. Seattle shall have the same rights to use these materials as if termination had not occurred.

  • Payments Upon Termination 4.1 The Customer shall pay the Company liquidated damages (total monthly fee as specified in the Sales and Services Agreement x remaining months in the Term) upon the occurrence of any of the following events before the expiry of the Term:

  • Benefits Upon Termination If the Executive’s employment by the Company is terminated during the Period of Employment for any reason by the Company or by the Executive, or upon or following the expiration of the Period of Employment (in any case, the date that the Executive’s employment by the Company terminates is referred to as the “Severance Date”), the Company shall have no further obligation to make or provide to the Executive, and the Executive shall have no further right to receive or obtain from the Company, any payments or benefits except as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.