No Liquidation Clause Samples
The No Liquidation clause prohibits one party from forcing the sale or liquidation of the other party’s assets under certain circumstances, typically in the event of a default or dispute. In practice, this means that even if a party fails to meet its obligations, the other party cannot immediately seize and sell off assets to recover losses; instead, alternative remedies or dispute resolution processes may be specified. This clause serves to protect parties from sudden asset loss and provides a more controlled approach to resolving financial disagreements, thereby reducing the risk of destabilizing a business due to forced asset sales.
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No Liquidation. Company shall not adopt a plan of complete or partial liquidation or resolutions providing for or authorizing such a liquidation or a dissolution, restructuring, recapitalization or reorganization.
No Liquidation. Seller will not, without the prior written consent of Buyer, liquidate, wind up its affairs or otherwise terminate its existence or enter into or consummate any transaction that would result in Seller being owned, directly or indirectly, by any Person other than the Members (a “Seller Liquidation”) on or prior to the three (3)-year anniversary of the date hereof. Upon the occurrence of any such Seller Liquidation, the Members will assume all rights, obligations and liabilities of Seller hereunder.
No Liquidation. Parent shall not, and shall not permit any of its subsidiaries to, adopt any plan of complete or partial liquidation or dissolution, restructuring, recapitalization or reorganization.
No Liquidation. ▇▇▇▇▇ shall not, and shall not permit any of its Significant Subsidiaries to, adopt a plan of complete or partial liquidation or resolutions providing for or authorizing such a liquidation or a dissolution, restructuring, recapitalization or reorganization.
No Liquidation. Except as permitted by Section 4.1(p), Company shall not, and shall not permit any of its Subsidiaries to, adopt a plan of complete or partial liquidation, dissolution, restructuring, recapitalization or reorganization or resolutions providing for or authorizing such a liquidation, dissolution, restructuring, recapitalization or reorganization.
No Liquidation. Company shall not, and shall not permit any of its subsidiaries to, adopt any plan of complete or partial liquidation or dissolution, restructuring, recapitalization or reorganization.
No Liquidation. Parent shall not, and shall not permit any of its Significant Subsidiaries to, adopt a plan of complete or partial liquidation or resolutions providing for or authorizing such a liquidation or a dissolution, restructuring, recapitalization or reorganization.
No Liquidation. Neither the Seller nor any Target Entity has:
(a) gone, or is proposed to go, into liquidation;
(b) passed a winding-up resolution or commenced steps for winding-up or dissolution; or
(c) received a deregistration notice under section 601AB of the Corporations Act or applied for deregistration under section 601AA of the Corporations Act.
No Liquidation. RVI shall not, and shall not permit any of its Subsidiaries to, adopt a plan of complete or partial liquidation or resolutions providing for or authorizing such a liquidation or a dissolution, restructuring, recapitalization or reorganization.
No Liquidation. Neither the China JV nor its equity holders have approved or commenced any proceeding or made any election contemplating the dissolution or liquidation of the China JV or the winding up or cessation of the business or affairs of the China JV.