Common use of Termination Requirements Clause in Contracts

Termination Requirements. This Agreement may only be terminated by consent of all Equity Members, and upon full and complete liquidation of all liabilities, including, but not limited to, the Revenue Bonds. Upon the date of termination (hereinafter “Termination Date”), payment of any and all obligations and division of any and all assets of the SBWMA shall be conducted subject to the then-applicable requirements of the law (currently California Government Code §6511 et seq.), pursuant to the following:

Termination Requirements. This Agreement may only be terminated by consent of all Equity Members, and upon full and complete liquidation of all liabilities, including, but not limited to, the Revenue Bonds. Upon the date of termination (hereinafter “Termination Date”), payment of any and all obligations and division of any and all assets of the SBWMA shall be conducted subject to the then-then- applicable requirements of the law (currently California Government Code §6511 et seq.), pursuant to the following: