the dissolution Clause Samples
The dissolution clause defines the process and conditions under which a legal entity, such as a partnership or corporation, is formally brought to an end. Typically, this clause outlines the specific events or decisions—such as mutual agreement, expiration of a term, or occurrence of a triggering event—that can initiate dissolution, and details the steps for winding up affairs, including settling debts and distributing remaining assets among stakeholders. Its core practical function is to provide a clear, orderly framework for ending the entity’s existence, thereby minimizing disputes and ensuring all parties understand their rights and obligations during the dissolution process.
the dissolution consolidation, merger or transfer of a substantial part of the property of the Company;
the dissolution merger or consolidation of the Borrower or any other guarantor(s) or the sale, divestiture or other disposition of any or all of the interest of the Borrower or any other guarantor(s) in any collateral.
the dissolution. On the terms and subject to the conditions set forth in this Agreement, and in accordance with the DGCL and the Mesa Stockholder Consent, as defined herein, within two (2) Business Days after the Closing Date, Mesa shall file a certificate of dissolution (the “Mesa Certificate of Dissolution”) with the Secretary of State of Delaware to dissolve Mesa (the “Dissolution”) and to effect the distribution of the Stock Consideration and the Derivative Consideration in accordance with Sections 2.1 and 2.2 in furtherance of the Reorganization.
the dissolution liquidation, filing of a voluntary petition in bankruptcy or seeking protection from the Company's creditors under other insolvency laws.