The Plan of Liquidation. (a) Subject to the conditions specified in the penultimate sentence of Section 1 of this Annex B, and in accordance with Delaware Law, at the Effective Time, the Board shall cause the Dissolution of the Company. As a result of the Dissolution, the Company shall settle and close its business and distribute to its stockholders any remaining assets pursuant to the Plan of Liquidation.
Appears in 7 contracts
Samples: Stock Purchase Agreement (Ashner Michael L), Stock Purchase Agreement (Shelbourne Properties I Inc), Stock Purchase Agreement (Shelbourne Properties Ii Inc)
The Plan of Liquidation. (a) Subject to the conditions specified in the penultimate last sentence of Section 1 of this Annex B, and in accordance with Delaware Law, at the Effective TimeTime of each Dissolution, the Board each board of directors shall cause the a Dissolution of the its respective Company. As a result of the each Dissolution, the each Company shall settle and close its business and distribute to its stockholders any remaining assets pursuant to the a Plan of Liquidation.
Appears in 4 contracts
Samples: Stock Purchase Agreement (Shelbourne Properties I Inc), Settlement Agreement and Mutual Release (Ashner Michael L), Settlement Agreement and Mutual Release (Ashner Michael L)
