Dissolution or Liquidation definition

Dissolution or Liquidation means the entry of a Final Order by the Bankruptcy Court dismissing or converting the Chapter 11 Case to a case under Chapter 7 of the Bankruptcy Code, pursuant to section 1112 of the Bankruptcy Code.
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Examples of Dissolution or Liquidation in a sentence

  • In all cases, this Option may terminate earlier than provided in this paragraph or earlier than the expiration of the post-termination exercise period indicated below pursuant to Section 12 (“Adjustments; Dissolution or Liquidation; Merger or Change in Control”) of the Plan.

  • Dissolution or Liquidation To the extent not previously exercised, the Option shall terminate immediately prior to the dissolution or liquidation of the Company.

  • The Award shall be adjusted by the Committee at the same time as adjustments are made in accordance with Section 15 of the Plan with regard to "Adjustments; Dissolution or Liquidation; Change in Control" in a manner similar to, and subject to, the same requirements under Section 15 of the Plan.

  • Nothing in this Condition 14.3 (Winding-up, Dissolution or Liquidation) shall, however, prevent the Trustee (or the Delegate) from taking such steps, actions or proceedings as described in Condition 14.3(a) (Proceedings for Winding-up) in respect of any payment obligations of the Bank arising from the Mudaraba Agreement or any other Transaction Document (including any damages awarded for breach of any obligations).

  • If a Bankruptcy, Dissolution or Liquidation Event occurs, the Holder hereof will be entitled to declare its Notes due and demand immediate redemption thereof at the Redemption Amount, together with accrued and unpaid interest, if any, to the date of repayment and Optionally Outstanding Payments, if any.

  • Such payment obligations form part of the Trust Assets and the Trustee and/or the Delegate (acting in the name and on behalf of the Trustee) will, subject to Condition 4.2 (Subordination) and Condition 14.3 (Winding-up, Dissolution or Liquidation), have recourse against the Bank to recover payments due to the Trustee from the Bank pursuant to such Transaction Documents notwithstanding any other provision of this Condition 4.4 (Limited Recourse and Agreement of Certificateholders).

  • Upon receipt by the Trustee of a Dissolution Notice in accordance with the terms of Condition 14.1 (Bank Events), the sole rights of each of the Trustee and/or the Delegate will be (subject to Condition 14.3 (Winding-up, Dissolution or Liquidation)) against the Bank to perform its obligations under the Transaction Documents.

  • Such payment obligations form part of the Trust Assets and the Trustee and/or the Delegate (acting in the name and on behalf of the Trustee) will, subject to Condition 4.2 (Subordination) and Condition 14.3 (Winding-up, Dissolution or Liquidation), have recourse against the Bank to recover payments due to the Trustee from the Bank pursuant to such Transaction Documents notwithstanding any other provision of Condition 4.4 (Limited Recourse and Agreement of Certificateholders).

  • Bank Events Subject to Condition 12 (Dissolution Events and Winding-up), if a Bank Event occurs and a Dissolution Notice is delivered pursuant to Condition 12.1 (Bank Events), and if so requested in writing by the Certificateholders of at least one-fifth of the then aggregate face amount of the Certificates outstanding, the Trustee and/or the Delegate shall, subject to Condition 12.3 (Winding-up, Dissolution or Liquidation), take the actions referred to therein.

  • The Trustee may exercise its enforcement rights in relation to the Mudaraba Agreement only in the manner provided in Condition 14.3 (Winding-up, Dissolution or Liquidation).

Related to Dissolution or Liquidation

  • dissolution “insolvency”, or “reorganisation” of a company or corporation shall be construed so as to include any equivalent or analogous proceedings under the law of the jurisdiction in which such company or corporation is incorporated or any jurisdiction in which such company or corporation carries on business including the seeking of liquidation, winding-up, reorganisation, dissolution, arrangement, protection or relief of debtors;

  • Liquidation means the distributions of the Trust Account to the Public Shareholders in connection with the redemption of Ordinary Shares held by the Public Shareholders pursuant to the terms of the Company’s Amended and Restated Memorandum and Articles of Association, as amended, if the Company fails to consummate a Business Combination.

  • Winding-Up dissolution", "insolvency", or "reorganization" in the context of a company or corporation shall have the same meaning as defined in the Companies Act, 1956/ Companies Act, 2013 (as the case may be).

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding-up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Cash Liquidation As to any defaulted Mortgage Loan other than a Mortgage Loan as to which an REO Acquisition occurred, a determination by the Master Servicer that it has received all Insurance Proceeds, Liquidation Proceeds and other payments or cash recoveries which the Master Servicer reasonably and in good faith expects to be finally recoverable with respect to such Mortgage Loan.