Liquidation Commission definition

Liquidation Commission as defined in Section 12.5.
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Liquidation Commission means the commission appointed by Decree of the Borrower to supervise the liquidation of DICOL;
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Examples of Liquidation Commission in a sentence

  • The Liquidation Commission shall appoint a President from among its members who shall represent it judicially and extra-judicially.

  • The Liquidation Commission shall consist of three (3) members, one to be appointed by Mediaplex, one to be appointed by LCE and one to act as an umpire.

  • After liquidation, the Liquidation Commission shall prepare and submit to the Board of Directors a report detailing the liquidation of the Company for approval.

  • The proceeds of the liquidation after satisfaction of the debts of the Company (including, but not limited to, debts owed to the Shareholders) and any expenses, including remuneration of the members of the Liquidation Commission and the umpire, shall be distributed between the Shareholders in proportion to the amount of capital contributions actually contributed to the Company and shall be allocated first to the refund to the Shareholders of the value of their capital contributions.

  • In the event the Board of Directors is unable to approve the proposals of the Liquidation Commission concerning liquidation, then the decision of the umpire shall be binding upon the Liquidation Commission, the Shareholders, the Board of Directors and the Company.

  • The two Shareholder representatives to the Liquidation Commission and the umpire shall act jointly but not separately.

  • If the Board of Directors fails to appoint the two Shareholder representatives to the Liquidation Commission or the umpire within thirty (30) days after the delivery of a Termination Notice, then the Shareholder representatives to the Liquidation Commission and/or the umpire shall be appointed by the Chairman of the Singapore Arbitration Centre (hereinafter "SIAC") at the request of either Shareholder.

  • The Board of Directors shall appoint a liquidation commission (hereinafter the "Liquidation Commission") and shall determine their powers, remuneration and procedures of liquidation.

  • If the Board of Directors fails to appoint the two Shareholder representatives to the Liquidation Commission or the umpire within thirty (30) days after the delivery of a Termination Notice, then the Shareholder representatives to the Liquidation Commission and/or the umpire shall be appointed by the Chairman of the Singapore Arbitration Centre (hereinafter “SIAC”) at the request of either Shareholder.

  • If Liquidation of defined assets is unsuitable or impossible because of technical, geophysics or other reasons, that assets are transferred to the Liquidation Commission, which has all authority in respect of disposal of assets, payments of the debts, making settlements with the Participants.