MLAC definition
Examples of MLAC in a sentence
MLAC (Moray Local Awards Committee) is a charitable organisation that’s sole aim is to support the delivery of the DofE Award in Moray.
MLAC agree to abide by their constitution by providing regular meetings for all volunteers involved in DofE in Moray.
The Company, MBI, MAMTS, MNR, MLAC and MAMTS Netherlands are sometimes referred to herein collectively as the “Transaction Parties” and each individually as a “Transaction Party”.
If the Closing does not occur, each party will destroy or return, as requested by the disclosing party, to the disclosing party all copies of documents that contain that party's Confidential Information.
All issued and outstanding shares of MLAC as of the Effective Time, held by MICC, consisting of 30,000 shares of common stock $100.00 par value per share) (“MLAC Stock”), by virtue of the Merger and without any action on the part of MLAC, MICC or any holder of MLAC Stock or MICC Stock (defined below), shall be surrendered and extinguished.
As a result of the merger, the Company also has become responsible for all of MLAC's liabilities and obligations, including those relating to the MLAC contract.
In accordance with the provisions of the Applicable Law of the State of Connecticut, and subject to the terms and conditions of this Agreement, MLAC shall be merged with and into MICC, with MICC being the surviving corporation (in its capacity as the surviving corporation, MICC being referred to herein as the “Surviving Corporation”).
MLAC represents and warrants to MICC that: (a) (i) the authorized capital stock of MLAC consists of 100,000 shares of $100.00 par value common stock, and (ii) the issued and outstanding capital stock of MLAC consists of 30,000 shares of common stock, (b) except for this Agreement, no agreement, arrangement or commitment relating to the capital stock of MLAC exists; (c) no securities convertible into capital stock of MLAC exist; and (d) MICC is the sole owner of the MLAC capital stock.
On December 7, 2007, MLAC, a wholly-owned subsidiary of the Company and an indirect, wholly-owned subsidiary of MetLife, Inc., merged with and into the Company.
At the Effective Time, the MLAC Stock shall be cancelled and retired, all rights in respect thereof shall cease to exist, and no shares or other securities of the Surviving Corporation shall be issued with respect thereto.