Plan of Division definition

Plan of Division means a plan of division adopted by a Delaware LLC as required by any applicable governmental authority in order to legally effectuate a Delaware LLC Division, including, without limitation, a plan of division as described in Section 18-217 of the Delaware Limited Liability Company Act, as amended from time to time.

Plan of Division means a plan of division approved by a

Plan of Division. MEANS A PLAN OF DIVISION THAT IS

Examples of Plan of Division in a sentence

• This agreement, among other things, confirmed the Plan of Division approved by the Company’s board of managers on November 23, 2020, whereby Banner Holdings was formed becoming Banner’s parent company.

• Neither Borrower, Guarantor nor any Person (a) obligated to pay all or any part of any sums that are, or may become, due under the Loan Documents, or (b) who is, or may become, obligated to perform any obligations secured by the Security Instrument, in either case, has created or adopted a Plan of Division, or filed a Certificate of Division, or has otherwise effectuated an LLC Division or LP Division of Borrower, Guarantor or such Person.

• Following the Plan of Division and the transactions contemplated by the Merger Agreement, and in accordance therewith, MSA Safety Jacksonville Manufacturing, LLC, a newly formed Pennsylvania limited liability company (“MSAJ”) and a Wholly-Owned Subsidiary of MSAW, shall be the ultimate transferee of the operating assets and specified liabilities described as the “MSA SJM Assets” and the “MSA SJM Liabilities” in the Plan of Division (as defined below).

• To the extent that any executory contract or unexpired lease set forth on Exhibit 8.1 to the Plan is to be assigned and/or allocated to one of the AWI Progeny pursuant to the Plan of Division, any such assignment and/or allocation will be set forth in the Plan of Division.

• The Trust may also participate in a division of the Trust, similar to a division of a Pennsylvania business corporation, pursuant to a Plan of Division under 15 Pa.C.S. Subchapter 19D (relating to division of corporation).

More Definitions of Plan of Division

Plan of Division means a plan of division that is approved by a dividing insurer pursuant to section 8.

Plan of Division means a plan of division approved by a dividing insurer in accordance with section 5505.

Plan of Division shall have the meaning set forth in the Recitals.

Plan of Division shall have the meaning assigned to such term in the Separation Agreement.

Plan of Division means (a) any division or plan of division adopted pursuant to the Delaware Limited Liability Company Act by a Delaware limited liability company whereby such limited liability company is divided into two or more limited liability companies and the assets, property, rights, series, debts, liabilities and duties of such limited liability company are allocated among the resulting limited liability companies or (b) any analogous plan or scheme adopted pursuant to the applicable laws of another jurisdiction by a Person organized under the applicable laws of such other jurisdiction.

Plan of Division means a plan of division approved by a dividing company in accordance Section 35B-20.

Plan of Division means, in connection with a Division, a plan of division adopted in accordance with, and pursuant to, the insurance Laws of the State of Connecticut.