Common use of DISSOLUTION Clause in Contracts

DISSOLUTION. The Company ends at the expiration of the term fixed by the Articles of Association or for any other reason provided for by Article 1844-7 of the French Civil Code, i.e.: decision of the shareholders by the majority provided for amendments to the Articles of Association, the realization or extinction of the purpose of the Company, judicial dissolution for just cause and judicial liquidation. All shares being held by a single shareholder does not automatically dissolve the Company. Any concerned party may request this dissolution if the situation is not regularized within one year. In the event that the Company has not had a manager for more than one year, any interested party may apply to the court for the early dissolution of the Company. At least one year before the expiry of the Company, the shareholders, ruling in a meeting under the conditions of majority for extraordinary decisions, must be consulted in order to decide on the extension of the Company.