Common use of Organizational Transition Clause in Contracts

Organizational Transition. Local Church shall take all steps necessary to close and/or dissolve any legal entities of the Local Church and to settle, liquidate, or transfer all assets and obligations of such entities, or to establish any new legal entities, or to modify its current organizing documents as needed to effectuate its disaffiliation from The United Methodist Church, to the satisfaction of Annual Conference.

Organizational Transition. Local Church shall take all steps necessary to close and/or dissolve any legal entities of the Local Church and to settle, liquidate, or transfer all assets and obligations of such entities, or to establish any new legal entities, or to modify its current organizing documents documents, as needed to effectuate its disaffiliation from The United Methodist Church, Church to the satisfaction of Annual Conference.

Organizational Transition. Prior to the Disaffiliation Date, Local Church shall take all steps necessary to close and/or dissolve any legal entities of the Local Church and to settle, liquidate, or transfer all assets and obligations of such entities, or to establish any new legal entities, or to modify its current organizing documents documents, as needed to effectuate its disaffiliation from The United Methodist Church, Church to the satisfaction of Annual Conference.