Right to Dissolve Sample Clauses

Right to Dissolve. After notice of termination, the Holders ----------------- shall consult in good faith for sixty (60) days concerning the disposition of their respective interests in LAK and the future operations of LAK. If the Holders do not sign a written agreement regarding such matters within such sixty (60) days and if any application or petition is not submitted for the commencement of any proceedings described in Section 5.3(a)(ii), then each Holder shall have the option to cause dissolution of LAK under the Code by giving written notice of dissolution to the other Holders and LAK. Upon such notice, each Holder and LAK shall take all actions (including voting of Shares in favor for dissolution) required to dissolve and liquidate LAK in accordance with applicable laws and regulations.
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Right to Dissolve. After the occurrence of a Liquidating Event, the Holders shall consult in good faith for 60 days concerning the disposition of their respective interests in JVC and the future operations of JVC. If the Holders do not sign a written agreement regarding such matters during such 60-day period, then CBI shall have the option to cause liquidation or dissolution of JVC.
Sample 1
Right to Dissolve. After notice of termination by a Founder under 6.4.1, the Founders shall consult in good faith for 60 days concerning the disposition of their interests in Alpha and the future operations of Alpha. If the Founders do not sign a written agreement regarding such matters within the 60 days and if any application or petition is not submitted for the commencement of any proceedings described in Sections 6.4.1(a) or 6.4.1(b) above, then the Founder who gave the termination notice shall have the option to cause the dissolution of Alpha under British Virgin Island law by giving written notice of dissolution to the other Founder and Alpha. Upon such notice, each Founder and Alpha will take all actions (including voting of Shares in favour for dissolution) required to dissolve and liquidate Alpha in accordance with applicable laws and regulations. In this dissolution, Alpha will first auction its assets to the Founders in a process structured and supervised by Alpha's independent auditors, and then sell any remaining assets to third parties.
Sample 1

Related to Right to Dissolve

  • Liquidation or Dissolution In the event the Company is liquidated or dissolved, the assets of the Company shall be distributed to the Members in accordance with the provisions of Section 11.

  • No Dissolution Except as required by the Act, the Partnership shall not be dissolved by the admission of additional Partners or withdrawal of Partners in accordance with the terms of this Agreement. The Partnership may be dissolved, liquidated wound up and terminated only pursuant to the provisions of this Article IX, and the Partners hereby irrevocably waive any and all other rights they may have to cause a dissolution of the Partnership or a sale or partition of any or all of the Partnership assets.

  • Liquidation; Dissolution; Bankruptcy Upon any payment or distribution of the assets of the Company to creditors upon a total or partial liquidation or a total or partial dissolution of the Company or in a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Company or its property:

  • Early Dissolution The first to occur of any of the following events is an "Early Dissolution Event," upon the occurrence of which the Trust shall dissolve:

  • Distributions on Dissolution and Winding Up Upon the dissolution and winding up of the Company, after adjusting the Capital Accounts for all distributions made under Section 5.01 and all allocations under Article 5, all available proceeds distributable to the Members as determined under Section 11.02 shall be distributed to all of the Members to the extent of the Members' positive Capital Account balances.

  • Distribution on Dissolution and Liquidation In the event of the dissolution of the Company for any reason, the business of the Company shall be continued to the extent necessary to allow an orderly winding up of its affairs, including the liquidation and termination of the Company pursuant to the provisions of this Section 7.3, as promptly as practicable thereafter, and each of the following shall be accomplished:

  • Events of Dissolution The Company shall be dissolved upon the happening of any of the following events:

  • Payments May Be Paid Prior to Dissolution Nothing contained in this Article X or elsewhere in this Indenture shall prevent (i) the Guarantors, except under the conditions described in Sections 10.2 and 10.3, from making payments at any time for the purpose of making payments of principal of and interest on the Notes, or from depositing with the Trustee any moneys for such payments, or (ii) in the absence of actual knowledge by a Responsible Officer of the Trustee that a given payment would be prohibited by Section 10.2 or 10.3, the application by the Trustee of any moneys deposited with it for the purpose of making such payments of principal of, and interest on, the Notes to the Holders entitled thereto unless at least two Business Days prior to the date upon which such payment would otherwise become due and payable a Responsible Officer shall have actually received the written notice provided for in the first sentence of Section 10.2(b) or in Section 10.7 or in the last sentence of this Section 10.4 (provided that, notwithstanding the foregoing, the subordination of the Guarantees to Guarantor Senior Debt shall not be affected and the Holders receiving any payments made in contravention of Section 10.2 and/or 10.3 (and the respective such payments) shall otherwise be subject to the provisions of this Article X). The Company shall give prompt written notice to the Trustee of any dissolution, winding-up, liquidation or reorganization of any Guarantor, although any delay or failure to give any such notice shall have no effect on the subordination provisions contained herein.

  • Notice of Dissolution In the event a Liquidating Event occurs or an event occurs that would, but for the provisions of an election or objection by one or more Partners pursuant to Section 13.1, result in a dissolution of the Partnership, the General Partner shall, within thirty (30) days thereafter, provide written notice thereof to each of the Partners.

  • Liquidation; Dissolution If the Company shall dissolve, liquidate or wind up its affairs, the Holder shall have the right, but not the obligation, to exercise this Warrant effective as of the date of such dissolution, liquidation or winding up. If any such dissolution, liquidation or winding up results in any cash distribution to the Holder in excess of the aggregate Exercise Price for the shares of Common Stock for which this Warrant is exercised, then the Holder may, at its option, exercise this Warrant without making payment of such aggregate Exercise Price and, in such case, the Company shall, upon distribution to the Holder, consider such aggregate Exercise Price to have been paid in full, and in making such settlement to the Holder, shall deduct an amount equal to such aggregate Exercise Price from the amount payable to Holder.

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