Voluntary liquidation definition

Voluntary liquidation means the dissolution of a solvent Federal credit union with the assets being sold or col- lected, liabilities paid, and shares dis- tributed under the direction of the board of directors or its duly appointed liquidating agent.
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Voluntary liquidation means, in respect of a person, the failure of the person to continue owning a substantial part of its existing assets or operate its existing business, whether as a result of (i) a sale, lease, transfer, exclusive license or other disposition, directly or indirectly, of all or substantially all of the assets of Obligor or (ii) a liquidation, dissolution or winding up of Obligor or (iii) any amalgamation, consolidation, reorganization, restructuring or transaction with a similar impact.
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Voluntary liquidation means a situation in which a bank or financial institution initiates voluntary liquidation pursuant to Chapter 11.
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Examples of Voluntary liquidation in a sentence

  • Voluntary liquidation In the event of dissolution of the SICAV, it shall be liquidated by one or more liquidators appointed in accordance with the Law of 2010 and in accordance with the SICAV’s Articles of Association.

  • If RHS determines that foreclosure is in the best interest of the Government, RHS will send an acceleration notice to each borrower and any cosigner.(d) Voluntary liquidation.

  • Voluntary liquidation authorized - Qualification of liquidating committee.Repealed by S.L. 1967, ch.

  • Voluntary liquidation Not later than two months prior to the adoption of a resolution by the shareholders’ meeting in respect of whether the Company shall be placed into voluntary liquidation, the Option holders shall be notified of the intended liquidation.

  • The following actions require prior written ministerial consent, following consultation with the Minister of National Infrastructures: Voluntary liquidation of the Company; a settlement or arrangement between the Company and its creditors or shareholders; a merger of the Company with another company; a split of the Company, other than a split relating only to the transferring Company assets not used in refining crude oil, manufacturing fuel products and supplying them in Israel.

  • Voluntary liquidation methods such as pre-foreclosure sales and deed-in-lieu of foreclosure may be used to protect the Government’s interest once the servicer has examined other servicing options and determined the borrower cannot continue with the loan obligation.

  • With the Board’s prior approval, an Edge or agreement corporation may engage, directly or in- directly, in other activities in the United States that the Board deter- mines are incidental to their inter- national or foreign business.§ 211.7 Voluntary liquidation of Edge and agreement corporations.(a) Prior notice.

  • Voluntary Liquidation Voluntary liquidation can be utilised to wind up a company incorporated or registered in the Cayman Islands.

  • Voluntary liquidation shall be taken to commence at the time of passing the resolution for voluntary liquidation.

  • With the Board’s prior approval, an Edge or agreement corporation may engage, directly or in- directly, in other activities in the United States that the Board deter- mines are incidental to their inter- national or foreign business.§ 211.7 Voluntary liquidation of Edge and agreement corporations.


More Definitions of Voluntary liquidation

Voluntary liquidation means the liquidation of a company under Part X;
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Voluntary liquidation means the liquidation of a company under Part X; “voluntary liquidator” means a liquidator appointed under Part X.
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Voluntary liquidation. As part of ‘business decisions’ - Entity initiating systematic process to wind up without recoursing to the court; as a part of ‘free decisions’ - Members’ voluntary winding up for a solvent company → This ain’t profitable enough! = Initiated from settling a special resolution (75%) from the shareholders to wind up the company s 494 : ‘Declaration of Solvency’ → Directors ensuring that the company will pay all debts s 495 : ‘Liquidator appointment’ → via ordinary resolution (50%) / Directors’ power cease immediately - Creditors’ voluntary winding up for a insolvent company → When declaration of solvency is unable / unwanted
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Voluntary liquidation means a liquidation of all or a substantial part of the assets of the Company pursuant to (i) a proceeding commenced by the Company, or to which it has consented or acquiesced, seeking liquidation, dissolution, or similar relief under any federal or state law, including, without limitation, pursuant to the appointment, with the consent or acquiescence of the Company, of a trustee, receiver, or liquidator, or (ii) pursuant to the termination and dissolution of the Company in accordance with Section 7.8(a)(iii), Section 12.1(c) and/or Section 12.1(e).
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Voluntary liquidation means the liquidation of a limited liability partnership under Part X;
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Related to Voluntary liquidation

  • Net Liquidation Proceeds With respect to any Liquidated Mortgage Loan or any other disposition of related Mortgaged Property (including REO Property) the related Liquidation Proceeds net of Advances, Servicing Advances, Servicing Fees and any other accrued and unpaid servicing fees received and retained in connection with the liquidation of such Mortgage Loan or Mortgaged Property.

  • Liquidation Date means (a) in the case of an event giving rise to the dissolution of the Partnership of the type described in clauses (a) and (b) of the first sentence of Section 12.2, the date on which the applicable time period during which the holders of Outstanding Units have the right to elect to continue the business of the Partnership has expired without such an election being made, and (b) in the case of any other event giving rise to the dissolution of the Partnership, the date on which such event occurs.

  • Deemed Liquidation Event means: (i) a merger or consolidation in which the Corporation is a constituent party or a subsidiary of the Corporation is a constituent party and the Corporation issues shares of its capital stock pursuant to such merger or consolidation, except any such merger or consolidation involving the Corporation or a subsidiary in which the shares of capital stock of the Corporation outstanding immediately prior to such merger or consolidation continue to represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the capital stock of the surviving or resulting corporation or if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following such merger or consolidation, the parent corporation of such surviving or resulting corporation; or (ii) the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by the Corporation or any subsidiary of the Corporation of all or substantially all the assets of the Corporation and its subsidiaries taken as a whole, or the sale or disposition (whether by merger or otherwise) of one or more subsidiaries of the Corporation if substantially all of the assets of the Corporation and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of the Corporation.

  • Initial Liquidation Preference means one thousand dollars ($1,000.00) per share of Convertible Preferred Stock.

  • Majority in Liquidation Amount means, with respect to the Trust Securities, except as provided in the terms of the Capital Securities or by the Trust Indenture Act, Holder(s) of outstanding Trust Securities voting together as a single class or, as the context may require, Holders of outstanding Capital Securities or Holders of outstanding Common Securities voting separately as a class, who are the record owners of more than 50% of the aggregate liquidation amount (including the stated amount that would be paid on redemption, liquidation or otherwise, plus accrued and unpaid Distributions to the date upon which the voting percentages are determined) of all outstanding Securities of the relevant class.

  • Liquidation means the distributions of the Trust Account to the Public Stockholders in connection with the redemption of the Common Stock held by the Public Stockholders pursuant to the terms of the Company’s Amended and Restated Certificate of Incorporation, as amended, if the Company fails to consummate a Business Combination with the time period provided therein.

  • Series A Liquidation Preference means a liquidation preference for each Series A Preferred Unit initially equal to $25.00 per unit, which liquidation preference shall be subject to increase by the per Series A Preferred Unit amount of any accumulated and unpaid Series A Distributions (whether or not such distributions shall have been declared).

  • Liquidation Event With respect to any Mortgage Loan, any of the following events: (i) such Mortgage Loan is paid in full; (ii) a Final Recovery Determination is made as to such Mortgage Loan; or (iii) such Mortgage Loan is removed from REMIC I by reason of its being purchased, sold or replaced pursuant to or as contemplated by Section 2.03, Section 3.16(a) or Section 9.01. With respect to any REO Property, either of the following events: (i) a Final Recovery Determination is made as to such REO Property; or (ii) such REO Property is removed from REMIC I by reason of its being purchased pursuant to Section 9.01.