Liquidation Event

Liquidation Event. (i) any liquidation, bankruptcy, reorganization, dissolution, or winding up of the Company; (ii) any consolidation or merger of the Company into or with any other entity or entities; (iii) any sale or transfer by the Company of all or substantially all of its assets; or (iv) any sale or issuance or series of sales and/or issuances of shares of the Company's Capital stock by the Company or any holders thereof which results in any person (with all persons that are party to an employment agreement... with the Company deemed to be one person for purposes of this definition) or group of affiliated persons (other than the owners of Common Stock or Series A Preferred Stock as of the date hereof) owning capital stock of the Company possessing the voting power (under ordinary circumstances) to elect a majority of the Company's Board of Directors. View More

Liquidation Event. Has the meaning attributed thereto in subsection 5(k)(ii) hereof.

Liquidation Event. Means any transaction in which a third party acquires substantially all of equity or assets of Licensee, whether by merger, reorganization, acquisition, sale or otherwise.

Liquidation Event. Means the first to occur of (i) a sale of all or substantially all of the assets of the Company resulting in net proceeds available for distribution to members of the Company upon liquidation of the Company of not less than $21,000,000, (ii) any dissolution or complete liquidation of the Company, (iii) any merger of the Company into another entity in which the Company is not the surviving entity; or (iv) an underwritten public offering of securities of the Company; provided, however, that in... the case of clauses (iii) and (iv) above, a Liquidation Event shall not be deemed to have occurred until such time as Colt Defense Holding LLC, shall have received in connection with such merger or underwritten public offering, as the case may be, cash and/or securities in the surviving entity or the Company, as the case may be, which are not subject to any contractual or other restriction on the transfer of such securities. View More

Liquidation Event. Means the occurrence of a "Liquidation Event" as defined in Maker's Certificate of Incorporation, as the same may be amended from time to time.

Liquidation Event. Shall mean, with respect to any Person, any of the following events: (i) the commencement by such Person of a voluntary case under the bankruptcy laws of the United States, as now or hereafter in effect, or the commencement of an involuntary case against such Person with respect to which the petition shall not be controverted within 15 days, or be dismissed within 60 days, after commencement thereof; (ii) the appointment of a custodian for, or the taking charge by a custodian of, all or... substantially all of the property of such Person; (iii) the commencement by such Person of any proceeding under any reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating to such Person; (iv) the commencement against such Person of any proceeding set forth in the preceding clause (iii), which is not controverted within 10 days thereof and dismissed within 60 days after the commencement thereof; (v) the adjudication of such Person insolvent or bankrupt, or the adoption by such Person of a plan of liquidation, (vi) the occurrence of any Change of Control with respect to such Person, or (vii) the filing of a certificate of dissolution in respect of the Person with the Secretary of State of the State of Nevada; in any of cases (i) through (vi) above, in a single transaction or series of related transactions. 2 View More

Liquidation Event. Shall mean: (i) any liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary; (ii) a consolidation or merger of the Corporation with or into any other corporation or corporations which results in the stockholders of the Corporation owning less than fifty percent (50%) of the outstanding capital stock of the surviving entity; (iii) a sale, lease or exchange of all or substantially all of the assets of the Corporation; (iv) the issuance and/or sale by the... Corporation in one or a series of related transactions of shares of Common Stock (or securities convertible or exchangeable into or exercisable for shares of Common Stock) constituting a majority of the shares of Common Stock outstanding immediately following such issuance (treating all securities convertible or exchangeable into or exercisable for shares of Common Stock as having been fully converted, exchanged and exercised, without regard to any exercise, conversion or exchange limitations therein); (v) any other form of acquisition or business combination where the Corporation is the target of such acquisition and where a change in control occurs such that the Person seeking to acquire the Corporation has the power to elect a majority of the Board as a result of the transaction; and (vi) any other liquidity events that the Requisite Holders and the Board mutually agree shall constitute a Liquidation Event; provided, however, that the issuance of (i) Series A Preferred Stock on the Initial Issue Date or as dividends on such Series A Preferred Stock, or (ii) Common Stock in conversion of the Series A Preferred Stock or the Warrants issued on the Initial Issue Date, shall not constitute a Liquidation Event. View More

Liquidation Event. Means where (i) the Company or any Company Subsidiary shall make a general assignment for the benefit of creditors or consent to the appointment of a receiver, liquidator, custodian, or similar official of all or substantially all of its properties, or any such official is placed in control of such properties, or the Company or any Company Subsidiary shall commence any action or proceeding or take advantage of or file under any federal or state insolvency statute, including, without limitation,... the United States Bankruptcy Code, seeking to have an order for relief entered with respect to it or seeking adjudication as a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, liquidation, dissolution, administration, a voluntary arrangement, or other relief with respect to it or its debts; or (ii) there shall be commenced against the Company or any Company Subsidiary any action or proceeding of the nature referred to in clause (i) above or seeking issuance of a warrant of attachment, execution, distraint, or similar process against all or any substantial part of its property, which results in the entry of an order for relief which remains undismissed, undischarged or unbonded for a period of sixty (60) days; or (iii) there is initiated the dissolution or other winding up of the Company or any material Company Subsidiary, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy proceedings; or (iv) there is initiated any assignment for the benefit of creditors or any marshalling of the material assets or material liabilities of the Company or any Company Subsidiary. View More

Liquidation Event. Means (i) any voluntary or involuntary liquidation, dissolution or winding-up of the Corporation, (ii) the consummation of a merger or consolidation in which the shareholders of the Corporation prior to such transaction own less than a majority of the voting securities of the entity surviving such transaction, or (iii) the sale, distribution or other disposition of all or substantially all of the Corporation's assets.

Liquidation Event. Means any voluntary or involuntary liquidation, dissolution or winding up of the Issuer.