In the event example sentences

In the event of two plates coming together they may either collide and crumble, or one may slide under the other.Thus, the liability of the members will arise only in the event of its winding up.In the event of shares not being fully called-up till the completion of allotment, the directors have the authority to ask for the remaining amount on shares as and when they decide about the same.On the other hand, the factor assumes the entire credit risk under non-recourse factoring i.e., full amount of invoice is paid to the client in the event of the debt becoming bad.In the event of refusal of making the payment, the law requires the creditor to obtain a certificate from the Notary to make it a conclusive evidence of the happening.A company may reserve a portion of its uncalled capital to be called only in the event of winding up of the company.Preference shareholders have a preferential right of repayment over equity shareholders in the event of liquidation of a company; Preference capital does not create any sort of charge against the assets of a company.By signing the letter, the exporter undertakes to indemnify the bank in the event of non-receipt of payment from the importer along with accrued interest.In the case of the companies limited by guarantee, the liability of its members is limited to the extent of the guarantee given by them in the event of the company being wound up.In the event of all forfeited share not being reissued, the credit amount on forfeited shares' account relating to shares yet to be reissued is carried forward and the remaining balance on the account only is credited to capital reserve account.In this case, the liability of its members is limited to the amount they undertake to contribute in the event of the company being wound up.As it stands last in the list of claims, it provides a cushion for creditors, in the event of winding up of a company.