This form is signed by and on behalf of the Unit Operator covering lands in which a Unit was formed and established by the Unit Agreement. Pursuant to the specified Article/Section of the Agreement, the purposes for which the Unit was established are no longer in effect and the parties to the Agreement (being the original Working Interest Owners in Tracts included in the Unit, or their successors) have elected to terminate the Agreement.
A Guam Certificate of Termination of Unit refers to a legal document that signifies the dissolution or termination of a unit within the territory of Guam, a United States island territory located in the Western Pacific Ocean. This certificate serves as evidence that a specific unit or organization has ceased to exist or operate in Guam. When it comes to the different types of Guam Certificates of Termination of Unit, they may vary based on the nature of the unit or organization being terminated. Some common examples include: 1. Business Unit: This type of certificate is issued when a business entity operating in Guam decides to dissolve and wind up its operations permanently. It can be obtained by corporations, partnerships, limited liability companies (LCS), or other forms of business organizations. 2. Nonprofit Unit: Nonprofit organizations such as foundations, charities, or associations that have been operating in Guam and wish to terminate their activities would require a specific Certificate of Termination of Unit for nonprofits. 3. Government Unit: When a specific government unit or agency in Guam is no longer required or becomes obsolete, a Certificate of Termination is issued to formally dissolve and terminate its operations and responsibilities. 4. Housing Unit: In the context of residential or commercial housing units, a Certificate of Termination may be necessary when a housing development is being discontinued, converted, or destroyed. The Guam Certificate of Termination of Unit includes important information such as the name of the unit being terminated, its registered address, the date of termination, and the reasons for dissolution or closure. This document is typically filed with the appropriate government department or agency responsible for business registrations or unit oversight in Guam. Obtaining a Guam Certificate of Termination of Unit is a crucial step in formally ending the existence of a unit or organization within the jurisdiction. It ensures that all legal obligations, including taxes, debts, licenses, or permits, are properly settled before concluding operations, providing transparency to stakeholders and protecting the interests of both the unit and Guam as a whole.
