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 Pursuant to the specified Article/Section of the Agreement, the purposes for which the Unit was established are no longer in effect and the parties to the Agreement (being the original Working Interest Owners in Tracts included in the Unit, or their successors) have elected to terminate the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.
The North Carolina Certificate of Termination of Unit is a legal document that signifies the dissolution or termination of a unit in the state of North Carolina. This document is filed with the appropriate authorities to formally dissolve a specific unit, such as a limited liability company (LLC), partnership, or corporation. One type of North Carolina Certificate of Termination of Unit is specifically designed for LCS. This certificate is known as the "North Carolina Certificate of Termination of Limited Liability Company Unit" and is used when the members of an LLC have decided to dissolve and terminate its existence. The certificate contains essential information, including the name of the LLC, the date of termination, and the signatures of the LLC's members or authorized representatives. Another type of North Carolina Certificate of Termination of Unit applies to partnerships. This certificate, known as the "North Carolina Certificate of Termination of Partnership Unit," is utilized when partners wish to dissolve and terminate a partnership. The document includes crucial details such as the partnership's name, the termination date, and the signatures of the partners or their authorized representatives. Lastly, corporations in North Carolina can file a "North Carolina Certificate of Termination of Corporate Unit" in the event of dissolution. This certificate is used to officially terminate the existence of a corporation. Along with fundamental information like the corporate name and termination date, it requires the signatures of the corporation's shareholders or authorized representatives. To properly file the North Carolina Certificate of Termination of Unit, individuals or entities must adhere to the guidelines set forth by the state's laws and regulations. It is advisable to consult legal professionals or business advisors for accurate guidance and to ensure all necessary information and signatures are properly included. By obtaining the North Carolina Certificate of Termination of Unit, businesses can formally conclude their operations, fulfill legal obligations, and initiate the process of winding up affairs, distributing assets, and resolving any remaining liabilities.
