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<br />longer needed by the ILJAOC. including equipment it <br />previously transferred to the ILJAOC, according to the terms <br />and conditions determined by the Board in its sole discretion <br />to be fair and equitable_ The ILJAOC Board may choose to <br />exempt a Member Agency from any of the listed conditions, <br />but may not impose any conditions other than those listed. <br /> <br />VII <br />TERMINATION AND DISPOSITION OF ASSETS <br /> <br />7.01 The ILJAOC shall continue to exist and exercise the powers herein <br />until this Agreement is terminated by a vote of two-thirds of the entire Board; <br />provided, however. that no termination shall be complete and final until the <br />ILJAOC has satisfactorily disposed of all financial obligations and claims, <br />distributed all assets. and peliormed all other functions deemed necessary by <br />the Board to conclude the affairs of the ILJAOC. <br /> <br />7.02 Termination shall occur upon: <br /> <br />a) The written consent of all Member Agencies; or <br />b) Upon the withdrawal from the ILJAOC of a sufficient number of the <br />Member Agencies that results in a lack of effectiveness as <br />determined by a two-thirds vote of the remaining Board Members; <br />and <br />c) Full satisfaction of all outstanding financial obligations of the <br />ILJAOC; and <br />d) All other contractual obligations of the ILJAOC have been <br />satisfied. <br /> <br />7.03 In the event of the termination of this Agreement, any funds <br />remaining following the discharge of all obligations shall be disposed of by <br />returning to each current Member Agency of the ILJAOC immediately prior to <br />the termination of this Agreement, a share of such funds proportionate to the <br /> <br />19 <br /> <br />25J-20 <br />