Common use of Allocation and Distribution of Liquidation Proceeds Clause in Contracts

Allocation and Distribution of Liquidation Proceeds. Regardless of any other provision in this agreement, if there is a distribution in liquidation of this LLC, or when any member's interest is liquidated, all items of income and loss

Allocation and Distribution of Liquidation Proceeds. Regardless of any other provision in this agreement, if there is a distribution in liquidation of this LLC, or when any member's interest is liquidated, all items of income and lossloss shall be allocated to the members' capital accounts, and all appropriate credits and deductions shall then be made to