Common use of Assets Reserved Clause in Contracts

Assets Reserved. If, upon a Dissolution Event, there are any assets that, in the judgment of the Managing Member, cannot be sold or distributed in kind without sacrificing a significant portion of the value thereof or where such sale or distribution is otherwise impractical at the time of the Dissolution Event, such assets may be retained by the Company, except upon a Dissolution Event described in Section 8.1(c) (Dissolution), if the Managing Member determines that the retention of such assets is in the best interests of the Additional Members. Upon the sale of such assets or a determination by the Managing Member that circumstances no longer require their retention, such assets (at their fair market value) or the proceeds of their sale shall be taken into account in computing Capital Accounts on winding up and amounts distributable pursuant to Section 8.2(b) (Distributions Upon Winding Up), and distributed in accordance with such value.