Authority to Wind Up. The Manager has all necessary power required to marshal the assets of the Company, to pay its creditors, to distribute assets and otherwise wind up the business and affairs of the Company. The Manager has the power to continue to conduct the business and affairs of the Company during the period of liquidation of the Company consistent, in the Manager’s judgment, with the orderly winding up of the Company.
Appears in 3 contracts
Samples: Operating Agreement (Project Clean, Inc.), Operating Agreement (Project Clean, Inc.), Limited Liability Company Agreement (Secured Principal LLC)
Authority to Wind Up. The Manager has Managers shall have all necessary power and authority required to marshal the assets of the Company, to pay its the Company’s creditors, to establish reasonable reserves for contingent liabilities of the Company, to distribute assets and otherwise wind up the business and affairs of the Company. The Manager has In particular, the power Managers shall have the authority to continue to conduct the business and affairs of the Company during the period of liquidation of the Company insofar as such continued operation remains consistent, in the Manager’s judgmentjudgment of the Managers, with the orderly winding up of the Company.
Appears in 1 contract
Authority to Wind Up. The Manager has shall have all necessary power and authority required to marshal xxxxxxxx the assets of the Company, to pay its creditors, to distribute assets and otherwise wind up the business and affairs of the Company. The In particular, the Manager has shall have the power authority to continue to conduct the business and affairs of the Company during the period of liquidation of the Company insofar as such continued operation remains consistent, in the judgment of the Manager’s judgment, with the orderly winding up of the Company.
Appears in 1 contract
