Common use of Authority to Wind Up Clause in Contracts

Authority to Wind Up. The Management Committee will have all -------------------- necessary power and authority required to marshal the assets of the LLC, to pay its creditors, to distribute assets and otherwise wind up the business and affairs of the LLC, including without limitation the authority to continue to conduct the business and affairs of the LLC insofar as such continued operation remains consistent, in the judgment of the Management Committee, with the orderly winding up of the LLC.

Appears in 2 contracts

Samples: LLC Operating Agreement (Exelixis Inc), LLC Operating Agreement (Exelixis Inc)

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Authority to Wind Up. The Management Committee will shall have all -------------------- necessary power and authority required to marshal the assets of the LLCCompany, to pay its the Company’s creditors, to distribute assets and otherwise wind up the business and affairs of the LLCCompany. In particular, including without limitation the Management Committee shall have the authority to continue to conduct the business and affairs of the LLC Company insofar as such continued operation remains consistent, in the judgment of the Management Committee, with the orderly winding up of the LLCCompany.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Ignite Restaurant Group, Inc.)

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Authority to Wind Up. The Management Committee will have all necessary -------------------- necessary power and authority required to marshal the assets of the LLC, to pay its creditors, to distribute assets and otherwise wind up the business and affairs of the LLC. In particular, including without limitation the Management Committee will have the authority to continue to conduct the business and affairs of the LLC insofar as such continued operation remains consistent, in the judgment of the Management Committee, with the orderly winding up of the LLC.

Appears in 1 contract

Samples: Operating Agreement (Embarcadero Technologies Inc)

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