Capital Proceeds. Capital Proceeds remaining after the payment of any debts and liabilities of the Company due and payable at such time and the establishment of any Operating Reserves which the Manager determines, in his sole discretion necessary for reasonable ongoing business requirements, and necessary to provide for any contingent or unforeseen liabilities or obligations of the Company, shall be distributed in accordance with the following order of priority:
Appears in 5 contracts
Samples: Operating Agreement, Operating Agreement (Harrison Vickers & Waterman Inc), Operating Agreement (Attitude Drinks Inc.)