Character of Liquidating Distributions. All payments made in liquidation of the Interest of a retiring Member (whether pursuant to Article X or Article XII hereof) shall be made in exchange for the interest of such Member in Property pursuant to Section 736(b)(1) of the Code, including the interest of such Member in Company goodwill.
Appears in 2 contracts
Samples: Agreement of Limited Liability Company (Ims Health Inc), Limited Liability Company Agreement (Ims Health Inc)
Character of Liquidating Distributions. All payments made in liquidation of the Interest of a retiring Member (whether pursuant to Article X or Article XII hereof) Member, other than payments made under Section 12.2, shall be made in exchange for the interest of such Member in Company Property pursuant to Section Code § 736(b)(1) of the Code), including the interest of such Member in Company goodwillgoodwill of the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (APT Sunshine State LLC), Limited Liability Company Agreement (Resource America Inc)
Character of Liquidating Distributions. All payments made in liquidation of the Interest of a retiring Member Partner (whether pursuant to Article X or Article XII hereofXII) shall be made in exchange for the interest of such Member Partner in Partnership Property pursuant to Section 736(b)(1) of the Code, including the interest of such Member Partner in Company Partnership goodwill.
Appears in 2 contracts
Samples: Agreement of Limited Partnership (Dun & Bradstreet Corp), Limited Partnership Agreement (Dun & Bradstreet Corp /De/)
Character of Liquidating Distributions. All payments made in liquidation of the Interest interest of a retiring Member (whether pursuant to Article X or Article XII hereof) shall be made in exchange for the interest of such Member Member's in Company Property pursuant to Section 736(b)(1) of the Code, including the interest of such Member in Company goodwill.
Appears in 1 contract
Samples: Operating Agreement
