Character of Liquidating Distributions. All payments made in liquidation of the Interest of a retiring 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 Code § 736(b)(1), including the interest of such Member in goodwill 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, other than payments made under Section 12.2, Member (whether pursuant to Article X or Article XII hereof) shall be made in exchange for the interest of such Member in Company Property pursuant to Code § Section 736(b)(1)) of the Code, including the interest of such Member in goodwill of the CompanyCompany goodwill.
Appears in 2 contracts
Samples: Partnership Agreement (Ims Health Inc), Agreement (Ims Health Inc)
Character of Liquidating Distributions. All payments made in liquidation of the Interest interest of a retiring Member, other than payments made under Section 12.2, Member shall be made in exchange for the interest of such Member Member's in Company Property pursuant to Code § Section 736(b)(1)) of the Code, including the interest of such Member in goodwill of the CompanyCompany goodwill.
Appears in 1 contract
Samples: Operating Agreement
