Common use of Dissolution Winding Up Clause in Contracts

Dissolution Winding Up. Termination) shall be deemed to be compromised by the consent of all Members and the Additional Member to whom any money or property is distributed shall not be required to return any such money or property to the Company or any creditor of the Company. However, if any court of competent jurisdiction or regulatory body with jurisdiction over the matter holds that, notwithstanding the provisions of this Agreement, any Additional Member is obligated to return to the Company any amounts previously distributed to such Additional Member, such obligation shall be the obligation of such Additional Member and not of the Managing Member.