Distribution of Assets on Dissolution. Upon the winding up of the Company, the Company’s assets shall be distributed:
(a) to creditors, including Members who are creditors to the extent required by law, in satisfaction of Company liabilities; and
(b) to Members in accordance with Section 4.4. Such Distributions shall be in cash or property (which shall be distributed proportionately) or partly in both, as determined in good faith by the Manager.
Distribution of Assets on Dissolution. Upon the winding up of the Company, the assets of the Company shall be distributed:
(a) to creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of the Company's liabilities;
(b) to Members in accordance with positive Capital Account balances taking into account all Capital Account adjustments for the Company's taxable year in which the liquidation occurs. Liquidation proceeds shall be paid within 60 days of the end of the Company's taxable year or, if later, within 90 days after the date of liquidation. Such distributions shall be in cash or property (which need not be distributed proportionately) or partly in both, as determined by Approval of the Members.
Distribution of Assets on Dissolution. Upon the winding up of the Company, the Managing Member shall take full account of the assets and liabilities of the Company, shall liquidate the assets (unless the Managing Member determines that a distribution of any of the Company's Property in-kind would be more advantageous to the Member than the sale thereof) as promptly as is consistent with obtaining the fair value thereof, and shall apply and distribute the proceeds therefrom in the following order:
(a) first, to the payment of the debts and liabilities of the Company to creditors, including the Member, if it is a creditor, to the extent permitted by law, in satisfaction of such debts and liabilities, and to the payment of necessary expenses of liquidation;
(b) second, to the setting up of any reserves which the Managing Member may deem necessary or appropriate for any anticipated obligations or contingencies of the Company arising out of or in connection with the operation or business of the Company. Such reserves may be paid over by the Managing Member to an escrow agent or trustee selected by the Managing Member to be disbursed by such escrow agent or trustee in payment of any of the aforementioned obligations or contingencies and, if any balance remains at the expiration of such period as the Managing Member shall deem advisable, shall be distributed by such escrow agent or trustee in the manner hereinafter provided;
(c) then, to the Member. Liquidation proceeds shall be paid within 60 days of the end of the Company's taxable year in which the liquidation occurs. Such distributions shall be in cash or Property (which need not be distributed proportionately) or partly in both, as determined by the Managing Member. If at the time of liquidation the Managing Member shall determine that an immediate sale of some or all of the Company's Property would cause undue loss to the Member, the Managing Member may, in order to avoid such loss, defer liquidation.
Distribution of Assets on Dissolution. Upon the winding up of the Company, the Manager shall liquidate the Company Property if necessary or desirable, and shall cause the Company property to be distributed as follows:
11.3.1 to creditors, including the Member if it is a creditor, to the extent permitted by law, in satisfaction of the Company’s liabilities;
11.3.2 to the Member with a distribution be in cash, and for Property that is other than cash, or a combination of cash and some other form of Property as defined in this Agreement, as determined by the Manager.
Distribution of Assets on Dissolution. Upon the winding up of the Company, the Property of the Company shall be distributed as provided in the Act and among the Members in accordance with their respective Percentage Interests in the Company.
Distribution of Assets on Dissolution. Upon the winding up of the Company, Company Property shall be distributed in the following order:
(a) to creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of Company liabilities;
(b) to Members in accordance with positive Capital Account balances taking into account all allocations, contributions, distributions, and Capital Account adjustments for the Company's Fiscal Year in which the liquidation occurs. Liquidation proceeds shall be paid within 60 days of the end of the Company's Fiscal Year or, if later, within 90 days after the date of liquidation. Such distributions shall be in cash or property (which need not be distributed proportionately) or partly in both, as determined by a Majority of the Managers.
Distribution of Assets on Dissolution. Upon dissolution and winding up of the Company for any reason, its assets shall be applied to pay or satisfy:
11.2.1. first, the liabilities to creditors other than Members, in the order of priority as provided by law;
11.2.2. second, the liabilities to Members in their capacities as creditors, in the order of priority as provided by law; and
11.2.3. third, the expenses and cost of winding up. Company assets remaining after the above application shall be allocated and distributed to the Members as provided in accordance with their final capital account balances after allocation of all profits and losses including profits and losses accrued or incurred during winding up. Except as otherwise expressly provided herein, the dissolution of the Company shall proceed as provided in the Act. Except as provided by law, upon dissolution, each Member shall look solely to the assets of the Company for the return of its capital contribution. If the Company property remaining after the payment or discharge of the debts and liabilities of the Company is insufficient to return the capital contribution of each Member, such Member shall have no recourse against any other Member.
Distribution of Assets on Dissolution. Winding Up and Certificate of Dissolution............................................................ 21 5.
Distribution of Assets on Dissolution. 16 12.4 WINDING UP AND FILING ARTICLES OF DISSOLUTION...............17
Distribution of Assets on Dissolution. Upon the winding up of the Company, the Company's Property shall be distributed: first, to creditors, including the Member if then a creditor, to the extent permitted by law, in satisfaction of the Company's indebtedness and other liabilities; and second, to the Member. Liquidation proceeds shall be paid within 180 days of the end of the Company's taxable year or, if later, within 180 days after the date of liquidation.
