Common use of Distribution of Assets on Dissolution Clause in Contracts

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 assets of the Company Property shall be distributed: (a) 3.1. to creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of the Company's liabilitiesCompany Liabilities; (b) 3.2. 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 Property (which need not be distributed proportionately) or partly in both, as determined by Approval of the MembersManaging Member.

Distribution of Assets on Dissolution. Upon the winding up of the Company, the assets of the Company Property shall be distributed: (a) to To creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of the Company's Company liabilities;, and (b) to To Members in accordance with positive Capital Account capital account balances taking into account all Capital Account adjustments for the Company's ’s taxable year in which the liquidation occurs. Liquidation proceeds shall be paid within 60 one hundred twenty (120) days of the end of the Company's ’s taxable year or, if later, within 90 one hundred twenty (120) days after the date of liquidation. Such distributions shall be in cash or property 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 assets of the Company Property shall be distributed: (a) to creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of the Company's liabilitiesCompany 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 Property (which need not be distributed proportionately) or partly in both, as determined by Approval the Managers; and (c) notwithstanding the foregoing, the Company Property may not be liquidated without the consent of 100% of the Membersholders of the Asset-Backed Securities then outstanding.

Distribution of Assets on Dissolution. Upon the winding up of the Company, the assets of the Company Property shall be distributed: (a) to To creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of the Company's liabilitiesCompany Liabilities; (b) to 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 sixty (60) days of the end of the Company's taxable year or, if later, within 90 ninety (90) days after the date of liquidation. Such distributions Distributions shall be in cash or property Property (which need not be distributed proportionately) or partly in both, as determined by Approval of the MembersManaging Member(s).

Distribution of Assets on Dissolution. Upon the winding up of the Company, the assets of the Company Property shall be distributed: (a1) to creditors, including Members who are creditors, to the extent and in the order permitted by law, in satisfaction of the Company's ’s liabilities;; and (b2) to Members in accordance with positive Capital Account balances taking into account all Capital Account adjustments for the Company's ’s taxable year in which the liquidation occurs. Liquidation proceeds shall be paid within 60 days of the end of the Company's ’s taxable year or, if later, within 90 days after the date of liquidation. Such distributions shall be in cash or property Property (which need not be distributed proportionately) or partly in both, as determined by Approval the Board of the MembersGovernors.

Distribution of Assets on Dissolution. Upon the winding up of the Company, the assets of the Company Property shall be distributed: 3.1 to the Noteholders (aso long as such Noteholders are not Affiliates of the Company) to creditorsand other creditors of the Company, including the Members who are creditors, (if it is a creditor) to the extent permitted by law, in satisfaction of Company Liabilities and the Company's liabilities;balance, if any. (b) 3.2 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 occursMember. 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 Property (which need not be distributed proportionately) or partly in both, as determined by Approval of the Members.or

Distribution of Assets on Dissolution. Upon the winding up of the Company, the assets of the Company shall Property will be distributed: (a) to 4.1. To creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of the Company's liabilitiesCompany Liabilities; (b) to 4.2. To Members in accordance with positive Capital Account balances taking into account all Capital Account adjustments for the Company's ’s taxable year in which the liquidation occurs. Liquidation proceeds shall will be paid within 60 days of the end of the Company's ’s taxable year or, if later, within 90 days after the date of liquidation. Such These distributions shall will be in cash or property Property (which need not be distributed proportionately) or partly in both, as determined by Approval of the MembersManaging Member.

Distribution of Assets on Dissolution. Upon the winding up of the Company, the assets of the Company Property shall be distributed: (a) to creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of the Company's liabilitiesCompany 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 Property (which need not be distributed proportionately) or partly in both, as determined by Approval of the MembersManaging Member.

Distribution of Assets on Dissolution. Upon the winding up of the Company, the assets of the Company Property shall be distributed: (a) to 12.3.1 To creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of the Company's liabilitiesCompany Liabilities; (b) to 12.3.2 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 sixty (60) days of the end of the Company's taxable year or, if later, within 90 ninety (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 MembersManager.

Distribution of Assets on Dissolution. Upon the winding up of the Company, the assets of the Company property shall be distributed: (a) to creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of liabilities of the Company's liabilities; (b) to the Members who are admitted following the date of this Agreement in accordance with positive the amount of their Initial Capital Account balances taking into account all Capital Account adjustments for Contributions less any distributions paid to such Members; (c) to Members and Assignees in proportion to the Company's taxable year in which the liquidation occursUnits owned. 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 Distributions shall be in cash or property (which need not be distributed proportionately) or partly in both, as determined by Approval all of the Members.

Distribution of Assets on Dissolution. Upon the winding up of the Company, the assets of the Company Property shall be distributed: (a) a. to creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of the Company's liabilitiesCompany Liabilities; (b) b. to Members and Assignees in accordance with positive Capital Account balances taking into account all Capital Account adjustments for the Company's ’s taxable year in which the liquidation occurs. Liquidation proceeds shall be paid within 60 days of the end of the Company's ’s taxable year or, if later, within 90 days after the date of liquidation. Such distributions shall be in cash or property Property (which need not be distributed proportionately) or partly in both, as determined by Approval of the MembersManagement Committee.

Distribution of Assets on Dissolution. Upon the winding up of the Company, the assets of the Company Property shall be distributed: (a) to 3.1 To creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of the Company's liabilitiesCompany Liabilities; (b) to 3.2 To Members in accordance with positive Capital Account balances Article IX Section 2(b) taking into account all Capital Account adjustments for the Company's taxable year in which the liquidation occurs, until such accounts are at zero. 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 Property (which need not be distributed proportionately) or partly in both, as determined by Approval of the MembersManaging Member.

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 ’s liabilities; (b) to Members in accordance with positive Capital Account balances taking into account all Capital Account adjustments for the Company's ’s taxable year in which the liquidation occurs. Liquidation proceeds shall be paid within 60 days of the end of the Company's ’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 assets of the Company Property shall be distributed: (a) 3.1 to creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of the Company's liabilitiesCompany Liabilities; (b) 3.2 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 Property (which need not be distributed proportionately) or partly in both, as determined by Approval of the MembersManager.