Common use of Distribution of Assets on Dissolution Clause in Contracts

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.

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.

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.