Distribution of Assets upon Winding Up. Upon the winding up of the Company, the assets shall be distributed as follows: (a) to creditors, including the Member should it be a creditor, in satisfaction of liabilities of the Company other than liabilities for which reasonable provision for payment has been made and liabilities for distributions to the Member; and (b) the remainder, if any, to the Member.
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Samples: Limited Liability Company Agreement (Redbox Automated Retail, LLC), Company Agreement (Redbox Automated Retail, LLC), Limited Liability Company Agreement (Redbox Automated Retail, LLC)
Distribution of Assets upon Winding Up. Upon the winding up of the Company, the assets shall be distributed as follows: (a) to creditors, including the Member should it the Member be a creditor, in satisfaction of liabilities of the Company other than liabilities for which reasonable provision for payment has been made and liabilities for distributions to the Member; and (b) the remainder, if any, to the MemberMember (or if the Member should transfer any of its Units or additional Units should be issued by the Company, then to the Members in accordance with their pro rata ownership of the Units).
Appears in 1 contract
Samples: Limited Liability Company Agreement (Redbox Automated Retail, LLC)
Distribution of Assets upon Winding Up. Upon the winding up of the Company, the assets shall be distributed as follows: (a) to creditors, including the Member Members should it be a creditor, in satisfaction of liabilities of the Company other than liabilities for which reasonable provision for payment has been made and liabilities for distributions to the MemberMembers; and (b) the remainder, if any, to the MemberMembers in proportion to the number of Class A Interests held by them.
Appears in 1 contract
Distribution of Assets upon Winding Up. Upon the winding up of the Company, the assets shall be distributed as follows: (a) to creditors, including the Member should it the Member be a creditor, in satisfaction of liabilities of the Company other than liabilities for which reasonable provision for payment has been made and liabilities for distributions to the Member; and (b) the remainder, if any, to the Member.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Armtec Countermeasures TNO Co.)
Distribution of Assets upon Winding Up. Upon the winding up of the Company, the assets shall be distributed as follows: (a) to creditors, including the Member, should the Member should it be a creditor, in satisfaction of liabilities of the Company other than liabilities for which reasonable provision for payment has been made and liabilities for distributions to the Member; and (b) the remainder, if any, to the Member.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Deltic Timber Corp)
