Common use of Distribution of Company Assets after the Payment of Liabilities and Establishment of Reserves Clause in Contracts

Distribution of Company Assets after the Payment of Liabilities and Establishment of Reserves. After paying liabilities and providing for reserves, the Manager or liquidator shall (1) satisfy any debts owed to the Members with the remaining net assets of the Company, if any, (2) distribute all previously allocated but undistributed Distributable Cash, if any, and finally (3) allocate and distribute any remaining assets to the Members, as set forth in Section 5.2(a)(ii).

Appears in 5 contracts

Samples: Operating Agreement (Cardone Equal Opportunity Fund 2, LLC), Operating Agreement (Cardone Equal Opportunity Fund 2, LLC), Operating Agreement

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Distribution of Company Assets after the Payment of Liabilities and Establishment of Reserves. After paying liabilities and providing for reserves, the Manager or liquidator shall (1) satisfy any debts owed to the Members with the remaining net assets of the Company, if any, (2) distribute all previously allocated but undistributed Distributable Cash, if any, and finally (3) allocate and then distribute any remaining assets to the Members, as set forth Members in Section 5.2(a)(ii)proportion to their Membership Interests.

Appears in 1 contract

Samples: Operating Agreement (ADPI Fund I, LLC)

Distribution of Company Assets after the Payment of Liabilities and Establishment of Reserves. After paying liabilities and providing for reserves, the Manager or liquidator shall (1) satisfy any debts owed to the Members with the remaining net assets of the Company, if any, (2) distribute all previously allocated but undistributed Distributable Cash, if any, and finally (3) allocate and then distribute any remaining assets to the Members, as set forth Members in Section 5.2(a)(ii).proportion to their Membership Interests. OPERATING AGREEMENT OF

Appears in 1 contract

Samples: Operating Agreement (ADPI Fund I, LLC)

Distribution of Company Assets after the Payment of Liabilities and Establishment of Reserves. After paying liabilities and providing for reserves, the Manager or liquidator shall (1) satisfy any debts owed to the Members with the remaining net assets of the Company, if any, (2) distribute all previously allocated but undistributed Distributable Cash, if any, and finally (3) allocate and then distribute any remaining assets to the Members, as set forth in Section 5.2(a)(ii)4.2.

Appears in 1 contract

Samples: Operating Agreement (Strata Capital Real Estate Opportunity Fund I LLC)

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Distribution of Company Assets after the Payment of Liabilities and Establishment of Reserves. After paying liabilities and providing for reserves, the Manager or liquidator shall (1) satisfy any debts owed to the Members with the remaining net assets of the Company, if any, (2) distribute all previously allocated but undistributed Distributable Cash, if any, and finally (3) allocate and then distribute any remaining assets to the Members, as set forth Members in accordance with Section 5.2(a)(ii)4.2.

Appears in 1 contract

Samples: Operating Agreement (Aurora Fund I, LLC)

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