Distribution of Proceeds. Upon the winding up of the Company, the Board of Managers shall distribute the proceeds and undisposed property as follows: (i) to creditors, including the Member if the Member is a creditor (to the extent and in the order of priority provided by law) in satisfaction of liabilities of the Company, whether by payment or the making of reasonable provisions for payment thereof; and (ii) thereafter, to the Member.
Appears in 9 contracts
Samples: Limited Liability Company Operating Agreement (Physician Sales & Service, Inc.), Limited Liability Company Operating Agreement (Physician Sales & Service, Inc.), Limited Liability Company Operating Agreement (Physician Sales & Service, Inc.)
Distribution of Proceeds. Upon the winding up of the Company, the Board of Managers Member shall distribute the proceeds and undisposed property as follows:
(i) to creditors, including the Member if the Member is a creditor (to the extent and in the order of priority provided by law) in satisfaction of liabilities of the Company, whether by payment or the making of reasonable provisions for payment thereof; and
(ii) thereafter, to the Member.
Appears in 9 contracts
Samples: Operating Agreement (Eagle Holdco 3 LLC), Operating Agreement (2420 Lakemont Avenue MM, LLC), Limited Liability Company Operating Agreement (Ameripath Indiana LLC)
Distribution of Proceeds. Upon the winding up of the Company, the Board of Managers shall distribute the proceeds and undisposed property as follows:
(i) to creditors, including the Member if the Member is a creditor (to the extent and in the order of priority provided by law) in satisfaction of liabilities of the Company, whether by payment or the making of reasonable provisions for payment thereof; and
(ii) thereafter, to the Member.
Appears in 3 contracts
Samples: Operating Agreement (Worldwide Auto Parts, Inc.), Limited Liability Company Operating Agreement (Tandy Holdings, Inc.), Operating Agreement (Tandy Holdings, Inc.)
Distribution of Proceeds. Upon the winding up of the Company, the Board of Managers Governors shall distribute the proceeds and undisposed property as follows:
(i) to creditors, including the Member if the Member is a creditor (to the extent and in the order of priority provided by law) in satisfaction of liabilities of the Company, whether by payment or the making of reasonable provisions for payment thereof; and
(ii) thereafter, to the Member.
Appears in 1 contract
Samples: Member Control Agreement (Bon-Ton Stores of Lancaster, Inc.)
Distribution of Proceeds. Upon the winding up of the Company, Company the Board of Managers shall distribute the proceeds and undisposed property as follows:
(i) : to creditors, including the Member Members if the Member is Members are a creditor (to the extent and in the order of priority provided by law) in satisfaction of liabilities of the Company, whether by payment or the making of reasonable provisions for payment thereof; and
(ii) and thereafter, to the MemberMembers.
Appears in 1 contract
Distribution of Proceeds. Upon the winding up of the Company, the Board of Managers shall will distribute the proceeds and undisposed property as follows:
(ia) to creditors, including the Member if the Member is a creditor (to the extent and in the order of priority provided by law) in satisfaction of liabilities of the Company, whether by payment or the making of reasonable provisions for payment thereof; and
(iib) thereafter, to the Member.
Appears in 1 contract
Samples: Operating Agreement (Bon-Ton Stores of Lancaster, Inc.)
