Common use of Distribution of Property Clause in Contracts

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section 11.02, the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member, corresponding as nearly as possible to such Member’s Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 14 contracts

Samples: Operating Agreement (Clear Secure, Inc.), Operating Agreement (Clear Secure, Inc.), Operating Agreement (Clear Secure, Inc.)

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Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company Liquidation to make a distribution of Property in-kind, subject to the priority set forth in Section 11.0212.02(b), the liquidating trustee shall have the right to compel each Member, treating each such Member in a substantially similar manner, to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member), corresponding as nearly as possible to the distributions such Member’s Percentage Interest), Member would receive under Section 12.02(b) with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 9 contracts

Samples: Limited Liability Company Agreement (Vacasa, Inc.), Limited Liability Company Agreement (Milan Laser Inc.), Limited Liability Company Agreement (Ensemble Health Partners, Inc.)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section 11.0212.02, the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member, corresponding as nearly as possible to such Member’s Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 9 contracts

Samples: Limited Liability Company Agreement (TWFG, Inc.), Limited Liability Company Agreement (TWFG, Inc.), Limited Liability Company Agreement (Weber Inc.)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section 11.02, the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member, corresponding as nearly as possible to such Member’s Relative Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 6 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Virtu Financial, Inc.), Limited Liability Company Agreement (Virtu Financial, Inc.)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company Liquidation to make a distribution of Property in-kind, subject to the priority set forth in Section 11.0211.02(b), the liquidating trustee shall have the right to compel each Member, treating each such Member in a substantially similar manner, to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member), corresponding as nearly as possible to the distributions such Member’s Percentage Interest), Member would receive under Section 11.02(b) with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 5 contracts

Samples: Limited Liability Company Agreement (Fluence Energy, Inc.), Limited Liability Company Agreement (Fluence Energy, Inc.), Limited Liability Company Agreement (Endeavor Group Holdings, Inc.)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section 11.02, the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-kind (with even if the percentage of the Property distributed to such Property, as Member differs from a percentage of the total liquidating distributions to such Member, corresponding as nearly as possible that Property which is equal to such Member’s Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 4 contracts

Samples: Transaction Agreement (Apollo Global Management LLC), Limited Liability Company Agreement (EP Energy Corp), Limited Liability Company Agreement (EP Energy Corp)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section 11.0210.02, the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member, corresponding as nearly as possible to such Member’s Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 4 contracts

Samples: Operating Agreement (Rocket Companies, Inc.), Operating Agreement (Rocket Companies, Inc.), Operating Agreement (Rocket Companies, Inc.)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section 11.0212.02(b), the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member, corresponding as nearly as possible to such Member’s Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Portillo's Inc.), Limited Liability Company Agreement (Definitive Healthcare Corp.), Limited Liability Company Agreement (Portillo's Inc.)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company Liquidation to make a distribution of Property in-kind, subject to the priority set forth in Section 11.0213.02(b), the liquidating trustee shall have the right to compel each Member, treating each such Member in a substantially similar manner, to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member, corresponding as nearly as possible to the distributions such Member’s Percentage Interest), Member would receive under Section 10.02(b) with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Endeavor Group Holdings, Inc.), Limited Liability Company Agreement (Endeavor Group Holdings, Inc.), Limited Liability Company Agreement (Endeavor Group Holdings, Inc.)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section 11.02, the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-kind (with even if the percentage of the Property distributed to such Property, as Member differs from a percentage of the total liquidating distributions that Property which is equal to such Member, corresponding as nearly as possible to such Member’s Percentage InterestSeries Sharing Percentages), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 3 contracts

Samples: Limited Liability Company Agreement (EP Energy Corp), Limited Liability Company Agreement (EP Energy Corp), Limited Liability Company Agreement (MBOW Four Star, L.L.C.)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section 11.02, the liquidating trustee shall have the right to compel each Economic Member to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Economic Member, corresponding as nearly as possible to such Economic Member’s Economic Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Bellring Brands, Inc.), Limited Liability Company Agreement (Bellring Brands, Inc.)

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Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section 11.02, the liquidating trustee shall have the right to compel each Nonvoting Member to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Nonvoting Member, corresponding as nearly as possible to such Nonvoting Member’s Nonvoting Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 2 contracts

Samples: Limited Liability Company Agreement (vTv Therapeutics Inc.), Limited Liability Company Agreement (vTv Therapeutics Inc.)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section 11.0212.02(b), the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member, corresponding as nearly as possible to such Member’s Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Signify Health, Inc.), Limited Liability Company Agreement (Signify Health, Inc.)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-property in kind, subject to the priority set forth in Section 11.0212.02, the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-asset in kind (with to the extent that the percentage of the asset distributed to such Property, as Member differs from a percentage of that asset which is equal to the total liquidating distributions to Participation Percentage of such Member, corresponding as nearly as possible to such Member’s Percentage Interest)'s Interests, with such distribution being based upon the amount of cash that would be distributed to such Members if such Property property were sold for an amount of cash equal to the fair market value of such Propertyproperty, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d).

Appears in 2 contracts

Samples: And (Time Warner Telecom LLC), Limited Liability Company Agreement (Time Warner Telecom LLC)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section 11.0212.02, the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member, corresponding as nearly as possible to such Member’s Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section ‎Section 5.03(d).

Appears in 1 contract

Samples: Limited Liability Company Agreement (BRP Group, Inc.)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company Partnership to make a distribution of Property in-kind, subject to the priority set forth in Section 11.02‎Section 12.02(b), the liquidating trustee shall have the right to compel each Member Partner to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such MemberPartner, corresponding as nearly as possible to such MemberPartner’s Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members Partners if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section ‎Section 5.03(d).

Appears in 1 contract

Samples: Limited Partnership Agreement (Galaxy Digital Holdings Ltd.)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company Liquidation to make a distribution of Property in-kind, subject to the priority set forth in Section 11.0212.02(b), the liquidating trustee shall have the right to compel each Member, treating each such Member in a substantially similar manner, to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member), corresponding as nearly as possible to the distributions such Member’s Percentage Interest), Member would receive under Section 12.02(b) with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section 5.03(d)trustee.

Appears in 1 contract

Samples: Limited Liability Company Agreement (TKO Group Holdings, Inc.)

Distribution of Property. In the event it becomes necessary in connection with the liquidation of the Company to make a distribution of Property in-kind, subject to the priority set forth in Section ‎Section 11.02, the liquidating trustee shall have the right to compel each Member to accept a distribution of any Property in-kind (with such Property, as a percentage of the total liquidating distributions to such Member, corresponding as nearly as possible to such Member’s Percentage Interest), with such distribution being based upon the amount of cash that would be distributed to such Members if such Property were sold for an amount of cash equal to the fair market value of such Property, as determined by the liquidating trustee in good faith, subject to the last sentence of Section ‎Section 5.03(d).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Arog Pharmaceuticals, Inc.)

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