Common use of Distribution on Winding Up Clause in Contracts

Distribution on Winding Up. In the event of the winding up of the Company for any reason, the proceeds of liquidation shall be applied by the end of the Calendar Year in which the liquidation occurs or, if later, within 90 days after the date of such liquidation, in the following rank and order:

Distribution on Winding Up. In the event of the winding up of the Company for any reason, the proceeds of liquidation shall be applied by the end of the Calendar Fiscal Year in which the liquidation occurs or, if later, within 90 days after the date of such liquidation, in the following rank and order:

Distribution on Winding Up. In the event of the winding up of the Company Partnership for any reason, the proceeds of liquidation shall be applied by the end of the Calendar Fiscal Year in which the liquidation occurs or, if later, within 90 ninety (90) days after the date of such liquidation, in the following rank and order:

Distribution on Winding Up. In the event of the winding up of the Company for any reason, the The proceeds of liquidation shall will be applied by the end of the Calendar Year taxable year in which the liquidation occurs or, if later, within 90 ninety (90) days after the date of such liquidation, in the following rank and order: (a) first, to the creditors of the Company, in the priority and to the extent provided by law; and (b) thereafter, to the Members in proportion to their Membership Interests. 28

Distribution on Winding Up. In the event of the winding up of the Company for any reason, the The proceeds of liquidation shall will be applied by the end of the Calendar Year taxable year in which the liquidation occurs or, if later, within 90 days after the date of such liquidation, in the following rank and order: (a) first, to the creditors of the Company, in the priority and to the extent provided by law; and (b) thereafter, to the Members in proportion to their Membership Interests.