Distribution upon Liquidation of the Company. (a) Subject to the Delaware Act, after all liabilities of the Company have been satisfied or duly provided for, the remaining assets of the Company shall be distributed to the Members in accordance with their respective positive Capital Account balances. The Company shall terminate when all of the assets of the Company shall have been distributed to the Members in accordance with this Section 7.04. and the Certificate of Limited Company of the Company shall have been cancelled in the manner required by the Delaware Act.
Appears in 5 contracts
Samples: Limited Liability Company Operating Agreement (DLP Positive Note Fund LLC), Limited Liability Company Operating Agreement (DLP Positive Note Fund LLC), Limited Liability Company Operating Agreement (DLP Positive Note Fund LLC)
