Distribution Upon Termination. Upon a dissolution and termination of the Company, the Manager or, if the Member in its sole discretion determines, any other Person selected by the Member to act as a liquidating trustee (the Manager, in such capacity, or such other Person being referred to herein as the “Liquidating Trustee”) shall collect and marshal the Company’s assets, sell such assets as such Liquidating Trustee shall deem appropriate, provide for the payment of all of the legally enforceable obligations of the Company that are not then due and distribute the proceeds and all remaining assets of the Company in the following order of priority:
Appears in 9 contracts
Samples: Limited Liability Company Agreement (Fisher Broadcasting - Seattle Radio, L.L.C.), Limited Liability Company Agreement (Fisher Broadcasting - Seattle Radio, L.L.C.), Limited Liability Company Agreement (Fisher Broadcasting - Seattle Radio, L.L.C.)
Distribution Upon Termination. Upon a dissolution and termination of the Company, the Manager Management Committee or, if the Member in its sole discretion determines, any other Person selected by the Member to act as a liquidating trustee (the ManagerManagement Committee, in such capacity, or such other Person being referred to herein as the “Liquidating Trustee”) shall collect and marshal the Company’s assets, sell such assets as such Liquidating Trustee shall deem appropriate, provide for the payment of all of the legally enforceable obligations of the Company that are not then due and distribute the proceeds and all remaining assets of the Company in the following order of priority:
Appears in 1 contract
Samples: Limited Liability Company Agreement (Fisher Broadcasting - Seattle Radio, L.L.C.)
