Common use of Distributions in Kind on Liquidation Clause in Contracts

Distributions in Kind on Liquidation. Upon the liquidation of the Company, to the extent the Company's assets are not sold or otherwise disposed of, such assets (if any) may be distributed in kind to the Members as follows: the value of such assets shall be appraised (by an appraiser selected by the Governors) to determine the Profits and Losses that would have resulted if such assets had been sold; the Capital Account of each Member shall be credited or debited with such Member's respective share of the hypothetical gains or losses resulting from such assumed sales in the same manner as such Capital Account would have been credited or debited on the actual disposition of such assets; and such assets shall be distributed in accordance with the Members' Capital Account balances as thus adjusted, each Member taking an undivided interest in such assets subject to a pro rata share of the Company's liabilities.

Distributions in Kind on Liquidation. Upon the liquidation of the Company, to the extent the Company's assets are not sold or otherwise disposed of, such assets (if any) may may, at the unanimous direction of the Members, be distributed in kind to the Members as follows: the value of such assets shall be appraised (by an appraiser selected by the GovernorsMembers) to determine the Profits and Losses that would have resulted if such assets had been sold; the Capital Account of each Member shall be debited or credited or debited with such Member's respective share of the hypothetical gains or losses resulting from such assumed sales in the same manner as such Capital Account would have been debited or credited or debited on the actual disposition of such assets; and such assets shall be distributed in accordance with the Members' Capital Account balances as thus adjusted, each Member taking an undivided interest in such assets subject to a pro rata share of the Company's liabilities.

Distributions in Kind on Liquidation. Upon the liquidation of the Company, to the extent the Company's assets are not sold or otherwise disposed of, such assets (if any) may be distributed in kind to the Members as follows: the value of such assets shall be appraised (by an appraiser selected by the GovernorsManagers) to determine the Profits and Losses that would have resulted if such assets had been sold; the Capital Account of each Member shall be credited or debited with such Member's respective share of the hypothetical gains or losses resulting from such assumed sales in the same manner as such Capital Account would have been credited or debited on the actual disposition of such assets; and such assets shall be distributed in accordance with the Members' Capital Account balances as thus adjusted, each Member taking an undivided interest in such assets subject to a pro rata share of the Company's liabilities.