Common use of Distributions in Liquidation Clause in Contracts

Distributions in Liquidation. (a) Upon the dissolution and winding–up of the Company, the proceeds of sale and other assets of the Company distributable to the Members under Section 11.02(c)(iii) shall be distributed, not later than the latest time specified for such distributions pursuant to Treasury Regulation Section 1.704‑1(b)(2)(ii)(b)(2) to the Members in proportion to and in accordance with their respective Percentage Interests.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Strategic Hotels & Resorts, Inc), Limited Liability Company Agreement (Strategic Hotels & Resorts, Inc), Limited Liability Company Agreement (Strategic Hotels & Resorts, Inc)

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Distributions in Liquidation. (a) Upon the dissolution and winding-up of the Company, the proceeds of the sale of the Property and other assets of the Company distributable to the Members under Section 11.02(c)(iii11.2(c)(iii) shall be distributed, not later than the latest time specified for such distributions pursuant to Treasury Regulation Section 1.704‑1(b)(2)(ii)(b)(21.704-1(b)(2)(ii)(b)(2) to the Members as provided in proportion to and in accordance with their respective Percentage InterestsSection 6.4 above as if such distributions are additional Net Capital Proceeds.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Behringer Harvard Opportunity REIT II, Inc.), Limited Liability Company Agreement (Behringer Harvard Opportunity REIT II, Inc.), Limited Liability Company Agreement (Behringer Harvard Opportunity REIT II, Inc.)

Distributions in Liquidation. (a) Upon the dissolution and winding-up of the Company, the proceeds of sale and other assets of the Company distributable to the Members under Section 11.02(c)(iii11.2(c)(iii) shall be distributed, not later than the latest time specified for such distributions pursuant to Treasury Regulation Section 1.704‑1(b)(2)(ii)(b)(21.704-1(b)(2)(ii)(b)(2) to the Members as provided in proportion to and in accordance with their respective Percentage InterestsSection 6.4 above.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Behringer Harvard Opportunity REIT II, Inc.)

Distributions in Liquidation. (a) Upon the dissolution and winding-up of the Company, the proceeds of sale and other assets of the Company distributable to the Members under Section 11.02(c)(iii) Property shall be distributed, distributed not later than the latest time specified for such distributions pursuant to Treasury Regulation Regulations Section 1.704‑1(b)(2)(ii)(b)(21.704-1(b)(i)(b)(2) to the Members in proportion to accordance with and in accordance with their respective Percentage Intereststhe order and priority set forth in Section 5.1.

Appears in 1 contract

Samples: Limited Liability Company Agreement (DC Industrial Liquidating Trust)

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Distributions in Liquidation. (a) Upon the dissolution and winding–up of the Company, the proceeds of sale and other assets of the Company distributable to the Members under Section 11.02(c)(iii) shall be distributed, not later than the latest time specified for such distributions pursuant to Treasury Regulation Section 1.704‑1(b)(2)(ii)(b)(21.704-1(b)(2)(ii)(b)(2) to the Members in proportion to and in accordance with their respective Percentage Interestspositive Capital Account balances (after adjustment to reflect the allocations pursuant to this Article VI including Section 6.04(b)).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Strategic Hotels & Resorts, Inc)

Distributions in Liquidation. (a) Upon the dissolution and winding-up of the Company, the proceeds of sale and other assets of the Company distributable to the Members under Section 11.02(c)(iii11.2(c)(iii) shall be distributed, not later than the latest time specified for such distributions pursuant to Treasury Regulation Section 1.704‑1(b)(2)(ii)(b)(21.704-1(b)(2)(ii)(b)(2) to the Members in proportion to and in accordance with their respective Percentage Interestspositive Capital Account balances (after adjustment to reflect the allocations pursuant to this Article VI).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Behringer Harvard Opportunity REIT II, Inc.)

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