Common use of Distributions of Proceeds of Liquidation Clause in Contracts

Distributions of Proceeds of Liquidation. For purposes of this Section 13.5, “proceeds of liquidation” shall equal cash available for distribution, net of debts secured by liens on the Property, provided that neither the Company nor the Members shall be personally liable on, or they shall be released from, such debts. The proceeds of liquidation shall be applied in the following order of priority: (a) First. To the payment of: (i) debts and liabilities of the Company, except Member Loans, and (ii) expenses of liquidation.

Distributions of Proceeds of Liquidation. For purposes of this Section 13.5, “proceeds of liquidation” shall equal cash available for distribution, net of debts secured by liens on the PropertyCompany’s debts, provided that neither the Company nor the Members shall be personally liable on, or they shall be released from, such debts. The proceeds of liquidation shall be applied in the following order of priority: (a) First. To the payment of: (i) debts and liabilities of the Company, except Member Loans, and (ii) expenses of liquidation.

Distributions of Proceeds of Liquidation. For purposes of this Section 13.513.4, “proceeds of liquidation” shall equal cash available for distributionliquidation, net of debts liens secured by liens on the Property, provided that neither the Company nor any of the Members shall be personally liable on, or they shall be released from, from such debts. The proceeds of liquidation shall be applied in the following order of priority: (a) First. To the payment of: (i) debts and liabilities of the Company, except Member Loans, and (ii) expenses of liquidation.

Distributions of Proceeds of Liquidation. For purposes of this Section 13.5, “proceeds of liquidation” shall equal cash available for distributionliquidation, net of debts liens secured by liens on the PropertyPortfolio, provided that neither the Company nor either of the Members shall be personally liable on, or they shall be released from, from such debts. The proceeds of liquidation shall be applied in the following order of priority: (a) First. To the payment of: (i) debts and liabilities of the Company, except Member Loans, and (ii) expenses of liquidation.

Distributions of Proceeds of Liquidation. For purposes of this Section 13.514.4, “proceeds of liquidation” shall equal cash available for distributionliquidation, net of debts liens secured by liens on the Property, provided that neither Property or the Company nor the Members shall be personally liable on, or they shall be released from, such debtsCompany’s assets. The proceeds of liquidation shall be applied in the following order of priority: (a) First. To the payment of: (i) debts and liabilities of the Company, except Member Loans, and (ii) expenses of liquidation.

Distributions of Proceeds of Liquidation. For purposes of this Section 13.5, “"proceeds of liquidation” " shall equal cash available for distributionliquidation, net of debts liens secured by liens on the Property, provided that neither the Company nor either of the Members shall be personally liable on, or they shall be released from, from such debts. The proceeds of liquidation shall be applied in the following order of priority: (a) First. To the payment of: (i) debts and liabilities of the Company, except Member Loans, and (ii) expenses of liquidation.

Distributions of Proceeds of Liquidation. For purposes of this Section 13.5, “proceeds of liquidation” shall equal cash available for distributionliquidation, net of debts liens secured by liens on the Property, provided that neither the Company nor either of the Members shall be personally liable on, or they shall be released from, such debts. The proceeds of liquidation shall be applied in the following order of priority: (a) First. To the payment of: (i) debts and liabilities of the Company, except Member Loans, and (ii) expenses of liquidation.