Common use of Distributions on Liquidation Clause in Contracts

Distributions on Liquidation. Upon liquidation, the business of the Company shall be wound up, the Manager shall take full account of the Company assets and liabilities, and all assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. If any assets are not sold, gain or loss shall be allocated to the Members in accordance with Article IX as if such assets had been sold at their fair market value at the time of the liquidation. If any assets are distributed to a Member, rather than sold, the distribution shall be treated as a distribution equal to the fair market value of the assets at the time of the liquidation. The assets of the Company shall be applied and distributed in the following order of priority:

Distributions on Liquidation. Upon liquidation, the business liquidation of the Company Company, its business shall be wound up, the Manager Board (or other Person designated by all of the Members) shall take full account of the Company assets and liabilities, and all assets (tangible and intangible) shall be liquidated as promptly as is consistent with obtaining the fair value thereof. If any assets are not sold, gain or loss shall be allocated to the Members in accordance with Article IX 7 as if such assets had been sold at their fair market value at the time of the liquidation. If any assets are distributed to a Member, rather than sold, the distribution Distribution shall be treated as a distribution Distribution equal to the fair market value of the assets at the time of the liquidation. The assets of the Company shall be applied and distributed in the following order of priority:

Distributions on Liquidation. Upon liquidation, the business liquidation of the Company Company, its business shall be wound up, the Manager Board (or other Person designated by the Member) shall take full account of the Company Company’s assets and liabilities, and all assets (tangible and intangible) shall be liquidated as promptly as is consistent with obtaining the fair value thereof. If any assets are not sold, gain or loss shall be allocated to the Members Member in accordance with Article IX 6 as if such assets had been sold at their fair market value at the time of the liquidation. If any assets are distributed to a the Member, rather than sold, the distribution Distribution shall be treated as a distribution equal to the fair market value of the assets at the time of the liquidation. The assets of the Company shall be applied and distributed in the following order of priority:

Distributions on Liquidation. Upon liquidationdissolution of the Company, the business of the Company shall be wound up, the Manager Board shall take full account of the Company assets and liabilities, and all assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. If any assets are not sold, gain or loss shall be allocated to the Members in accordance with Article IX Section 9, as if such assets had been sold at their fair market value at the time of the liquidation. If any assets are distributed to a Member, rather than sold, the distribution shall be treated as a distribution equal to the fair market value of the assets at the time of the liquidation. The Upon liquidation, the assets of the Company shall be applied and distributed in the following order of priority: