Distributions Upon Dissolution and Termination. Upon the dissolution and termination of the Company, the assets remaining after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, shall be distributed to the Members in accordance with the number of Units held by each Member. If assets are to be distributed in kind, the Members’ Capital Accounts shall be appropriately adjusted, in accordance with Section 3.2, before any such distribution to reflect any profits and losses which would have been allocated if the property distributed in kind had been sold for its fair market value (net of liabilities) by the Company prior to dissolution.
Distributions Upon Dissolution and Termination. Upon the dissolution and termination of the Company, the assets remaining after satisfaction (whether by payment or by establishment of reserves therefor) of creditors shall be distributed to the Class A Members in accordance with the number of Units held by each.
Distributions Upon Dissolution and Termination. (a) After all liabilities and obligations of the Company, including all expenses of liquidation, shall have been paid or provided for (whether by such reserve as the Persons winding up the affairs of the Company shall deem appropriate or otherwise), and all items of gain, loss, deduction, and credit shall have been allocated in accordance with Article 6, any proceeds from the liquidation of the Company shall be distributed to those Members with positive Capital Account balances (in proportion to such Capital Account balances) within the period as may be required pursuant to Regulation Section 1.704-1(b)(2)(ii)(b)(2) or any successor provision, subject to the following sentence. Any Designated Investment, and the proceeds thereof, shall be distributed only to the Member holding the Special Interest relating thereto.
Distributions Upon Dissolution and Termination. Upon dissolution and termination of the Partnership, the final distribution of the Partnership’s assets shall be made pursuant to the provisions of Section 17.2.
Distributions Upon Dissolution and Termination. Upon dissolution and termination of the Company, the final distribution of the Company’s assets shall be made pursuant to the provisions of Section 17.2.
Distributions Upon Dissolution and Termination. After all liabilities and obligations of the Partnership, including all expenses of liquidation, shall have been paid or provided for (whether by such reserve as the Liquidator shall deem appropriate or otherwise), and all items of gain, loss, deduction and credit shall have been allocated in accordance with Article 4, and after any distributions of Net Cash Flow and Net Sale or Refinancing Proceeds pursuant to Sections 5.1 and 5.2, any proceeds from the liquidation of the Partnership shall be distributed to the Partners with positive Capital Account balances in proportion to such Capital Account balances within the period as may be required pursuant to Treasury Regulation Section 1.704-1(b)(2)(ii)(1)(1). Any Partner, other than an Equity Charter Municipality, with a deficit in its Capital Account following the complete distribution of the liquidation proceeds will be required to restore the amount of such deficit to the Partnership within the period as may be required pursuant to Treasury Regulation Section 1.704-1(b)(2)(ii)(1)(1), which amount will be paid first to creditors and the remaining balance, if any, will be distributed to the Partners in proportion to the Partners' Capital Account balances.
Distributions Upon Dissolution and Termination. Following the payment of all debts and liabilities of the Partnership and all expenses of liquidation, and subject to the right of the Liquidator to set up such cash reserves as it may deem reasonably necessary, all gains, profits, losses, and deductions shall be allocated pursuant to Section 4 of this Agreement, and then the assets of the Partnership shall be distributed in accordance with the Partners' respective Capital Accounts within the period specified in Treasury Regulation Section 1.704-1(b)(2)(ii)(b)(2).
