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.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (T-Mobile Puerto Rico Holdings LLC), Limited Liability Company Agreement (Suncom Wireless Property Co, L.L.C.), Limited Liability Company Agreement (Suncom Wireless Property Co, L.L.C.)
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’ Member’s Capital Accounts Account 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.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Suncom Wireless Property Co, L.L.C.), Limited Liability Company Agreement (Suncom Wireless Property Co, L.L.C.)
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 positive balances in their respective Capital Accounts, subject to the provisions of Units held by each MemberSection 8.2 below. If assets are to be distributed in kind, the Members’ ' Capital Accounts shall be appropriately adjusted, in accordance with Section 3.24.2, 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.
Appears in 1 contract
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 Member in accordance with the number of Units held by each Member. If assets are to be distributed in kind, the Members’ Member’s Capital Accounts Account 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.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Metropcs Networks California, LLC)
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 Memberpositive balances in their respective Capital Accounts. 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.
Appears in 1 contract
Samples: Operating Agreement (Ist, Corp)
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 Member in accordance with the number of Units held by each Member. If assets are to be distributed in kind, the Members’ Member’s Capital Accounts Account 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.. ARTICLE IV
Appears in 1 contract
Samples: Limited Liability Company Agreement (Triton PCS Holdings Co LLC)
