Common use of Distributions Upon Dissolution of the Company Clause in Contracts

Distributions Upon Dissolution of the Company. Upon dissolution of the Company, the Board shall take full account of the Company’s assets and liabilities, shall liquidate the assets as promptly as is consistent with obtaining fair value therefor, and shall apply and distribute the proceeds in the following order of priority: (i) First, to the payment and discharge of all of the Company’s debts, liabilities, and obligations, including the establishment of necessary reserves; and (ii) Second, to the holders of the Shares pro rata in proportion to the number of Shares held by each Shareholder.

Distributions Upon Dissolution of the Company. Upon dissolution of the Company, the Board shall take full account of the Company’s assets and liabilities, shall liquidate the assets as promptly as is consistent with obtaining fair value therefor, and shall apply and distribute the proceeds in the following order of priority: (i) First, to the payment and discharge of all of the Company’s debts, liabilities, and obligations, including the establishment of necessary reserves; and (ii) Second, to the holders of the Shares Units pro rata in proportion to the number of Shares Units held by each ShareholderUnitholder.

Distributions Upon Dissolution of the Company. Upon dissolution of the Company, the Board shall take full account of the Company’s assets and liabilities, shall liquidate the assets as promptly as is consistent with obtaining fair value therefor, and shall apply and distribute the proceeds in the following order of priority: (ia) Firstfirst, to the payment and discharge of all of the Company’s debts, liabilities, and obligations, including the establishment of necessary reserves; and (iib) Secondsecond, to the holders of the Shares pro rata in proportion to the number of Shares held by each Shareholder.

Distributions Upon Dissolution of the Company. Upon dissolution of the Company, the Board of Managers shall take full account of the Company’s assets and liabilities, shall liquidate the assets as promptly as is consistent with obtaining fair value therefor, and shall apply and distribute the proceeds in the following order of priority: (i) First, to the payment and discharge of all of the Company’s debts, liabilities, and obligations, including the establishment of necessary reserves; and (ii) Second, to the holders of the Shares Units pro rata in proportion to the number of Shares Units held by each ShareholderMember.