Common use of Duties and Authority of Liquidator Clause in Contracts

Duties and Authority of Liquidator. The liquidator will make adequate provision for the discharge of all of the Company’s (or a Series’) debts, obligations, and liabilities. The liquidator may sell, encumber, or retain for distribution in kind, any of the Company’s (or a Series’) assets. Any gain or loss recognized on the sale of assets will be allocated to the Members’ Capital Accounts, in accordance with the provisions of Article 4. With respect to any asset the liquidator determines to retain for distribution in kind, the liquidator will allocate to the Members’ Capital Accounts the amount of gain or loss that would have been recognized, had the asset been sold at its fair market value.

Duties and Authority of Liquidator. The liquidator will make adequate provision for the discharge of all of the Company’s (or a Series’) Company"s debts, obligations, and liabilitiesliabilities (including liabilities to Members who are creditors). The liquidator may sell, encumber, or retain for distribution in kind, kind any of the Company’s (or a Series’) Company"s assets. Any gain or loss recognized on the sale of assets will be allocated to the Members’ " Capital Accounts, Accounts in accordance with the provisions of Article 4Section 4.1. With respect to any asset the liquidator determines to retain for distribution in kind, the liquidator will allocate to the Members’ " Capital Accounts the amount of gain or loss that would have been recognized, recognized had the asset been sold at its fair market value.

Duties and Authority of Liquidator. The liquidator will make adequate provision for the discharge of all of the Company’s (or a Series’) debts, obligations, and liabilitiesliabilities (including liabilities to Members who are creditors). The liquidator may sell, encumber, or retain for distribution in kind, kind any of the Company’s (or a Series’) assets. Any gain or loss recognized on the sale of assets will be allocated to the Members’ Capital Accounts, Accounts in accordance with the provisions of Article 4Section 4.1. With respect to any asset the liquidator determines to retain for distribution in kind, the liquidator will allocate to the Members’ Capital Accounts the amount of gain or loss that would have been recognized, recognized had the asset been sold at its fair market value.

Duties and Authority of Liquidator. The liquidator will make adequate provision for the discharge of all of the Company’s (or a Series’) 's debts, obligations, and liabilitiesliabilities (including liabilities to Members who are creditors). The liquidator may sell, encumber, or retain for distribution in kind, kind any of the Company’s (or a Series’) 's assets. Any gain or loss recognized on the sale of assets will be allocated to the Members’ ' Capital Accounts, Accounts in accordance with the provisions of Article 4Section 4.1. With respect to any asset the liquidator determines to retain for distribution in kind, the liquidator will allocate to the Members’ ' Capital Accounts the amount of gain or loss that would have been recognized, recognized had the asset been sold at its fair market value.