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Common use of Final Distributions Clause in Contracts

Final Distributions. Upon the winding up of the LLC, the assets must be distributed as follows: (a) to the LLC creditors; (b) to Members in satisfaction of liabilities for distributions; and (c) to Members first for the return of their contributions and secondly respecting their LLC interest, in the proportions in which the Members share in profits and losses.

Appears in 34 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

Final Distributions. Upon the winding up ending of the LLC, the assets must be distributed as follows: : (a) to the LLC creditors; and (b) to Members in satisfaction of liabilities for distributions; and (c) to Members the Member first for the return of their contributions and secondly respecting their LLC interest, in the proportions in which the Members share Member shares in profits and losses.

Appears in 22 contracts

Samples: Operating Agreement, Limited Liability Company Operating Agreement, Operating Agreement

Final Distributions. Upon the winding up ending of the LLC, the assets must be distributed as follows: : (a) to the LLC creditors; (b) to Members in satisfaction of liabilities for distributions; and (c) to Members first for the return of their contributions and secondly respecting their LLC interest, in the proportions in which the Members share in profits and losses.

Appears in 13 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

Final Distributions. Upon the winding up ending of the LLC, the assets must be distributed as follows: (a) to the LLC creditors; and (b) to Members in satisfaction of liabilities for distributions; and (c) to Members the Member first for the return of their contributions and secondly respecting their LLC interest, in the proportions in which the Members share Member shares in profits and losses.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Final Distributions. Upon the winding up of the LLC, the assets must be distributed as follows: (a) to the LLC creditors; (b) to Members in satisfaction of liabilities for distributions; and (c) to Members first for the return of their contributions and secondly respecting their LLC interest, in the proportions in which the Members share in profits and losses.

Appears in 1 contract

Samples: Operating Agreement (Videolocity International Inc)