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 30 contracts
Samples: Operating Agreement, Sample LLC Operating Agreement, LLC Sample 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 24 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company 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, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Final Distributions. Upon the winding up of the LLC, the assets must be distributed as follows: 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: Limited Liability Company Operating Agreement (Videolocity International Inc)
