Common use of LIQUIDATING DISTRIBUTIONS; PRIORITY Clause in Contracts

LIQUIDATING DISTRIBUTIONS; PRIORITY. Subject to Section 18-804 of the Delaware Act, the proceeds of liquidation shall be applied in the following order of priority: (a) First, to pay the costs and expenses of dissolution and liquidation; to pay or provide for the satisfaction of the Company’s debts and other liabilities, including obligations to creditors in accordance with the Delaware Act; and to establish any reserves which the liquidator may deem necessary or advisable for any contingent or unmatured liability of the Company, including the payment of the Management Fee and the Incentive Fee; (b) Second, to the satisfaction of the prior rights of any outstanding Preferred Units, if issued; and (c) Thereafter, among the Common Unitholders equally on a per Unit basis.

LIQUIDATING DISTRIBUTIONS; PRIORITY. Subject to Section 18-804 of the Delaware Act, the proceeds of liquidation shall be applied in the following order of priority: (a) First, to pay the costs and expenses of dissolution and liquidation; to pay or provide for the satisfaction of the Company’s debts and other liabilities, including obligations to creditors in accordance with the Delaware Act; and to establish any reserves which the liquidator may deem necessary or advisable for any contingent or unmatured liability of the Company, including the payment of the Management Fee and the Incentive Fee; (b) Second, to the satisfaction of the prior rights of any outstanding Preferred Units, if issued; and (c) Thereafter, among the Common Unitholders equally on a per Common Unit basis.

LIQUIDATING DISTRIBUTIONS; PRIORITY. Subject to Section 18-804 of the Delaware ActAct (or any successor), the proceeds of liquidation shall be applied in the following order of priority: (a) First, to pay the costs and expenses of dissolution and liquidation; to pay or provide for the satisfaction of the Company’s debts and other liabilities, including obligations to creditors in accordance with the Delaware Act; and to establish any reserves which the liquidator may deem necessary or advisable for any contingent or unmatured liability of the Company, including the payment of the Management Fee and the Incentive Distribution and Servicing Fee; (b) Second, to the satisfaction of the prior rights of any outstanding Preferred Units, if issued; and (c) Thereafter, among the Common Unitholders equally on a per Common Unit basis.

LIQUIDATING DISTRIBUTIONS; PRIORITY. Subject to Section 18-804 of the Delaware ActAct (or any successor), the proceeds of liquidation shall be applied in the following order of priority: (a) First, to pay the costs and expenses of dissolution and liquidation; to pay or provide for the satisfaction of the Company’s debts and other liabilities, including obligations to creditors in accordance with the Delaware Act; and to establish any reserves which the liquidator may deem necessary or advisable for any contingent or unmatured liability of the Company, including the payment of the Management Fee and the Incentive Fee; (b) Second, to the satisfaction of the prior rights of any outstanding Preferred Units, if issued; and (c) Thereafter, among the Common Unitholders equally on a per Common Unit basis.

LIQUIDATING DISTRIBUTIONS; PRIORITY. Subject to Section 18-804 of the Delaware Act, the proceeds of liquidation shall be applied in the following order of priority: (a) First, to creditors of the Company, including Members who are creditors, to the extent otherwise permitted by law, in satisfaction of the liabilities of the Company (whether by payment or the making of reasonable provision for payment thereof), and to pay the costs and expenses of dissolution and liquidation; to pay or provide for the satisfaction of the Company’s debts and other liabilities, including obligations to creditors in accordance with the Delaware Actwinding up; and to establish any reserves which the liquidator may deem necessary or advisable for any contingent or unmatured liability of the Company, including the payment of the Management Fee and the Incentive Fee; (b) Second, to the satisfaction of the prior rights of any outstanding Preferred Units, if issued; and (c) Thereafter, among the Common Unitholders equally on a per Common Unit basis.

LIQUIDATING DISTRIBUTIONS; PRIORITY. Subject to Section 18-804 of the Delaware Act, the proceeds of liquidation shall be applied in the following order of priority: (ai) First, to pay the costs and expenses of dissolution and liquidation; to pay or provide for the satisfaction of the Company’s debts and other liabilities, including obligations to creditors in accordance with the Delaware Act; and to establish any reserves which the liquidator may deem necessary or advisable for any contingent or unmatured liability of the Company, including the payment of the Management Fee fees pursuant to the Investment Advisory Agreement and the Incentive Feereimbursement of expenses and other fees pursuant to the Administration Agreement; (bii) Second, to the satisfaction of the prior rights of any outstanding Preferred Units, if issued; and (ciii) Thereafter, among the Common Unitholders equally on a per Common Unit basis.