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; and (b) Thereafter, among the Common Unitholders equally on a per Unit basis.
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Samples: Limited Liability Company Agreement (Senior Credit Investments, LLC), Limited Liability Company Agreement (Senior Credit Investments, LLC)
