Common use of Liquidation and Winding Up Upon Dissolution Clause in Contracts

Liquidation and Winding Up Upon Dissolution. If the Company is dissolved, the Company shall be wound up and liquidated in accordance with the requirements of law and the following provisions: (a) The right to wind up the Company’s affairs and to supervise its liquidation shall be exercised jointly by all Members (the “Liquidators”). (b) Upon dissolution, the Liquidators shall ensure that an account is taken as soon as practicable of all property, assets and liabilities of the Company. (c) Each Member shall pay to the Company all amounts owed by it to the Company. (d) The assets and property of the Company or the proceeds of any sale thereof, together with contributions received pursuant to Section 10.2(c) hereof, shall be applied by the Liquidators in accordance with Section 10.3 hereof.

Liquidation and Winding Up Upon Dissolution. If the Tithe Company is dissolved, the Company shall be wound up and liquidated in accordance with the requirements of law and the following provisions: (a) The right to wind up the Company’s affairs and to supervise its liquidation shall be exercised jointly by all Members (the “Liquidators”). (b) Upon dissolution, the Liquidators shall ensure that an account is taken as soon as practicable of all property, assets and liabilities of the Company. (c) Each Member shall pay to the Company all amounts owed by it to the Company. (d) The assets and property of the Company or the proceeds of any sale thereof, together with contributions any amounts received pursuant to Section 10.2(c) hereof, shall be applied by the the. Liquidators in accordance with Section 10.3 hereof.

Liquidation and Winding Up Upon Dissolution. If the Company is dissolved, the Company shall be wound up and liquidated in accordance with the requirements of law and the following provisions: (a) The right to wind up the Company’s affairs and to supervise its liquidation shall be exercised jointly by all Members (the “Liquidators-Liquidators”). (b) Upon dissolution, the Liquidators shall ensure insure that an account is taken as soon as practicable of all property, assets and liabilities of the Company. (c) Each Member shall pay to the Company all amounts owed by it to the Company. (d) The assets and property of the Company or the proceeds of any sale thereof, thereof together with contributions payments received pursuant to Section 10.2(c) hereof13.2(c), shall be applied by the Liquidators in accordance with Section 10.3 hereof133.