Liquidation Event Distributions. Managing Partner shall notify the other Partners of any Liquidation Event not later than two (2) Business Days following the date on which Managing Partner has knowledge of such event. All Net Liquidation Proceeds shall be distributed among the Partners, on the later to occur of (i) two (2) Business Days following any Liquidation Event or (ii) the Business Day immediately following disbursement of such proceeds from any Lender Account, if applicable, in accordance with Section 5.1, subject to Section 5.3.
Liquidation Event Distributions. On the first Business Day after the ------------------------------- Company receives any Liquidation Proceeds, the Company shall cause the distribution of the Net Liquidation Proceeds After Debt Service to make the following payments:
(1) All amounts described in paragraph 5(a)-(d) hereof for all Distribution Dates occurring on or prior to such Business Day that have not previously been paid, in the priority set forth in such clause;
(2) An amount equal to the sum of all Daily Preferred Yield Amounts for each day occurring since the last Distribution Date on or prior to such Business Day;
(3) In redemption of the Class B Equity Interests at their par value; and
(4) To the Other Shareholders in accordance with the number of Class A Shares owned by each of the Other Shareholders.
Liquidation Event Distributions. After satisfaction or discharge of all the debts, liabilities and obligations of the Company (including, without limitation, all expenses incurred in the Liquidation Event and setting aside any reserves needed for contingent or deferred liabilities all as determined by the Board of Directors in accordance with Section 12), the remaining proceeds of a Liquidation Event available for distribution to the Members shall be distributed amongst the Members in the following manner and priority:
4.1.2.1 First, to the Members holding Preferred Interests in proportion to their respective Percentage Interests until each Member’s Unpaid Dividend, as of such date of distribution, is zero.
4.1.2.2 Then, to the Members holding Preferred Interests in proportion to their respective Percentage Interests, until each Member’s Unreturned Capital is zero.
4.1.2.3 Then, to the Members holding Common Interests in proportion to their respective Percentage Interests as of the time of such distribution.
Liquidation Event Distributions. After satisfaction or discharge of all the debts, liabilities and obligations of the Company (including, without limitation, all expenses incurred in the Liquidation Event and setting aside any reserves needed for contingent or deferred liabilities all as determined by the Board of Directors in accordance with Section 6.12), the remaining proceeds of a Liquidation Event available for distribution to the Members shall be distributed amongst the Members in the following manner and priority:
4.1.2.1 First, to the Members holding Preferred Interests and Non-Voting Preferred Interests in proportion to their respective Percentage Interests in Preferred Interest and Non-Voting Preferred Interest until each Member’s Unpaid Dividend, as of such date of distribution, is zero.
4.1.2.2 Then, to the Members holding Preferred Interests and Non-Voting Preferred Interests in proportion to their respective Percentage Interests in Preferred Interest and Non-Voting Preferred Interest, until each Member’s Unreturned Capital is zero.
4.1.2.3 Then, to the Members holding Common Interests in proportion to their respective Percentage Interests in Common Interest as of the time of such distribution.
Liquidation Event Distributions. 47 10.4 No Other Withdrawals............................................................................................. 49 10.5 Distribution Limitations............................................................................................. 49 ARTICLE XI TRANSFER OF MEMBERSHIP 49 11.1 Transfer................................................................................................................. 49 11.2 Transfer Void......................................................................................................... 49 11.3 Effect of Assignment................................................................................................. 49 11.4 Legends................................................................................................................. 49 11.5 Publicly Traded Partnership Limitations........................................................................... 50 11.6 Effective Date......................................................................................................... 50 11.7 Rights of Refusal..................................................................................................... 50 11.8 Right of Co-Sale..................................................................................................... 53 11.9 Non-Exercise of Rights............................................................................................. 54 11.10 Limitations on Transfer Restriction................................................................................. 54 GDSVF&H\
Liquidation Event Distributions. Upon any Liquidation Event, funds and assets of the LLC determined by the Board of Managers to be available for distribution shall be distributed to the Members as follows, in the following order of priority: GDSVF&H\
Liquidation Event Distributions. After satisfaction or discharge of all the debts, liabilities and obligations of the Company (including, without limitation, all expenses incurred in the Liquidation Event and setting aside any reserves needed for contingent or deferred liabilities all as determined by the Board of Directors in accordance with Section 12), the remaining proceeds of a Liquidation Event available for distribution to the Members shall be distributed amongst the Members in the following manner and priority:
4.1.2.1 First, to the Members holding Preferred Interests and Non-Voting Preferred Interests in proportion to their respective Percentage Interests and Non-Voting Preferred Interests until each Member’s Unpaid Dividend, as of such date of distribution, is zero.
4.1.2.2 Then, to the Members holding Preferred Interests and Non-Voting Preferred Interests in proportion to their respective Percentage Interests, until each Member’s Unreturned Capital is zero.
4.1.2.3 Then, to the Members holding Common Interests in proportion to their respective Percentage Interests as of the time of such distribution.
