Liquidation of Company Assets. Upon dissolution of the Company, the Manager or, in the absence of a Manager, a liquidator appointed by a majority of the Class B Units, shall liquidate remaining Company Assets, apply and distribute the proceeds derived from the liquidation of the remaining Company Assets as contemplated by this Agreement, and cause the cancellation of the Company’s Certificate of Formation.
Appears in 5 contracts
Samples: Operating Agreement (Cardone Equal Opportunity Fund 2, LLC), Operating Agreement (Cardone Equal Opportunity Fund 2, LLC), Operating Agreement
Liquidation of Company Assets. Upon dissolution of the Company, the Manager or, in the absence of a Manager, a liquidator appointed by a majority Required Interest of the Class B Units, shall liquidate remaining Company Assets, apply and distribute the proceeds derived from the liquidation of the remaining Company Assets as contemplated by this Agreement, and cause the cancellation of the Company’s Certificate Articles of FormationOrganization.
Appears in 3 contracts
Samples: Operating Agreement (ADPI Fund I, LLC), Operating Agreement (ADPI Fund I, LLC), Operating Agreement (ADPI Fund I, LLC)
Liquidation of Company Assets. Upon dissolution of the Company, the Manager or, in the absence of a Manager, a liquidator appointed by a majority Required Interest of the Class B Units, shall liquidate remaining Company Assets, apply and distribute the proceeds derived from the liquidation of the remaining Company Assets as contemplated by this Agreement, and cause the cancellation of the Company’s Certificate Articles of FormationOrganization.
Appears in 3 contracts
Samples: Operating Agreement (Central Park Fund 1, LLC), Operating Agreement (Central Park Fund I, LLC), Operating Agreement (Aurora Fund I, LLC)
Liquidation of Company Assets. Upon dissolution of the Company, the Manager or, in the absence of a Manager, a liquidator appointed by a majority of the Class B UnitsRequired Interest, shall liquidate remaining Company Assets, apply and distribute the proceeds derived from the liquidation of the remaining Company Assets as contemplated by this Agreement, and cause the cancellation of the Company’s Certificate Articles of FormationOrganization.
Appears in 1 contract
Samples: Operating Agreement (Strata Capital Real Estate Opportunity Fund I LLC)
