Common use of Liquidation Procedures Clause in Contracts

Liquidation Procedures. Upon termination of the Company pursuant to Article 5, the affairs of the Company shall be wound up and the Company shall be dissolved. As part of the winding up of the Company, a proper accounting shall be made of the net profit or net loss of the Company from the date of the last previous accounting to the date of termination.

Appears in 6 contracts

Samples: Preferred Membership Unit Purchase Agreement (FVA Ventures, Inc.), Preferred Membership Unit Purchase Agreement (FVA Ventures, Inc.), Operating Agreement (Inland Real Estate Corp)

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Liquidation Procedures. Upon termination of the Company pursuant to Article 54, the affairs of the Company shall be wound up and the Company shall be dissolved. As part of the winding up of the Company, a proper accounting shall be made of the net profit or net loss of the Company from the date of the last previous accounting to the date of termination.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Inland Retail Real Estate Trust Inc)

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