Liquidation Upon Dissolution and Winding Up. Upon the dissolution of the Company, the Member shall wind up the affairs of the Company. A full account of the assets and liabilities of the Company shall be taken. The assets shall be promptly liquidated and the proceeds thereof applied as required by the Act. Upon discharging all debts and liabilities, all remaining assets shall be distributed to the Member or the Member’s representative.
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Samples: Limited Liability Company Agreement (Wcof, LLC), Limited Liability Company Agreement (Wcof, LLC), Limited Liability Company Agreement (Wcof, LLC)
Liquidation Upon Dissolution and Winding Up. Upon the dissolution of the Company, the Member Managers shall wind up the affairs of the Company. A full account of the assets and liabilities of the Company shall be taken. The assets shall be promptly liquidated and the proceeds thereof applied as required by the Act. Upon discharging all debts and liabilities, all remaining assets shall be applied and distributed to in the Member or the Member’s representative.following order of priority:
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Samples: Operating Agreement
Liquidation Upon Dissolution and Winding Up. Upon the dissolution of the Company, the Member shall wind up the affairs of the Company. A full account of the assets and liabilities of the Company shall be taken. The assets shall be promptly liquidated and the proceeds thereof applied as required by the Act. Upon discharging all debts and liabilities, all remaining assets shall be distributed to the Member or the Member’s 's representative.
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Liquidation Upon Dissolution and Winding Up. Upon the dissolution of the Company, the Member Manager shall wind up the affairs of the Company. A full account of the assets and liabilities of the Company shall be taken. The assets shall be promptly liquidated and the proceeds thereof applied as required by the Act. Upon discharging all debts and liabilitiesIn the process of winding up the Company, all remaining assets shall be distributed the Manager may elect to the Member or the Member’s representativedistribute certain property in kind.
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Samples: Limited Liability Company Operating Agreement (Conversent Communications of New York, LLC)
Liquidation Upon Dissolution and Winding Up. Upon the dissolution of the Company, the Member shall wind up the affairs of the Company. A full account of the assets and liabilities of the Company shall be taken. The assets shall be promptly liquidated and the proceeds thereof applied as required by the Act. Upon discharging all debts and liabilities, . all remaining assets shall be distributed to the Member or the Member’s representative.
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