Common use of Non-Cash Assets Clause in Contracts

Non-Cash Assets. If in the opinion of the Executive Committee a complete liquidation of the assets of the LLC would involve substantial losses or would be impractical under the circumstances, the CEO shall liquidate that portion of the assets of the LLC necessary to pay the obligations of the LLC described in Subsection 10.4.1(a) through (e) above the remaining assets will be distributed to the Members proportionately to their right to receive the assets of the LLC on an equitable basis reflecting the net fair market value of the assets so distributed, which net fair market value shall be determined by the Members.

Non-Cash Assets. If in the opinion of the Executive Committee a complete liquidation of the assets of the LLC would involve substantial losses or would be impractical under the circumstances, the CEO President shall liquidate that portion of the assets of the LLC necessary to pay the obligations of the LLC described in Subsection 10.4.1(a) through (e) above above, and the remaining assets will be distributed to the Members proportionately to their right to receive the assets of the LLC on an equitable basis reflecting the net fair market value of the assets so distributed, which net fair market value shall be determined by the Members.

Non-Cash Assets. If in the opinion of the Executive Committee a complete liquidation of the assets of the LLC would involve substantial losses or would be impractical under the circumstances, the CEO CHAIRMAN shall liquidate that portion of the assets of the LLC necessary to pay the obligations of the LLC described in Subsection 10.4.1(a) through (e) above the remaining assets will be distributed to the Members proportionately to their right to receive the assets of the LLC on an equitable basis reflecting the net fair market value of the assets so distributed, which net fair market value shall be determined by the Members.