Order of Distribution of Assets. In the event of dissolution as provided in Section 10.1 above, the cash of the Company shall be distributed as follows: (a) All of the Company’s debts and liabilities to persons other than Members and Managers shall be paid and discharged; (b) All of the Company’s debts and liabilities to Members and Managers shall be paid and discharged; (c) The balance of the cash of the Company shall be distributed to the Members and Managers in accordance with Section 5.5.
Appears in 6 contracts
Samples: Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX), Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX), Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX)
