Common use of Order of Distribution Clause in Contracts

Order of Distribution. Upon completion of all desired sales of Company Property, and after payment of all selling costs and expenses, the proceeds of such sales, and any Company Property that is to be distributed in kind, shall be distributed to the following groups in the following order of priority: 1. to the extent permitted by law, to satisfy Company liabilities to creditors, including Members who are creditors (other than for past due Company distributions), and the expenses of liquidation, of the Company, whether by payment or establishment of reserves; 2. to satisfy Company obligations to Members to pay past due Company distributions; and 3. to the sole Member, or, if there is more than one Member, to the Members in accordance with the positive balances in their respective capital accounts.

Order of Distribution. Upon completion of all desired sales of Company Property, and after payment of all selling costs and expenses, the proceeds of such sales, and any Company Property that is to be distributed in kind, shall be distributed to the following groups in the following order of priority: 1. to the extent permitted by law, to satisfy Company liabilities to creditors, including Members who are creditors (other than for past due Company distributions), and the expenses of liquidation, of the Company, whether by payment or establishment of reserves; 2. to satisfy Company obligations to Members Member(s) to pay past due Company distributions; and; 3. to the sole MemberMember(s), or, if there is more than one Member, to the Members in accordance with the positive balances in its or their respective capital accounts, if any; and 4. to the Member(s) in accordance with its or their respective Interests.

Order of Distribution. Upon completion of all desired sales of Company Property, and after payment of all selling costs and expenses, the proceeds of such sales, and any Company Property that is to be distributed in kind, shall be distributed to the following groups in the following order of priority: 1. a. to the extent permitted by law, to satisfy Company liabilities to creditors, including Members who are creditors (other than for past due Company distributions), and the expenses of liquidation, of the Company, whether by payment or establishment of reserves; 2. b. to satisfy Company obligations to Members to pay past due Company distributions; and 3. c. to the sole Member, or, if there is more than one Member, to the Members in accordance with the positive balances in their respective capital accounts.

Order of Distribution. Upon completion of all desired sales of Company Property, and after payment of all selling costs and expenses, the proceeds of such sales, and any Company Property that is to be distributed in kind, shall be distributed to the following groups in the following order of priority: 1. to the extent permitted by law, to satisfy Company liabilities to creditors, including Members who are creditors (other than for past due Company distributions), and the expenses of liquidation, liquidation of the Company, whether by payment or establishment of reserves; 2. to satisfy Company obligations to Members Member(s) to pay past due Company distributions; and; 3. to the sole MemberMember(s), or, if there is more than one Member, to the Members in accordance with the positive balances in its or their respective capital accountsaccount(s), if any; and 4. to the Member(s) in accordance with its or their respective Interests.

Order of Distribution. Upon completion of the sale of all desired sales of Company Property, and after payment of all selling costs and expenses, the proceeds of such sales, and any Company Property that is to be distributed in kind, sales shall be distributed to the following groups in the following order of priority: 1. to the extent permitted by law, (i) to satisfy Company liabilities to creditors, including Members who are creditors of the Company under Member Loans and for unforfeited option deposits, if any, under the Option Agreements, or otherwise (other than for past due Company distributions), and the expenses of liquidation, of the Company, whether by payment or establishment of reserves; 2. to satisfy Company obligations to Members to pay past due Company distributions; and 3. to the sole Member, or, if there is more than one Member, (ii) to the Members in accordance with the positive balances in their respective capital accountsCapital Accounts; and (iii) to the Members in accordance with their respective Interests.