Order of Payment of Liabilities Upon Dissolution. After determining that all known debts and liabilities of the Company, including all contingent, conditional or unmatured liabilities of the Company, in the process of winding up, including, without limitation, debts and liabilities to the Sole Member in the event it is a creditor of the Company to the extent otherwise permitted by law, have been paid or adequately provided for, the remaining assets shall be distributed in cash or in kind to the Sole Member.
Appears in 9 contracts
Samples: Limited Liability Company Agreement (Wmeco Funding LLC), Limited Liability Company Agreement (PSNH Funding LLC 2), Limited Liability Company Agreement (PSNH Funding LLC)
Order of Payment of Liabilities Upon Dissolution. After determining that all known debts and liabilities of the Company, including all contingent, conditional or unmatured liabilities of the Company, in the process of winding winding-up, including, without limitation, debts and liabilities to the Sole Member in the event it is a creditor of the Company to the extent otherwise permitted by law, have been paid or adequately provided for, the remaining assets shall be distributed in cash or in kind to the Sole Member.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Bec Funding LLC), Limited Liability Company Agreement (B E C Energy), Limited Liability Company Agreement (Comed Funding LLC)
Order of Payment of Liabilities Upon Dissolution. After determining that all known debts and liabilities of the Company, including all contingent, conditional or unmatured liabilities of the Company, Company in the process of winding winding-up, including, without limitation, debts and liabilities to the Sole Member in the event it is a creditor Members and other parties who are creditors of the Company Company, and the repayment of construction or other loans to the extent otherwise permitted by law, Company have been paid or adequately provided for, the remaining assets shall be distributed in cash or in kind to the Sole MemberMembers in accordance with Section 7.6 above.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Ashton Houston Residential L.L.C.)
Order of Payment of Liabilities Upon Dissolution. After determining that all known debts and liabilities of the Company, including all contingent, conditional or unmatured liabilities of the Company, in the process of winding winding-up, including, without limitation, debts and liabilities to the Sole Member in the event it is a creditor of the Company to the extent otherwise permitted by law, have been paid or adequately provided for, the remaining assets shall be distributed in cash or in kind to the Sole MemberMembers of the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Illinois Power Securitization Limited Liability Co)
