Common use of Order of Payment of Liabilities Upon Dissolution Clause in Contracts

Order of Payment of Liabilities Upon Dissolution. After determining ------------------------------------------------ that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive Capital Account balances, after taking into account income and loss allocations for the Company's taxable year during which liquidation occurs; provided, however, that after distributions are made which reduce the positive Capital Account balances of the Members to zero, all additional distributions shall be made to the Members in accordance with their Membership Interests.

Appears in 1 contract

Samples: Operating Agreement (CPC of America Inc)

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Order of Payment of Liabilities Upon Dissolution. After determining ------------------------------------------------ that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members Member in accordance with their its positive Capital Account balancescapital account balance, after taking into account income and loss allocations for the Company's ’s taxable year during which liquidation occurs; provided, however, that after distributions are made which reduce the positive Capital Account balances of the Members to zero, all additional distributions shall be made to the Members in accordance with their Membership Interests.

Appears in 1 contract

Samples: Operating Agreement (CityCenter Holdings, LLC)

Order of Payment of Liabilities Upon Dissolution. After determining ------------------------------------------------ that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive Capital Account balances, after taking into account income and loss allocations for the Company's taxable year during which liquidation occurs; provided, however, that after distributions are made which reduce the positive Capital Account balances of the Members to zero, all additional distributions shall be made to the Members in accordance with their Membership Interests.

Appears in 1 contract

Samples: Operating Agreement (CPC of America Inc)

Order of Payment of Liabilities Upon Dissolution. After determining ------------------------------------------------ that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members Member in accordance with their positive Capital Account capital account balances, after taking into account income and loss allocations for the Company's taxable year during which liquidation occurs; provided, however, that after distributions are made which reduce the positive Capital Account balances of the Members to zero, all additional distributions shall be made to the Members in accordance with their Membership Interests.. 9.4

Appears in 1 contract

Samples: Operating Agreement

Order of Payment of Liabilities Upon Dissolution. After determining ------------------------------------------------ that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive Capital Account balances, after taking into account income and loss allocations for the Company's taxable year during which liquidation occurs; provided, however, that after distributions are made which reduce the positive Capital Account balances of the Members to zero, all additional distributions shall be made to the Members in accordance with their Membership Interests.

Appears in 1 contract

Samples: Operating Agreement (Response Usa Inc)

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Order of Payment of Liabilities Upon Dissolution. After determining ------------------------------------------------ that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive Capital Account balancesmembership interests, after taking into account income and loss allocations for the Company's taxable year during which liquidation occurs; provided, however, that after distributions are made which reduce the positive Capital Account balances of the Members to zero, all additional distributions shall be made to the Members in accordance with their Membership Interests.

Appears in 1 contract

Samples: Operating Agreement (National Earth Products Inc)

Order of Payment of Liabilities Upon Dissolution. After determining ------------------------------------------------ that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members who have participated in such investment assets in accordance with their positive Capital Account balancescapital account balances for such investments, after taking into account income and loss allocations with respect to such investments for the Company's ’s taxable year during which liquidation occurs; provided, however, that after distributions are made which reduce the positive Capital Account balances of the Members to zero, all additional distributions shall be made to the Members in accordance with their Membership Interests.

Appears in 1 contract

Samples: Operating Agreement Dooston Gardnerville, LLC

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