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

Order of Payment of Liabilities Upon Dissolution. Notwithstanding anything herein to the contrary, 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.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Q Med Inc)

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Order of Payment of Liabilities Upon Dissolution. Notwithstanding anything herein to the contrary, after 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.

Appears in 1 contract

Samples: Operating Agreement (Response Usa Inc)

Order of Payment of Liabilities Upon Dissolution. Notwithstanding anything herein to the contrary, after 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 capital account balances, after taking into account the allocation of Net Profits and Net Losses for the Company's taxable year during which liquidation occurs.

Appears in 1 contract

Samples: Operating Agreement (Rodgers Craig)

Order of Payment of Liabilities Upon Dissolution. Notwithstanding anything herein to the contrary, after 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 taxable year during which liquidation occurs.

Appears in 1 contract

Samples: Operating Agreement (CityCenter Holdings, LLC)

Order of Payment of Liabilities Upon Dissolution. Notwithstanding anything herein to the contrary, after 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 cpaital account balances, after taking into account income and loss allocations for the Company's taxable year during which liquidation occurs.

Appears in 1 contract

Samples: Operating Agreement (Usopn Inc)

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Order of Payment of Liabilities Upon Dissolution. Notwithstanding anything herein to the contrary, after 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 capital CUSIP No. 600000000 13D Page 31 of 50 Pages account balances, after taking into account income and loss allocations for the Company’s taxable year during which liquidation occurs.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Bonn Edward J)

Order of Payment of Liabilities Upon Dissolution. Notwithstanding anything herein to the contrary, after 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 capital account balances, after taking into account income and loss allocations for the Company’s taxable year during which liquidations occur.

Appears in 1 contract

Samples: Operating Agreement

Order of Payment of Liabilities Upon Dissolution. Notwithstanding anything herein to the contrary, after 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 taxable year during which liquidation occurs.

Appears in 1 contract

Samples: Operating Agreement

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