Payments in Liquidation. The assets of the Company shall be distributed in liquidation of the Company in the following order:
1. to the creditors of the Company (other than the Members) in satisfaction of the liabilities of the Company, in the order of priority established by law, either by payment or the reasonable provision for payment thereof;
2. to the Members, in repayment of any loans made to, or other debts owed by, the Company to such Members; and
3. the balance, if any, to the Members in the respective amounts each would receive if such distributions were made pursuant to the provisions of paragraph 7.5.
Payments in Liquidation. The assets of the Company shall be distributed in liquidation of the Company in the following order:
1. t o the creditors of the Company (other than the Members) in satisfaction of the liabilities of the Company, in the order of priority established by law, either by payment or the reasonable provision for payment thereof;
Payments in Liquidation. The assets of the Partnership shall be distributed in final liquidation of the Partnership in the following order:
(a) to the non-Partner creditors of the Partnership, in the order of priority established by law, either by payment or by establishment of reserves;
(b) to the Partners, in repayment of any loans made to, or other debts owed by, the Partnership to such Partners, provided that such loans or other debts are in writing;
(c) the balance, if any, to the General Partner and the Limited Partners in respect of the positive balances in their Capital Accounts in compliance with Treasury Regulation Section 1.704-1(b)(2)(ii)(b)(2).
Payments in Liquidation. On the final distribution in the winding up of the Fund, the assets of the Fund shall be distributed in the following order:
(a) to the creditors of the Fund, other than Members, in the order of priority established by law, either by payment or establishment of reserves;
(b) to the Members, in repayment of any loans made to, or other debts owed by, the Fund to such Members;
(c) the balance, if any, to the Members in respect of the positive balances in their Capital Accounts in compliance with Treasury Regulation Section 1.704-1(b)(2)(ii)(b)(2). No Member shall be obligated to restore any deficit in its Capital Account; provided that, (i) the Managing Member may withhold from the liquidating distribution an amount determined by the Managing Member in good faith to be necessary for the payment by the Fund of expenses relating to the Fund’s dissolution and termination, and the Non-Managing Members hereby agree that to the extent such withheld amount exceeds by up to $500,000 the actual amount paid by the Fund in its liquidation and termination, the Managing Member shall be entitled to retain such excess amount and not distribute such excess amount to the Members, and (ii) any assets or amounts, including without limitation, accounts receivable, prepaid rents or other items, that were written off by the Managing Member at the time of the Fund’s final liquidating distribution and that are subsequently collected may be retained by the Managing Member and not distributed among the Members hereunder.
Payments in Liquidation. The assets of the Partnership shall be distributed in final liquidation of the Partnership in the following order and priority:
(a) to the creditors of the Partnership, including the Partners, in the order of priority established by law, either by payment or by establishment of reserves;
(b) to the General Partner in the amount of $10,000; and
(c) the balance of the Partnership’s assets, if any, shall thereafter be distributed in accordance with Section 7.04.
Payments in Liquidation. On the final distribution in the winding up of the Fund, the assets of the Fund shall be distributed in the following order:
(a) to the creditors of the Fund, other than Members, in the order of priority established by law, either by payment or establishment of reserves;
Payments in Liquidation. The assets of the Partnership shall be distributed in final liquidation of the Partnership in the following order:
(a) to the creditors of the Partnership, including those Partners who are creditors of the Partnership, in the order of priority established by law, either by payment or by establishment of reserves; and
(b) to the General Partner and the Limited Partners in accordance with the amounts they would receive if such assets were distributed in accordance with Sections 7.4 and 7.5(a); provided, however, that the General Partner shall be obligated to contribute to the Partnership an amount in cash, or Securities (previously distributed in kind from the Partnership) with a fair market value equal to the amounts the General Partner is obligated to pay back under Section 10.5.
Payments in Liquidation. On the final distribution in the winding up of the Company, the assets of the Company shall be distributed in the following order:
