Common use of Priority of Payment Clause in Contracts

Priority of Payment. The assets of the Company will be distributed in liquidation of the Company in the following order: (a) first, to creditors by the payment or provisions for payment of the debts and liabilities of the Company, and the expenses of liquidation, (b) second, to the setting up of any reserves that are reasonably necessary for any contingent, conditional or unmatured liabilities or obligations of the Company, and (c) third, the balance of the Company’s assets to the Member.

Priority of Payment. The assets of the Company will be distributed in liquidation of the Company Liquidation in the following order: : (a) firstFirst, to creditors by the payment or provisions provision for payment of the debts and liabilities of the Company, Company (including any loans or advances that may have been made by any Member or Affiliate) and the expenses of liquidation, Liquidation; (b) secondSecond, to the setting up of any reserves that Campus Crest and HSRE determine are reasonably necessary for any contingent, conditional or unmatured liabilities or obligations of the Company, and ; and (c) thirdThird, in the balance of the Company’s assets to the Membermanner provided for in Section 4.1 hereof.

Priority of Payment. The assets of the Company will be distributed in liquidation of the Company Liquidation in the following order: (Information indicated by [***] in the text has been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for Confidential Treatment under Rule 24b-2 under the Securities Exchange Act of 1934. [a) first] First, to creditors by the payment or provisions provision for payment of the debts and liabilities of the Company, Company (other than any loans or advances that may have been made by any Member or any Affiliate of a Member) and the expenses of liquidation, (b) second, to the setting up of any reserves that are reasonably necessary for any contingent, conditional or unmatured liabilities or obligations of the Company, and (c) third, the balance of the Company’s assets to the Member.Liquidation;

Priority of Payment. The assets of the Company will be distributed in liquidation of the Company in the following order: (a) first, to : 9.5.1 To creditors by the payment or provisions provision for payment of the debts and liabilities of the Company, Company (including any loans that may have been made by any Member or Affiliate) and the expenses of liquidation, (b) second, to ; 9.5.2 To the setting up of any reserves that are reasonably necessary for any contingent, conditional contingent or unmatured unforeseen liabilities or obligations of the Company; 9.5.3 The balance, and (c) thirdif any, the balance of the Company’s assets to the MemberMembers in accordance with Sections 7.1 or, to the extent applicable, Section 7.2.

Priority of Payment. The assets of the Company will be distributed in liquidation of the Company Liquidation in the following order: : (a) firstto creditors, to creditors including Members who are creditors, by the payment or provisions provision for payment of the debts and liabilities of the Company, Company and the expenses of liquidation, Liquidation; (b) second, to the setting up of any reserves that are reasonably necessary for any contingent, conditional contingent or unmatured unforeseen liabilities or obligations of the Company, and ; and (c) third, the balance of the Company’s assets to the MemberMembers pro rata in proportion to the balances in their Capital Accounts.

Priority of Payment. The assets of the Company will be distributed in liquidation of the Company Liquidation in the following order: (a) firstFirst, to creditors by the payment or provisions provision for payment of the debts and liabilities of the Company, Company (including any loans or advances that may have been made by any Member or Affiliate) and the expenses of liquidation, Liquidation; (b) secondSecond, to the setting up of any reserves that Campus Crest and HSRE determine are reasonably necessary for any contingent, conditional or unmatured liabilities or obligations of the Company, ; and (c) thirdThird, in the balance of the Company’s assets to the Membermanner provided for in Section 4.1 hereof.

Priority of Payment. The assets of the Company will be distributed in liquidation of the Company in the following order: (a) first, to creditors by the payment or provisions for payment of the debts and liabilities of the Company, and the expenses of liquidation, (b) second, to the setting up of any reserves that are reasonably necessary for any contingent, conditional or unmatured liabilities or obligations of the Company, and (c) third, the balance of the Company’s 's assets to the Member.

Priority of Payment. The assets of the Company will be distributed in liquidation of the Company in the following order: (a) first, to : 7.5.1 To creditors by the payment or provisions provision for payment of the debts and liabilities of the Company, Company (including any loans that may have been made by any Member or Affiliate) and the expenses of liquidation, (b) second, to ; 7.5.2 To the setting up of any reserves that are reasonably necessary for any contingent, conditional contingent or unmatured unforeseen liabilities or obligations of the Company; 7.5.3 The balance, and (c) thirdif any, the balance of the Company’s assets to the MemberMembers in accordance with Section 5.1 and Section 5.2.

Priority of Payment. The assets of the Company will be distributed in liquidation of the Company Liquidation in the following order: : (a) firstto creditors, to creditors including Members who are creditors, by the payment or provisions provision for payment of the debts and liabilities of the Company, Company and the expenses of liquidation, Liquidation; (b) second, to the setting up of any reserves that are reasonably necessary for any contingent, conditional contingent or unmatured unforeseen liabilities or obligations of the Company, and ; and (c) third, the balance of the Company’s assets to the MemberMembers pro rata in proportion to the balances in the Capital Accounts.