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 non-Member creditors of the Company in order of priority as provided by law in payment of unpaid liabilities of the Company to the extent required by law or under agreements with such creditors; [b] Second, to the setting of any reserves which the Members reasonably deem necessary for any anticipated, contingent or unforeseen liabilities or obligations of the Company arising out of or in connection with the conduct of the Company's business. At the expiration of such period as the Members reasonably deem advisable, the balance thereof shall be distributed in accordance with this Section 12.2; [c] Third, to any Member for any other loans or debts owing to such Member by the Company; [d] Fourth, to all Members in proportion to their Capital Account balances to the extent allowable under Section 5.3 until their Capital Account balances are reduced to zero; and, [e] Fifth, the balance, if any, to all Members in proportion to their Ownership Interests percentages under Section 5.2.

Priority of Payment. The assets of the Company will be distributed in Liquidation of the Company in the following order: [a] First, to non-Member creditors of the Company in order of priority as provided by law in payment of unpaid liabilities of the Company to the extent required by law or under agreements with such creditors; [b] Second, to the setting of any reserves which the Members reasonably deem necessary for any anticipated, contingent or unforeseen liabilities or obligations of the Company arising out of or in connection with the conduct of the Company's business. At the expiration of such period as the Members reasonably deem advisable, the balance thereof shall be distributed in accordance with this Section 12.213.2; [c] Third, to any Member for any other loans or debts owing to such Member by the Company; [d] Fourth, to all Members in proportion to their Capital Account balances to the extent allowable under Section 5.3 6.3 until their Capital Account balances are reduced to zero; and, [e] Fifth, the balance, if any, to all Members in proportion to their Ownership Interests percentages under Section 5.26.2.

Priority of Payment. The assets of the Company will be distributed in Liquidation of the Company in the following order: [: (a] ) First, to non-Member creditors of the Company in order of priority as provided by law in payment of unpaid liabilities of the Company to the extent required by law or under agreements with such creditors; [; (b] ) Second, to the setting of any reserves which the Members reasonably deem necessary for any anticipated, contingent or unforeseen liabilities or obligations of the Company arising out of or in connection with the conduct of the Company's ’s business. At the expiration of such period as the Members reasonably deem advisable, the balance thereof shall be distributed in accordance with this Section 12.2; [; (c] ) Third, to any Member for any other loans or debts owing to such Member by the Company; [; (d] ) Fourth, to all Members in proportion to their Capital Account balances to the extent allowable under Section 5.3 until their Capital Account balances are reduced to zero; and, [ (e] ) Fifth, the balance, if any, to all Members in proportion to their Ownership Interests Interest percentages under Section 5.2.

Priority of Payment. The assets of the Company will be distributed in ------------------- Liquidation of the Company in the following order: [a] First, to non-Member creditors of the Company in order of priority as provided by law in payment of unpaid liabilities of the Company to the extent required by law or under agreements with such creditors; [b] Second, to the setting of any reserves which the Members reasonably deem necessary for any anticipated, contingent or unforeseen unforseen liabilities or obligations of the Company arising out of or in connection with the conduct of the Company's business. At the expiration of such period as the Members reasonably deem advisable, the balance thereof shall be distributed in accordance with this Section 12.2; [c] Third, to any Member for any other loans or debts owing to such Member by the Company; [d] Fourth, to all Members in proportion to their Capital Account balances to the extent allowable under Section 5.3 5.2 until their Capital Account balances are reduced to zero; and, [e] Fifth, the balance, if any, to all Members in proportion to their Ownership Interests percentages under Section 5.2.