Common use of Procedural and Other Matters Clause in Contracts

Procedural and Other Matters. (a) Upon dissolution of the Company and until the filing of a certificate of cancellation as provided in Section 10.4(b), the Persons winding up the affairs of the Company may, in the name of, and for and on behalf of, the Company, prosecute and defend suits, whether civil, criminal or administrative, settle and close the business of the Company, dispose of and convey the property of the Company, discharge or make reasonable provision for the liabilities of the Company, and distribute to the Members any remaining assets of the Company, in accordance with this Article 10 and all without affecting the liability of Members and Managers and without imposing liability on a liquidating trustee. (b) The Certificate may be canceled upon the dissolution and the completion of winding up of the Company, by any Person authorized by the Board of Managers to cause such cancellation in connection with such dissolution and winding up.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (JCM Partners LLC), Limited Liability Company Agreement (JCM Partners LLC), Limited Liability Company Agreement (JCM Partners LLC)

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Procedural and Other Matters. (a) Upon dissolution of the Company REIT and until the filing of a certificate of cancellation as provided in Section 10.4(b)cancellation, the Persons winding up the affairs of the Company REIT may, in the name of, and for and on behalf of, the CompanyREIT, prosecute and defend suits, whether civil, criminal or administrative, settle and close the business of the CompanyREIT, dispose of and convey the property of the CompanyREIT, discharge or make reasonable provision for the liabilities of the CompanyREIT, and distribute to the Members any remaining assets of the CompanyREIT, in accordance with this Article 10 9 and all without affecting the liability of Members and Managers or the Manager and without imposing liability on a liquidating trustee. (b) The Certificate may be canceled upon the dissolution and the completion of winding up of the CompanyREIT, by any Person authorized by the Board of Managers to cause such cancellation in connection with such dissolution and winding up.

Appears in 1 contract

Samples: Limited Partnership Agreement (Industrial Property Trust Inc.)

Procedural and Other Matters. (a) Upon dissolution of the Company and until the filing of a certificate of cancellation as provided in Section 10.4(b), the Persons winding up the affairs of the Company may, in the name of, and for and on behalf of, the Company, prosecute and defend suits, whether civil, criminal or administrative, gradually settle and close the business of the Company, dispose of and convey the property of the Company, discharge or make reasonable provision for the liabilities of the Company, and distribute to the Members members any remaining assets of the Company, in accordance with this Article 10 and all without affecting the liability of Members Shareholders and Managers Directors and without imposing liability on a liquidating trustee. (b) The Certificate may be canceled upon the dissolution and the completion of winding up of the Company, by any Person authorized by the Board of Managers to cause such cancellation in connection with such dissolution and winding up.

Appears in 1 contract

Samples: Certificate of Formation and Operating Agreement (Municipal Mortgage & Equity LLC)

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Procedural and Other Matters. (a) Upon dissolution of the Company and until the filing of a certificate of cancellation as provided in Section 10.4(b), the Persons winding up the affairs of the Company may, in the name of, and for and on behalf of, the Company, prosecute and defend suits, whether civil, criminal or administrative, settle and close the business of the Company, dispose of and convey the property of the Company, discharge or make reasonable provision for the liabilities of the Company, and distribute to the Members Shareholders any remaining assets of the Company, in accordance with this Article 10 and all without affecting the liability of Members Shareholders and Managers Directors and without imposing liability on a liquidating trustee. (b) The Certificate may be canceled upon the dissolution and the completion of winding up of the Company, by any Person authorized by the Board of Managers to cause such cancellation in connection with such dissolution and winding up.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Carey Diversified Properties LLC)

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