Common use of Rights on Dissolution and Winding Up Clause in Contracts

Rights on Dissolution and Winding Up. (a) In the event of any dissolution and winding up of the Company, the Member shall be entitled to all remaining assets of the Company available for distribution to the Member after satisfaction (whether by payment or reasonable provision for payment) of all liabilities, debts and obligations of the Company to creditors, as set forth in Section 18-804 of the LLC Act.

Appears in 7 contracts

Samples: Limited Liability Company Agreement (MP Environmental Funding LLC), Limited Liability Company Agreement (PE Environmental Funding LLC), Limited Liability Company Agreement (MP Environmental Funding LLC)

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