WINDING UP AND LIQUIDATION OF COMPANY; DISTRIBUTION OF COMPANY ASSETS. Promptly after determining to terminate the legal existence of the Company, the Manager shall wind up its business and internal affairs, shall liquidate it, and shall distribute its assets to the Member and to creditors as required by the Act.
Appears in 4 contracts
Samples: Operating Agreement (Roanoke Electric Steel Corp), Operating Agreement (Omnisource Corp), Operating Agreement (Omnisource Corp)
WINDING UP AND LIQUIDATION OF COMPANY; DISTRIBUTION OF COMPANY ASSETS. Promptly after determining to terminate the legal existence of the Company, the Manager Member shall wind up its business and internal affairs, shall liquidate it, and shall distribute its assets to the Member and to creditors as required by the Act.
Appears in 4 contracts
Samples: Operating Agreement (Roanoke Electric Steel Corp), Operating Agreement (Jackson Iron & Metal Co., Inc.), Operating Agreement (Roanoke Electric Steel Corp)
WINDING UP AND LIQUIDATION OF COMPANY; DISTRIBUTION OF COMPANY ASSETS. Promptly after determining to terminate the legal existence of the Company, the Manager shall wind up its business and internal affairs, shall liquidate it, and shall distribute its assets to the Member its Members and to creditors as required by the Act.
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