Winding Up and Termination. On the occurrence of a Liquidation Event, unless a Continuation Election is made, the Board may select one or more Persons to act as liquidator or may itself act as liquidator. The liquidator shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Act. The costs of winding up shall be borne as a Company expense, including reasonable compensation to the liquidator if approved by the Board. Until final distribution, the liquidator shall continue to operate the Company properties with all of the power and authority of the Board. The steps to be accomplished by the liquidator are as follows:
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Ranger Energy Services, Inc.), Limited Liability Company Agreement (Ranger Energy Services, Inc.), Limited Liability Company Agreement (USW Financing Corp.)
Winding Up and Termination. On the occurrence of a Liquidation Dissolution Event, unless a Continuation Election is made, the Board may select one or more Persons to act as liquidator or may itself act as liquidator. The liquidator shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Act. The costs of winding up shall be borne as a Company expense, including reasonable compensation to the liquidator if approved by the Board. Until final distribution, the liquidator shall continue to operate the Company properties with all of the power and authority of the Board. The steps to be accomplished by the liquidator are as follows:
Appears in 2 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement
Winding Up and Termination. On the occurrence of a Liquidation Event, unless a Continuation Election is made, the Board Managing Member may select one or more Persons to act as liquidator or may itself act as liquidator. The liquidator shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Act. The costs of winding up shall be borne as a Company expense, including reasonable compensation to the liquidator if approved by the BoardManaging Member. Until final distribution, the liquidator shall continue to operate the Company properties with all of the power and authority of the BoardManaging Member. The steps to be accomplished by the liquidator are as follows:
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Ranger Energy Services, Inc.), Limited Liability Company Agreement (Ranger Energy Services, Inc.)
Winding Up and Termination. On the occurrence of a Liquidation Dissolution Event, unless a Continuation Election is made, the Board of Managers may select one or more Persons to act as liquidator or may itself act as liquidator. The liquidator shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Act. The costs of winding up shall be borne as a Company expense, including reasonable compensation to the liquidator if approved by the BoardBoard of Managers. Until final distribution, the liquidator shall continue to operate the Company properties with all of the power and authority of the BoardBoard of Managers. The steps to be accomplished by the liquidator are as follows:
Appears in 1 contract
Samples: Equity Capital Contribution Agreement (Bloom Energy Corp)
