Winding Up, Liquidation and Distribution of Assets. Upon the winding up of the Company, the Company property shall be distributed: (a) first, to creditors, including the Member if it is a creditor, to the extent permitted by law, in satisfaction of Company liabilities; and (b) second, to the Member. Any such distributions shall be in cash or property or partly in both, as determined by the Member.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (Conversent Communications of New Jersey, LLC), Limited Liability Company Agreement (Conversent Communications of New Jersey, LLC), Limited Liability Company Agreement (Conversent Communications of New Jersey, LLC)
Winding Up, Liquidation and Distribution of Assets. Upon the winding up of the Company, the Company property shall be distributed:
(a) first, to creditors, including the Member if it is a creditor, to the extent permitted by law, in satisfaction of Company liabilities; and;
(b) second, to the Member. Any such distributions shall be in cash or property or partly in both, as determined by the Member.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement (2420 Lakemont Avenue MM, LLC), Limited Liability Company Operating Agreement (2420 Lakemont Avenue MM, LLC), Operating Agreement (2420 Lakemont Avenue MM, LLC)
Winding Up, Liquidation and Distribution of Assets. Upon the winding up of the Company, the Company company property shall be distributed:
(a) first, to creditors, including the Member if it is a creditor, to the extent permitted by law, in satisfaction of Company liabilities; and;
(b) second, to the Member. Any such distributions shall be in cash or property or partly in both, as determined by the Member.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (2420 Lakemont Avenue MM, LLC), Limited Liability Company Agreement (2420 Lakemont Avenue MM, LLC), Limited Liability Company Agreement (2420 Lakemont Avenue MM, LLC)
Winding Up, Liquidation and Distribution of Assets. Upon the winding up of the Company, the Company property shall be distributed:
(a) first, to creditors, including the Member if it is a creditor, to the extent permitted by law, in satisfaction of Company liabilities; and
(b) second, to the Member. Any such distributions shall be in cash or property or partly in both, as determined by the MemberManager.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Clarksburg Skylark, LLC)
Winding Up, Liquidation and Distribution of Assets. Upon the winding up of the Company, the Company property shall be distributed:
(a) first, to creditors, including the Member Shareholder if it is a creditor, to the extent permitted by law, in satisfaction of Company liabilities; and
(b) second, to the MemberShareholder. Any such distributions shall be in cash or property or partly in both, as determined by the MemberBoard.
Appears in 1 contract
Samples: Limited Liability Company Agreement (WVLT-TV, Inc.)
