Winding Up of Affairs. In the event of the dissolution and liquidation of the Company for any reason, the Members shall commence to wind up the affairs of the Company and shall convert all of the Company’s assets to cash or cash equivalents within such reasonable period of time as may be required to receive fair value therefor. All items of income, gain, loss, deduction and credit during the period of liquidation shall be allocated among the Members in the same manner as before the dissolution.
Appears in 3 contracts
Samples: Operating Agreement, Operating Agreement (Gallagher Arthur J & Co), Operating Agreement (Gallagher Arthur J & Co)
Winding Up of Affairs. In the event of the dissolution and liquidation of the Company for any reason, the Members Managers shall commence to wind up the affairs of the Company and shall convert all of the Company’s 's assets to cash or cash equivalents within such reasonable period of time oftime as may be required to receive fair value therefor. All items of income, gain, loss, deduction and credit during the period of liquidation shall be allocated among the Members in the same manner as before the dissolution.
Appears in 1 contract
Samples: Limited Liability Company Agreement
