Winding Up; Termination. Upon a dissolution of the Company, the Board, or, if there are no members of the Board, a court appointed liquidating trustee, shall take full account of the Company’s assets and liabilities and wind up the affairs of the Company. The Persons charged with winding up the Company shall settle and close the Company’s business, and dispose of and convey the Company’s non-cash assets as promptly as reasonably possible following dissolution as is consistent with obtaining the fair market value for the Company’s assets.
Appears in 9 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Beyond Commerce, Inc.), Limited Liability Company Agreement (DiCE MOLECULES HOLDINGS, LLC)
Winding Up; Termination. Upon a dissolution of the Company, the Board, or, if there are no members of the Board, a court appointed liquidating trustee, shall take full account of the Company’s assets and liabilities and wind up the affairs of the Company. In liquidation of the Company’s assets, the liquidation preference for the Preferred B Unit may be met with in-kind distributions. The Persons charged with winding up the Company shall settle and close the Company’s business, and dispose of and convey the Company’s non-cash assets as promptly as reasonably possible following dissolution as is consistent with obtaining the fair market value for the Company’s assets.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Yangtze River Development LTD)
