Winding Up of the Company. (a) Upon dissolution of the Company for any of the events described in subparagraphs (a) through (d) of Section 11.1, the Members shall wind up the affairs and liquidate the assets of the Company, in a manner approved by the Members, as promptly as is consistent with obtaining the fair value thereof, and the proceeds therefrom, to the extent sufficient therefor, when and as received by the Company shall be utilized, paid or distributed in the following order:
Appears in 6 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement (Carey Watermark Investors Inc), Limited Liability Company Operating Agreement (Carey Watermark Investors Inc)