Common use of Application and Distribution of Assets Clause in Contracts

Application and Distribution of Assets. Upon windup of the Company, the Company shall distribute its assets as follows: (a) first, to creditors of the Company, including the Company Members who are creditors, to the extent permitted by Applicable Law, whether by payment or the making of reasonable provision for the payment thereof, and including any contingent, conditional and unmature liabilities of the Company, taking into account the relative priorities thereof, (b) second, to the Company Members and former Company Members in satisfaction of liabilities under the Act for distributions to the Company Members, and (c) third to the Company Members in accordance with their respective Percentage Interests.

Application and Distribution of Assets. Upon windup of the Company, the Company shall distribute its assets as follows: (a) first, to creditors of the Company, including the Company Members who are creditors, to the extent permitted by Applicable Law, whether by payment or the making of reasonable provision for the payment thereof, and including any contingent, conditional and unmature liabilities of the Company, taking into account the relative priorities thereof, (b) second, to the Company Members and former Company Members in satisfaction of liabilities under the Act for distributions to the Company Members, and (c) third to the Company Members in accordance with their respective Percentage Interests.Interests.‌

Application and Distribution of Assets. Upon windup of the Company, the Company shall distribute its assets as follows: (a) first, to creditors of the Company, including the Company Members who are creditors, to the extent permitted by Applicable Law, whether by payment or the making of reasonable provision for the payment thereof, and including any contingent, conditional and unmature liabilities of the Company, taking into account the relative priorities thereof, (b) second, to the Company Members and former Company Members in satisfaction of liabilities under the Act for distributions to the Company such Members, and (c) third to the Company Members in accordance with their respective Percentage Interests.