Character of Liquidating Distributions. All payments made in liquidation of the interest of a Member in the Company shall be made in exchange for the interest of such Member in Property pursuant to Section 736(b)(1) of the Code, including the interest of such Member in Company goodwill.
Appears in 18 contracts
Samples: Limited Liability Company Agreement (Bunge LTD), Operating Agreement (Compass Diversified Holdings), Operating Agreement (Compass Diversified Trust)
Character of Liquidating Distributions. All payments made in liquidation of the interest of a Member Unitholder in the Company shall be made in exchange for the interest of such Member Unitholder in Property pursuant to Section 736(b)(1) of the Code, including the interest of such Member the Unitholder in Company goodwill.
Appears in 10 contracts
Samples: Limited Liability Company Agreement (Illini Bio-Energy, LLC), Limited Liability Company Agreement (U. S. Premium Beef, LLC), Limited Liability Company Agreement (U. S. Premium Beef, LLC)
Character of Liquidating Distributions. All payments made in liquidation of the interest of a Member in the Company shall be made in exchange for the interest of such Member in Company Property pursuant to Section 736(b)(1) of the Code, including the interest of such Member in Company goodwill.
Appears in 2 contracts
Samples: Operating Agreement (Valcent Products Inc.), Limited Liability Company Operating Agreement (Global Green Solutions Inc.)
