Date of Liquidation. The Company shall be liquidated and terminated when all of its assets have been converted into cash, all promissory notes or other evidences of indebtedness derived by the Company from such conversion of its assets have been collected or otherwise converted into cash, and all such cash has been applied and distributed in accordance with the provisions of Section 9.2 above. The establishment of any reserves shall not have the effect of extending the term of the Company, but such reserves shall be distributed in accordance with Section 9.2 and in the manner and within the time period as the liquidating trustee deems advisable and appropriate.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Columbia Equity Trust, Inc.), Limited Liability Company Agreement (Columbia Equity Trust, Inc.), Limited Liability Company Agreement (Columbia Equity Trust, Inc.)
Date of Liquidation. The Company shall be liquidated and terminated when all of its assets have been converted into cash, all promissory notes or other evidences of indebtedness derived by the Company from such conversion of its assets have been collected or otherwise converted into cash, cash and all such cash has been applied and distributed in accordance with the provisions of Section 9.2 above. The establishment of any reserves shall not have the effect of extending the term of the Company, but such reserves shall be distributed in accordance with Section 9.2 and in the manner and within the time period as the liquidating trustee deems advisable and appropriate.9.2
Appears in 2 contracts
Samples: Limited Liability Company Agreement (American Skiing Co /Me), Limited Liability Company Agreement (American Skiing Co /Me)
Date of Liquidation. The Company shall be liquidated and terminated when all of its assets have been converted into cash, all promissory notes or other evidences of indebtedness any Debt derived by the Company from such conversion of its assets have been collected or otherwise converted into cash, and all such cash has been applied and distributed in accordance with the provisions of Section 9.2 above13.2. The establishment of any reserves shall not have the effect of extending the term of the Company, but such reserves shall be distributed in accordance with Section 9.2 13.2 and in the manner and within the time period as the liquidating trustee deems advisable and appropriate.
Appears in 2 contracts
Samples: Escrow Agreement (Parkway, Inc.), Escrow Agreement (Parkway, Inc.)
Date of Liquidation. The Company shall be liquidated and terminated when all of its assets Company Assets have been converted into cash, all promissory notes or other evidences of indebtedness derived by the Company from such conversion of its assets the Company Assets have been collected or otherwise converted into cash, and all such cash has been applied and distributed in accordance with the provisions of Section 9.2 above. The establishment of any reserves shall not have the effect of extending the term of the Company, but such reserves shall be distributed in accordance with Section 9.2 and in the manner and within the time period as the liquidating trustee deems advisable and appropriate.
Appears in 1 contract
Samples: Limited Liability Company Agreement (American Assets Trust, Inc.)
