Distribution of Assets on Dissolution. Upon the winding up of the Company, the Managing Member shall take full account of the assets and liabilities of the Company, shall liquidate the assets (unless the Managing Member determines that a distribution of any Company Property in- kind would be more advantageous to the Member than the sale thereof) as promptly as is consistent with obtaining the fair value thereof, and shall apply and distribute the proceeds therefrom in the following order:
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement (Dvi Receivables Corp Viii), Contribution and Servicing Agreement (Dvi Receivables Corp Viii), Dvi Receivables Corp Viii
Distribution of Assets on Dissolution. Upon the winding up of the Company, the Managing Member shall take full account of the assets and liabilities of the Company, shall liquidate the assets (unless the Managing Member determines that a distribution of any Company Property in- in-kind would be more advantageous to the Member than the sale thereof) as promptly as is consistent with obtaining the fair value thereof, and shall apply and distribute the proceeds therefrom in the following order:
Appears in 2 contracts
Samples: Dvi Receivables Corp Viii, Dvi Receivables Corp Viii
