Distribution of Assets on Dissolution. Upon demand by the Company, each Member with a negative Capital Account after taking into account all adjustments and distributions for the taxable year shall restore his Capital Account to a zero balance so that the allocations under this Agreement will have "substantial economic effect" for purposes of the Regulations under (S)704(b) of the Code. Upon the winding up of the Company, the Company's assets shall be distributed:
Appears in 2 contracts
Samples: Limited Liability (Radnor Holdings Corp), Limited Liability (Radnor Holdings Corp)
Distribution of Assets on Dissolution. Upon demand by the Company, each Member with a negative Capital Account after taking into account all adjustments and distributions for the taxable year shall restore his Capital Account to a zero balance so that the allocations under this Agreement will have "substantial economic effect" for purposes of the Regulations under (S)704(bS) 704(b) of the Code. Upon the winding up of the Company, the Company's assets shall be distributed:
Appears in 2 contracts
Samples: Limited Liability (Radnor Holdings Corp), Limited Liability (Radnor Holdings Corp)
