Common use of Distribution on Termination Clause in Contracts

Distribution on Termination. Upon a dissolution and termination of the Company, the person appointed by the Member (the “Liquidator”) shall collect and marshal the Company’s assets, sell such assets as such Liquidator shall deem appropriate, provide for the payment of all of the legally enforceable obligations of the Company that are not then due and distribute the proceeds and all other assets of the Company in the following order:

Appears in 6 contracts

Samples: Limited Liability Company Agreement (HomeAdvisor, Inc.), Limited Liability Company Agreement (Humor Rainbow Inc), Limited Liability Company Agreement (Dictionary.com, LLC)

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Distribution on Termination. Upon a dissolution and termination of the Company, the person appointed by the Member (the "Liquidator") shall collect and marshal the Company’s 's assets, sell such assets as such Liquidator shall deem appropriate, provide for the payment of all of the legally enforceable obligations of the Company that are not then due and distribute the proceeds and all other assets of the Company in the following order:

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Match Group Holdings II, LLC), Limited Liability Company Agreement (Match Group Holdings II, LLC)

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Distribution on Termination. Upon a dissolution and termination of the Company, the person Person appointed for such purpose by the Board or the Member (the “Liquidator”) shall collect and marshal the Company’s assets, ; sell such assets as such Liquidator shall deem appropriate, ; provide for the payment of all of the legally enforceable obligations of the Company that are not then due due; and distribute the proceeds and all other assets of the Company in the following order:

Appears in 1 contract

Samples: Operating Agreement (Dictionary.com, LLC)

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