Common use of Distributions in Cash or in Kind Clause in Contracts

Distributions in Cash or in Kind. Upon the dissolution of the Company, the Board shall use all commercially reasonable efforts to liquidate all of the Company’s assets in an orderly manner and apply the proceeds of such liquidation as set forth in Section 13.2; provided that, if in the good faith judgment of the Board, a Company asset should not be liquidated, the Board shall cause the Company to allocate, on the basis of the Fair Market Value of any Company assets not sold or otherwise disposed of, any unrealized gain or loss based on such value to the Members’ Capital Accounts as though the assets in question had been sold on the date of distribution and, after giving effect to any such adjustment, distribute such assets in accordance with Section 13.2 as if such Fair Market Value had been received in cash, subject to the priorities set forth in Section 13.2, and provided, further, that the Board shall in good faith attempt to liquidate sufficient Company assets to satisfy in cash (or make reasonable provision for) the debts and liabilities referred to in Section 13.2.

Appears in 12 contracts

Samples: Limited Liability Company Agreement (Auto Disposal of Memphis, Inc.), Limited Liability Company Agreement (CVR Energy Inc), Limited Liability Company Agreement (CVR Energy Inc)

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Distributions in Cash or in Kind. Upon the dissolution of the Company, the Board shall use all commercially reasonable efforts to liquidate all of the Company’s 's assets in an orderly manner and apply the proceeds of such liquidation as set forth in Section 13.2; 14.2, provided that, that if in the good faith judgment of the Board, a Company asset should not be liquidated, the Board shall cause the Company to allocate, on the basis of the Fair Market Value of any Company assets not sold or otherwise disposed of, any unrealized gain or loss based on such value to the Members' Capital Accounts as though the assets in question had been sold on the date of distribution and, after giving effect to any such adjustment, distribute such assets in accordance with Section 13.2 14.2 as if such Fair Market Value had been received in cash, subject to the priorities set forth in Section 13.214.2, and provided, further, that the Board shall in good faith attempt to liquidate sufficient Company assets to satisfy in cash (or make reasonable provision for) the debts and liabilities referred to in Section 13.214.2.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (Eagle Bulk Shipping Inc.), Limited Liability Company Agreement (Eagle Bulk Shipping Inc.), Limited Liability Company Agreement (Eagle Bulk Shipping Inc.)

Distributions in Cash or in Kind. Upon the dissolution of the Company, the Board Managing Member shall use all commercially reasonable efforts to liquidate all of the Company’s assets in an orderly manner and apply the proceeds of such liquidation as set forth in Section 13.2; 12.2, provided that, that if in the good faith judgment of the BoardManaging Member, a Company asset should not be liquidated, the Board Managing Member shall cause the Company to allocate, on the basis of the then current Fair Market Value of any Company assets not sold or otherwise disposed of, any unrealized gain or loss based on such value to the Members’ Capital Accounts as though the assets in question had been sold on the date of distribution and, after giving effect to any such adjustment, distribute such assets in accordance with Section 13.2 12.2 as if such Fair Market Value had been received in cash, subject to the priorities set forth in Section 13.212.2, and provided, further, that the Board Managing Member shall in good faith attempt to liquidate sufficient Company assets to satisfy in cash (or make reasonable provision for) the debts and liabilities referred to in Section 13.212.2.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Warner Music Group Corp.), Limited Liability Company Agreement (Warner Music Group Corp.), Limited Liability Company Agreement (Warner Music Group Corp.)

Distributions in Cash or in Kind. Upon the dissolution of the Company, the Board shall use all commercially reasonable efforts to liquidate all of the Company’s assets in an orderly manner and apply the proceeds of such liquidation as set forth in Section 13.2; 14.2, provided that, that if in the good faith judgment of the Board, a Company asset should not be liquidated, the Board shall cause the Company to allocate, on the basis of the Fair Market Value of any Company assets not sold or otherwise disposed of, any unrealized gain or loss based on such value to the Members’ Capital Accounts as though the assets in question had been sold on the date of distribution and, after giving effect to any such adjustment, distribute such assets in accordance with Section 13.2 14.2 as if such Fair Market Value had been received in cash, subject to the priorities set forth in Section 13.214.2, and provided, further, that the Board shall in good faith attempt to liquidate sufficient Company assets to satisfy in cash (or make reasonable provision for) the debts and liabilities referred to in Section 13.214.2.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Carbuyco, LLC), Limited Liability Company Agreement (IAA Acquisition Corp.), Limited Liability Company Agreement (Adesa California, LLC)

Distributions in Cash or in Kind. Upon the dissolution of the Company, the Board Trustee (or any duly designated liquidating trustee) shall use all commercially reasonable efforts to liquidate all of the Company’s Company assets in an orderly manner and apply the proceeds of such liquidation as set forth in Section 13.2; 9.3, provided that, if in the good faith judgment of the BoardTrustee, a Company asset should not be liquidated, the Board Trustee shall cause the Company to allocate, on the basis of the Fair Market Value value (determined in good faith by the Trustee) of any Company assets not sold or otherwise disposed of, any unrealized gain or loss based on such value to the Members’ Capital Accounts as though the assets in question had been sold on the date of distribution and, after giving effect to any such adjustment, distribute such assets in accordance with Section 13.2 as if such Fair Market Value had been received in cash9.3, subject to the priorities set forth in Section 13.29.3, and provided, further, that the Board Trustee shall in good faith attempt to liquidate sufficient Company assets to satisfy in cash (or make reasonable provision for) the debts and liabilities referred to in Section 13.29.3(a).

Appears in 2 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement

Distributions in Cash or in Kind. Upon the dissolution of the Company, the Board Managing Members shall use all commercially reasonable efforts to liquidate all of the Company’s 's assets in an orderly manner and apply the proceeds of such liquidation as set forth in Section 13.2; , provided that, that if in the good faith judgment of the BoardManaging Members, a Company asset should not be liquidated, the Board Managing Members shall cause the Company to allocate, on the basis of the Fair Market Value of any Company assets not sold or otherwise disposed of, any unrealized gain or loss based on such value to the Members' Capital Accounts as though the assets in question had been sold on the date of distribution and, after giving effect to any such adjustment, distribute such assets in accordance with Section 13.2 as if such Fair Market Value had been received in cash, subject to the priorities set forth in Section 13.2, and provided, further, that the Board Managing Members shall in good faith attempt to liquidate sufficient Company assets to satisfy in cash (or make reasonable provision for) the debts and liabilities referred to in Section 13.2.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Dresser-Rand Group Inc.), Limited Liability Company Agreement (Dresser-Rand Group Inc.)

Distributions in Cash or in Kind. Upon the dissolution of the Company, the Board shall use all commercially reasonable efforts to liquidate all of the Company’s assets in an orderly manner and apply the proceeds of such liquidation as set forth in Section 13.2; provided , provided, that, if in the good faith judgment of the Board, a Company asset should not be liquidated, the Board shall cause the Company to allocate, on the basis of the Fair Market Value of any Company assets not sold or otherwise disposed of, any unrealized gain or loss based on such value to the Members’ Capital Accounts as though the assets in question had been sold on the date of distribution and, after giving effect to any such adjustment, distribute such assets in accordance with Section 13.2 as if such Fair Market Value had been received in cash, subject to the priorities set forth in Section 13.2, and provided, further, that the Board shall in good faith attempt to liquidate sufficient Company assets to satisfy in cash (or make reasonable provision for) the debts and liabilities referred to in Section 13.2.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (DMC Global Inc.), Limited Liability Company Agreement (DMC Global Inc.)

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Distributions in Cash or in Kind. Upon the dissolution of the Company, the Board shall use all commercially reasonable efforts to liquidate all of the Company’s assets in an orderly manner and apply the proceeds of such liquidation as set forth in Section 13.2; , provided that, that if in the good faith judgment of the Board, a Company asset should not be liquidated, the Board shall cause the Company to allocate, on the basis of the Fair Market Value of any Company assets not sold or otherwise disposed of, any unrealized gain or loss based on such value to the Members’ Capital Accounts as though the assets in question had been sold on the date of distribution and, after giving effect to any such adjustment, distribute such assets in accordance with Section 13.2 as if such Fair Market Value had been received in cash, subject to the priorities set forth in Section 13.2, and provided, further, that the Board shall in good faith attempt to liquidate sufficient Company assets to satisfy in cash (or make reasonable provision for) the debts and liabilities referred to in Section 13.2.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (South Texas Supply Company, Inc.), Limited Liability Company Agreement (Del Pharmaceuticals, Inc.)

Distributions in Cash or in Kind. Upon the dissolution of the Company, the Board shall use all commercially reasonable efforts to liquidate all of the Company’s assets in an orderly manner and apply the proceeds of such liquidation as set forth in Section 13.2; 12.2, provided that, that if in the good faith judgment of the Board, a Company asset should not be liquidated, the Board shall cause the Company to allocate, on the basis of the Fair Market Value of any Company assets not sold or otherwise disposed of, any unrealized gain or loss based on such value to the Members’ Capital Accounts as though the assets in question had been sold on the date of distribution and, after giving effect to any such adjustment, distribute such assets in accordance with Section 13.2 12.2 as if such Fair Market Value had been received in cash, subject to the priorities set forth in Section 13.212.2, and provided, further, that the Board shall in good faith attempt to liquidate sufficient Company assets to satisfy in cash (or make reasonable provision for) the debts and liabilities referred to in Section 13.212.2.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (McJunkin Red Man Holding Corp)

Distributions in Cash or in Kind. Upon the dissolution of the Company, the Board Managing Member shall use all commercially reasonable efforts to liquidate all of the Company’s Company assets in an orderly manner and apply the proceeds of such liquidation as set forth in Section 13.2; provided that15.2, if or if, in the good faith business judgment of the BoardManaging Member, a Company asset should not be liquidated, the Board Managing Member shall cause the Company to allocate, on the basis of the Fair Market Value of any Company assets not sold or otherwise disposed of, any unrealized gain or loss based on such value Value to the Members' Capital Accounts as though the assets in question had been sold on the date of distribution and, after giving effect to any such adjustment, distribute such said assets in accordance with the proportions set forth in Section 13.2 as if such Fair Market Value had been received in cash15.2, subject to the priorities set forth in Section 13.215.2, and provided, further, PROVIDED that the Board shall Managing Member shall, in good faith attempt faith, use all commercially reasonable efforts to liquidate sufficient Company assets to satisfy in cash (or make reasonable provision for) the debts and liabilities referred to in subsections (a) and (b) of Section 13.215.2.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Harbor Global Co LTD)

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