Liquidating Proceeds. Notwithstanding any other provisions of this Agreement to the contrary, when there is a distribution in liquidation of the Company, or when any Member’s interest is liquidated, all items of income and loss first shall be allocated to the Members’ Capital Accounts under this Article 4.0, and other credits and deductions to the Members’ Capital Accounts shall be made before the final distribution is made. The final distribution to the Members shall be made as provided in Section 9.2 below. The provisions of this Section 4.7 and Section 9.2 shall be construed in accordance with the requirements of Reg. section 1.704-1(b)(2)(ii)(b)(2).
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Sources: Limited Liability Company Agreement (American Sierra Gold Corp.), Limited Liability Company Agreement (American Sierra Gold Corp.)
Liquidating Proceeds. Notwithstanding any other provisions of this Agreement to the contrary, when there is a distribution in liquidation of the Company, or when any Member’s interest is liquidated, all items of income and loss first shall be allocated to the Members’ Capital Accounts under this Article 4.0IV, and other credits and deductions to the Members’ Capital Accounts shall be made before the final distribution is made. The final distribution to the Members shall be made as provided in Article IX, Section 9.2 below9.2(d) of this Agreement. The provisions of this Section 4.7 4.15 and Article IX, Section 9.2 9.2(d) shall be construed in accordance with the requirements of Reg. Reg section 1.704-1(b)(2)(ii)(b)(2).
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