{"component": "clause", "props": {"groups": [{"size": 18, "snippet": "Notwithstanding Section 3.05 of the Indenture, in the event of any liquidation, dissolution or winding up of the Company, either voluntary or involuntary, the holders of Series A Notes shall be entitled to receive, prior and in preference to any distribution of any of the assets of the Company to the holders of Common Shares, preferred stock, indebtedness issued upon the conversion of any preferred stock or Subordinated Debt of the Company by reason of their ownership thereof, an amount per share equal to $45,000,000 plus all accrued and unpaid interest thereon to the date of liquidation, less any principal amount prepaid by the Company.", "snippet_links": [{"key": "notwithstanding-section", "type": "clause", "offset": [0, 23]}, {"key": "the-indenture", "type": "clause", "offset": [32, 45]}, {"key": "in-the-event-of", "type": "definition", "offset": [47, 62]}, {"key": "winding-up-of-the-company", "type": "clause", "offset": [95, 120]}, {"key": "voluntary-or-involuntary", "type": "clause", "offset": [129, 153]}, {"key": "series-a-notes", "type": "clause", "offset": [170, 184]}, {"key": "to-receive", "type": "definition", "offset": [203, 213]}, {"key": "distribution-of", "type": "clause", "offset": [246, 261]}, {"key": "assets-of-the-company", "type": "definition", "offset": [273, 294]}, {"key": "holders-of-common-shares", "type": "clause", "offset": [302, 326]}, {"key": "preferred-stock", "type": "definition", "offset": [328, 343]}, {"key": "conversion-of", "type": "clause", "offset": [374, 387]}, {"key": "debt-of-the-company", "type": "clause", "offset": [424, 443]}, {"key": "equal-to", "type": "definition", "offset": [502, 510]}, {"key": "accrued-and-unpaid-interest", "type": "definition", "offset": [532, 559]}, {"key": "date-of-liquidation", "type": "clause", "offset": [575, 594]}, {"key": "principal-amount", "type": "definition", "offset": [605, 621]}, {"key": "by-the-company", "type": "clause", "offset": [630, 644]}], "samples": [{"hash": "eLehqtpaOJI", "uri": "/contracts/eLehqtpaOJI#liquidation-amount", "label": "Indenture (Flag Telecom Holdings LTD)", "score": 18.0, "published": true}, {"hash": "eB6iGd0qUSf", "uri": "/contracts/eB6iGd0qUSf#liquidation-amount", "label": "Indenture (Flag Telecom Holdings LTD)", "score": 18.0, "published": true}, {"hash": "1GYRYrZsZV6", "uri": "/contracts/1GYRYrZsZV6#liquidation-amount", "label": "Indenture (Flag Telecom Holdings LTD)", "score": 18.0, "published": true}], "hash": "ae1c80327a91a8994a541ce2048d2988", "id": 2}, {"size": 24, "snippet": "Upon the occurrence of a Liquidation Date:", "snippet_links": [{"key": "liquidation-date", "type": "definition", "offset": [25, 41]}], "samples": [{"hash": "ks65nXmWQ5Q", "uri": "/contracts/ks65nXmWQ5Q#liquidation-amount", "label": "Client Agreement", "score": 34.7286491394, "published": true}, {"hash": "7BAxqfYuV0X", "uri": "/contracts/7BAxqfYuV0X#liquidation-amount", "label": "Client Service Agreement", "score": 33.1360015869, "published": true}, {"hash": "i3uxNzDtUPp", "uri": "/contracts/i3uxNzDtUPp#liquidation-amount", "label": "Retail Client Agreement", "score": 33.0745277405, "published": true}], "hash": "0c7c0dc612499c7b7b255966bfa65d24", "id": 1}, {"size": 10, "snippet": "(a) Upon any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company (referred to herein as a \u201cliquidation\u201d), the holders of the Preferred Units will be entitled to be paid out of the assets of the Company legally available for distribution to its unitholders liquidating distributions, in cash, in the amount of $100,000 per unit multiplied by the number of outstanding Preferred Units (the \u201cLiquidation Amount\u201d), plus an amount equal to any accumulated and unpaid Current Distributions to the date of such liquidation, before any distribution or payment is made to holders of Common Units or any other equity securities of the Company ranking junior to the Preferred Units as to the distribution of assets upon a liquidation. After payment of the full amount of the liquidating distributions to which they are entitled, the holders of Preferred Units will have no right or claim to any of the remaining assets of the Company.\n(b) In the event that, upon any liquidation of the Company, the available assets of the Company are insufficient to pay the amount of the liquidating distributions on all outstanding Preferred Units, plus an amount equal to any accumulated and unpaid Current Distributions to the date of such liquidation and the corresponding amounts payable on all other equity securities of the Company ranking on a parity with Preferred Units in the distribution of assets upon a liquidation, then the holders of Preferred Units and all other such equity securities of the Company ranking on a parity with Preferred Units shall share ratably in any such distribution of assets in proportion to the full liquidating distributions per unit to which they would otherwise be respectively entitled.\n(c) The consolidation or merger of the Company with or into any other entity, or the merger of another entity with or into the Company, or a statutory unit exchange by the Company, or the sale, lease or conveyance of all or substantially all of the property or business of the Company, shall be deemed to constitute a liquidation of the Company.\n(d) The Liquidation Amount of the outstanding Preferred Units will not be added to the liabilities of the Company for the purpose of determining whether under the Delaware Revised Uniform Limited Liability Company Act a distribution may be made to unitholders of the Company whose preferential rights upon dissolution of the Company are junior to those of holders of Preferred Units. 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Trust Securities Certificates bearing the manual or facsimile signatures of individuals who were, at the time when such signatures shall have been affixed, authorized to sign on behalf of the Trust, shall be validly issued and entitled to the benefits of this Declaration of Trust, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the delivery of such Trust Securities Certificates or did not hold such offices at the date of delivery of such Trust Securities Certificates. A transferee of a Trust Securities Certificate shall become a Securityholder, and shall be entitled to the rights and subject to the obligations of a Securityholder hereunder, upon due registration of such Trust Securities Certificate in such transferee's name pursuant to Sections 5.04, 5.05 and 5.06.", "snippet_links": [{"key": "the-trust-securities-certificates", "type": "clause", "offset": [0, 33]}, {"key": "of-the-trust", "type": "clause", "offset": [62, 74]}, {"key": "the-manual", "type": "clause", "offset": [78, 88]}, {"key": "signature-of", "type": "definition", "offset": [102, 114]}, {"key": "administrative-trustee", "type": "definition", "offset": [128, 150]}, {"key": "facsimile-signatures", "type": "clause", "offset": [204, 224]}, {"key": "at-the-time", "type": "definition", "offset": [250, 261]}, {"key": "sign-on", "type": "definition", "offset": [322, 329]}, {"key": "validly-issued", "type": "clause", "offset": [360, 374]}, {"key": "declaration-of-trust", "type": "clause", 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After setting apart or paying in full the preferential amounts due the holders of record of the issued and outstanding Preferred Stock, the Corporation\u2019s remaining assets available for distribution, if any, shall be distributed exclusively to the holders of record of the issued and outstanding Common Stock. If upon the event of any such liquidation, dissolution or winding up of the Corporation, either voluntary or involuntary (except for a \u201cLiquidity Event\u201d), the assets of the Corporation available for distribution to its shareholders shall be insufficient to pay the holders of the Preferred Stock the full amounts to which they respectively shall be entitled pursuant to this Section 3(a), the holders of the Preferred Stock shall share ratably in any distribution of assets according to the respective amounts which would be payable in respect of the shares then held by them upon such distribution if all amounts on or with respect to such shares of Preferred Stock were paid in full.", "snippet_links": [{"key": "in-the-event-of", "type": "definition", "offset": [0, 15]}, {"key": "dissolution-or-winding-up", "type": "clause", "offset": [33, 58]}, {"key": "shares-of-preferred-stock", "type": "clause", "offset": [94, 119]}, {"key": "assets-of-the-corporation", "type": "clause", "offset": [177, 202]}, {"key": "available-for-distribution", "type": "definition", "offset": [203, 229]}, {"key": "in-respect-of", "type": "definition", "offset": [284, 297]}, {"key": "original-issue-price", "type": "definition", "offset": [316, 336]}, {"key": "accrued-and-unpaid-dividends", "type": "clause", "offset": [399, 427]}, {"key": "paying-in-full", "type": "definition", "offset": [495, 509]}, {"key": "amounts-due", "type": "definition", "offset": [527, 538]}, {"key": "record-of", "type": "clause", "offset": [554, 563]}, {"key": "outstanding-preferred-stock", "type": "clause", "offset": [579, 606]}, {"key": "remaining-assets", "type": "definition", "offset": [626, 642]}, {"key": "outstanding-common-stock", "type": "clause", "offset": [755, 779]}, {"key": "voluntary-or-involuntary", "type": "clause", "offset": [877, 901]}, {"key": "liquidity-event", "type": "definition", "offset": [917, 932]}, {"key": "to-pay", "type": "clause", "offset": [1035, 1041]}, {"key": "the-preferred-stock", "type": "clause", "offset": [1057, 1076]}, {"key": "pursuant-to", "type": "clause", "offset": [1139, 1150]}, {"key": "stock-shall", "type": "definition", "offset": [1199, 1210]}, {"key": "distribution-of-assets", "type": "definition", "offset": [1232, 1254]}, {"key": "according-to", "type": "definition", "offset": [1255, 1267]}, {"key": "the-shares", "type": "clause", "offset": [1328, 1338]}, {"key": "with-respect-to", "type": "clause", "offset": [1401, 1416]}, {"key": "paid-in-full", "type": "clause", "offset": [1453, 1465]}], "samples": [{"hash": "5BHCs9FFSo4", "uri": "/contracts/5BHCs9FFSo4#liquidation-amount", "label": "Stock Purchase Agreement (CAI International, Inc.)", "score": 21.0, "published": true}, {"hash": "1qbzieHBe9a", "uri": "/contracts/1qbzieHBe9a#liquidation-amount", "label": "Stock Purchase Agreement (CAI International, Inc.)", "score": 21.0, "published": true}], "hash": "895411d9dbd36f2a67e3ad49f7bcc961", "id": 10}], "next_curs": "ClsSVWoVc35sYXdpbnNpZGVyY29udHJhY3RzcjcLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhtsaXF1aWRhdGlvbi1hbW91bnQjMDAwMDAwMGEMogECZW4YACAA", "clause": {"parents": [["liquidation", "Liquidation"], ["further-assurances", "Further Assurances"], ["general", "General"], ["continuation-of-partnership-agreement", "Continuation of Partnership Agreement"], ["miscellaneous", "Miscellaneous"]], "size": 75, "children": [["", ""], ["prohibition-on-optional-redemption", "PROHIBITION ON OPTIONAL REDEMPTION"], ["annual-statement-concerning-compliance-with-covenants", "ANNUAL STATEMENT CONCERNING COMPLIANCE WITH COVENANTS"], ["notice-of-redemption", "NOTICE OF REDEMPTION"], ["restrictions-on-consolidation-merger-sale-etc", "RESTRICTIONS ON CONSOLIDATION, MERGER, SALE, ETC"]], "title": "Liquidation Amount", "id": "liquidation-amount", "related": [["liquidation-preference", "Liquidation Preference", "Liquidation Preference"], ["liquidation-value", "Liquidation Value", "Liquidation Value"], ["liquidation-etc", "Liquidation etc", "Liquidation etc"], ["original-class-b-principal-balance", "Original Class B Principal Balance", "Original Class B Principal Balance"], ["liquidation-distributions", "Liquidation Distributions", "Liquidation Distributions"]], "related_snippets": [], "updated": "2026-08-01T04:26:20+00:00", "also_ask": ["What factors determine a commercially reasonable liquidation amount in this context?", "How can the clause be drafted to withstand challenges as an unenforceable penalty?", "What negotiation leverage does the liquidation amount provide to each party?", "How does this clause compare to statutory or common law damages provisions?", "What are the most common pitfalls or fatal flaws courts find in liquidation amount clauses?"], "drafting_tip": "Specify the calculation method, define triggering events, and clarify payment timing to ensure certainty, prevent disputes, and facilitate prompt enforcement.", "explanation": "The Liquidation Amount clause defines the sum payable by a party upon the occurrence of a specified event, such as default or early termination of an agreement. Typically, this amount is calculated based on the value of outstanding obligations, market quotations, or a pre-agreed formula, and may include adjustments for costs, losses, or gains resulting from the event. Its core function is to provide a clear and predetermined method for settling financial obligations, thereby reducing uncertainty and potential disputes between parties in the event of contract termination or default."}, "json": true, "cursor": ""}}