Common use of Liquidation and Distribution of Assets Clause in Contracts

Liquidation and Distribution of Assets. Upon the dissolution of the Company, the Member, or court-appointed trustee, if there is no remaining Member, shall take full account of the Company’s liabilities and assets, and such assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. During the period of liquidation, the business and affairs of the Company shall continue to be governed by the provisions of this Agreement, with the management of the Company continuing as provided in Section 5 hereof. The proceeds from liquidation of the Company’s property, to the extent sufficient therefore, shall be applied and distributed in the following order:

Liquidation and Distribution of Assets. Upon the dissolution of the Company, the Member, or court-appointed trustee, if there is no remaining Member, shall take full account of the Company’s liabilities and assets, and such assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. During the period of liquidation, the business and affairs of the Company shall continue to be governed by the provisions of this Agreement, with the management of the Company continuing as provided in Section 5 hereof. The proceeds from liquidation of the Company’s property, to the extent sufficient thereforetherefor, shall be applied and distributed in the following order:

Liquidation and Distribution of Assets. Upon the dissolution of the Company, the Memberremaining Member(s), or court-appointed trustee, if there is are no remaining MemberMembers, shall take full account of the Company’s liabilities and assets, and such assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. During the period of liquidation, the business and affairs of the Company shall continue to be governed by the provisions of this Agreement, with the management of the Company continuing as provided in Section 5 hereof. The proceeds from liquidation of the Company’s property, to the extent sufficient thereforetherefor, shall be applied and distributed in the following order:

Liquidation and Distribution of Assets. Upon the dissolution of the Company, the Member, or court-appointed trustee, if there is no remaining Member, Managing Member shall take full account of the Company’s liabilities and assets, and, subject in all respects to Major Decisions, the Approved Budget and the other provisions of this Agreement, such assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. During the period of liquidation, the business and affairs of the Company shall continue to be governed by the provisions of this Agreement, with the management of the Company continuing as provided in Section 5 6.1 hereof. The proceeds from liquidation of the Company’s propertyCompany Assets, to the extent sufficient thereforetherefor, shall be applied combined and distributed in the following order:

Liquidation and Distribution of Assets. Upon the dissolution of the Company, the MemberManager, or, if there is no Manager, the remaining Member(s), or court-a court appointed trustee, trustee if there is no remaining Member, shall take full account of the Company’s liabilities and assets, and such assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. thereof During the period of liquidation, the business and affairs of the Company shall continue to be governed by the provisions of this Agreement, with the management of the Company continuing as provided in Section 5 hereof. The proceeds from liquidation of the Company’s property, to the extent sufficient therefore, shall be applied and distributed in the following order:

Liquidation and Distribution of Assets. Upon the dissolution of the Company, the Memberremaining Member(s), or a court-appointed trustee, if there is no remaining Member, shall take full account of the Company’s 's liabilities and assets, and such assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. During the period of liquidation, the business and affairs of the Company shall continue to be governed by the provisions of this Agreement, with the management of the Company continuing as provided in Section 5 hereof. The 31 proceeds from liquidation of the Company’s 's property, to the extent sufficient thereforetherefor, shall be applied and distributed in the following order:

Liquidation and Distribution of Assets. Upon the dissolution of the Company, the MemberManager, or if there is no Manager, the remaining Member(s), or court-appointed trustee, if there is no remaining Member, shall take full account of the Company’s liabilities and assets, and such assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. During the period of liquidation, the business and affairs of the Company shall continue to be governed by the provisions of this Agreement, with the management of the Company continuing as provided in Section 5 hereof. The proceeds from liquidation of the Company’s property, to the extent sufficient thereforetherefor, shall be applied and distributed in the following orderorder of priority:

Liquidation and Distribution of Assets. Upon the dissolution of the Company, the Memberremaining Member(s), or a court-appointed trustee, if there is no remaining Member, shall take full account of the Company’s 's liabilities and assets, and such assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. During the period of liquidation, the business and affairs of the Company shall continue to be governed by the provisions of this Agreement, with the management of the Company continuing as provided in Section 5 hereof. The proceeds from liquidation of the Company’s 's property, to the extent sufficient thereforetherefor, shall be applied and distributed in the following order:

Liquidation and Distribution of Assets. Upon the dissolution of the CompanyCompany for any reason other then the exercise of Voluntary Termination Rights, the Managing Member, or, if there is no Managing Member (acting at the direction of the Executive Committee), or court-a court appointed trustee, if there is no remaining Member, shall take full account of the Company’s 's liabilities and assets, and such assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. During the period of liquidation, the business and affairs of the Company shall continue to be governed by the provisions of this Agreement, with the management of the Company continuing as provided in Section 5 hereof5. The proceeds from liquidation of the Company’s 's property, to the extent sufficient thereforetherefor, shall be applied and distributed in the following order:

Liquidation and Distribution of Assets. Upon the dissolution of the Company, the Member, or courtCourt-appointed trustee, if there is no remaining Member, shall take full account of the Company’s liabilities and assets, and such assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. During the period of liquidation, the business and affairs of the Company shall continue to be governed by the provisions of this Agreement, with the management of the Company continuing as provided in Section 5 hereof. The proceeds from liquidation of the Company’s property, to the extent sufficient therefore, shall be applied and distributed in the following order:

Liquidation and Distribution of Assets. Upon the dissolution of the Company, the Member, Member (or court-appointed trustee, trustee if there is no remaining Member), shall take full account of the Company’s liabilities and assets, and such assets shall be liquidated as promptly as is consistent with obtaining the fair value thereof. During the period of liquidation, the business and affairs of the Company shall continue to be governed by the provisions of this Agreement, with the management of the Company continuing as provided in Section 5 hereofabove. The proceeds from liquidation of the Company’s property, to the extent sufficient thereforetherefor, shall be applied and distributed in the following order: