Common use of Liquidation and Termination Clause in Contracts

Liquidation and Termination. On dissolution of the Company, the Board of Managers shall proceed diligently to wind up the affairs of the Company and make any final distribution as provided in this Operating Agreement and the Act. The costs of liquidation shall be borne as a Company expense. Liquidation proceeds, if any, shall first be used to pay the Company’s obligations and liabilities.

Liquidation and Termination. On dissolution of the Company, the Board of Managers Managing Member shall proceed diligently to wind up the affairs of the Company and make any final distribution distributions as provided herein and in this Operating Agreement and the Act. The costs proceeds of the liquidation shall be borne as a Company expense. Liquidation proceeds, if any, shall first be used to pay applied and distributed in the Company’s obligations and liabilities.following order:

Liquidation and Termination. On dissolution of the Company, the Board of Managers Managing Member shall proceed diligently to wind up the affairs of the Company and make any final distribution distributions as provided herein and in this Operating Agreement and the LLC Act. The costs proceeds of the liquidation shall be borne as a Company expense. Liquidation proceeds, if any, shall first be used to pay applied and distributed in the Company’s obligations and liabilities.following order:

Liquidation and Termination. On dissolution termination of the Company, the Board of Managers Members shall proceed diligently to wind up the affairs of the Company and make any final distribution as provided in this Operating Agreement and the Act. The costs of liquidation shall be borne as a Company expense. Liquidation proceeds, if any, shall first be used to pay the Company’s obligations and liabilities.

Liquidation and Termination. On dissolution of the Company, the Board of Managers shall proceed diligently to wind up the affairs of the Company and make any final distribution as provided in this Operating Agreement and the Act. The costs of liquidation shall be borne as a Company expense. Liquidation proceeds, if any, shall first be used to pay the Company’s obligations and liabilities.

Liquidation and Termination. On dissolution of the Company, the Board of Managers Managing Member shall proceed diligently to wind Wind up the affairs of the Company and make any final distribution distributions as provided herein and in this Operating Agreement and the Act. The costs proceeds of the liquidation shall be borne as a Company expense. Liquidation proceeds, if any, shall first be used to pay applied and distributed in the Company’s obligations and liabilities.following order:

Liquidation and Termination. On dissolution of the Company, the Board of Managers Managing Member shall proceed procced diligently to wind up the affairs of the Company and make any final distribution distributions as provided herein and in this Operating Agreement and the LLC Act. The costs proceeds of the liquidation shall be borne as a Company expense. Liquidation proceeds, if any, shall first be used to pay applied and distributed in the Company’s obligations and liabilities.following order: