Liquidation and Termination. A. Upon the dissolution of the Company, the Officers and Managers of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with reasonable speed but with a view towards obtaining fair value for Company assets, and, after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, shall distribute the remaining assets to and among the Members in accordance with the provisions of Section 3.3 hereof.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (T-Mobile Puerto Rico Holdings LLC), Limited Liability Company Agreement (Suncom Wireless Property Co, L.L.C.), Limited Liability Company Agreement (Suncom Wireless Property Co, L.L.C.)
Liquidation and Termination. A. Upon the dissolution of the Company, the Officers and Managers of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with reasonable speed but with a view towards obtaining fair value for Company assets, and, after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, creditors shall distribute the remaining assets to and among the Class A Members in accordance with the provisions of Section 3.3 3.5 hereof.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Creditrust Corp), Limited Liability Company Agreement (Creditrust Corp), Limited Liability Company Agreement (Creditrust Corp)
Liquidation and Termination. A. Upon the dissolution of the Company, the Officers officers and Managers of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with by reasonable speed but with a view towards obtaining fair value for Company assets, and, after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, shall distribute the remaining assets to and among the Members in accordance with the provisions of Section 3.3 hereof.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Metropcs Networks California, LLC), Limited Liability Company Agreement (Suncom Wireless Property Co, L.L.C.), Limited Liability Company Agreement (Suncom Wireless Property Co, L.L.C.)
Liquidation and Termination. A. Upon the dissolution of the Company, the Officers and Managers Managing Member of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with reasonable speed but with a view towards obtaining fair value for Company assets, and, after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, shall distribute the remaining assets to and among the Members in accordance with the provisions of Section 3.3 hereofMembers.
Appears in 3 contracts
Samples: Operating Agreement (Laureate Ventures, Inc.), Operating Agreement (Laureate Ventures, Inc.), Operating Agreement (Laureate Ventures, Inc.)
Liquidation and Termination. A. (a) Upon the dissolution of the CompanyCompany , the Officers and Managers of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with reasonable speed but with a view towards obtaining fair value for Company the Company’s assets, and, after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, shall distribute the remaining assets to and among the Members in accordance with the provisions of Section 3.3 hereof.as follows:
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement (BioFuel Energy Corp.)
Liquidation and Termination. A. Upon the dissolution of the Company, the Officers and Board of Managers of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with reasonable speed but with a view towards obtaining fair value for Company assets, and, after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, shall distribute the remaining assets to and among the Members in accordance with the provisions of Section 3.3 hereofMembers.
Appears in 2 contracts
Samples: Operating Agreement (Laureate Ventures, Inc.), Operating Agreement (Laureate Ventures, Inc.)
Liquidation and Termination. A. (a) Upon the dissolution of the Company, the Officers and Managers of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with reasonable speed but with a view towards obtaining fair value for Company the Company’s assets, and, after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, shall distribute the remaining assets to and among the Members in accordance with the provisions of Section 3.3 hereof.as follows:
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement (BioFuel Energy Corp.)
Liquidation and Termination. A. Upon the dissolution of the Company, the Officers and Managers of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with reasonable speed but with a view towards obtaining fair value for Company assets, and, after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, creditors shall distribute the remaining assets to and among the Members in accordance with the provisions of Section 3.3 3.5 hereof.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Creditrust Corp)
Liquidation and Termination. A. Upon the dissolution of the Company, the Officers and Managers of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with reasonable speed but with a view towards obtaining fair value for Company assets, and, after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, shall distribute the remaining assets to and among the Members in accordance with the provisions of Section 3.3 3.4 hereof.
Appears in 1 contract
Samples: Operating Agreement (Ist, Corp)
Liquidation and Termination. A. Upon (a) Subject to Section 5.1(c)(xi), upon the dissolution of the Company, the Officers and Managers of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with reasonable speed but with a view towards obtaining fair value for Company the Company’s assets, and, after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, shall distribute the remaining assets to and among the Members in accordance with the provisions of Section 3.3 hereof.as follows: 32
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Liquidation and Termination. A. Upon (a) Subject to Section 5.1(c)(xi), upon the dissolution of the Company, the Officers and Managers of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with reasonable speed but with a view towards obtaining fair value for Company the Company’s assets, and, after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, shall distribute the remaining assets to and among the Members in accordance with the provisions of Section 3.3 hereof.as follows:
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Liquidation and Termination. A. Upon the dissolution of the Company, the Managers and Officers and Managers of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with reasonable speed but with a view towards obtaining fair value for Company company assets, and, after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, shall distribute the remaining assets to and among of the Members in accordance with the provisions of Section 3.3 hereofMember.
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Liquidation and Termination. A. Upon the dissolution of the Company, the Officers and Managers of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with reasonable speed but with a view towards obtaining fair -fair value for Company assets, and, after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, shall distribute the remaining assets to and among the Members Members, in accordance with the provisions of Section 3.3 4.4 hereof.
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Liquidation and Termination. A. Upon the dissolution of the Company, . the Officers and Managers Managing Member of the Company shall cause the Company to liquidate by converting the assets of the Company to cash or its equivalent and arranging for the affairs of the Company to be wound up with reasonable speed but with a view towards obtaining fair value for Company assets, and, . after satisfaction (whether by payment or by establishment of reserves therefor) of creditors, including Members who are creditors, shall distribute the remaining assets to and among the Members in accordance with the provisions of Section 3.3 hereofMembers.
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