Method of Liquidation. Upon the happening of any of the events specified in Section 7.1, the Company shall continue solely for the purpose of winding up its affairs liquidating its assets, and satisfying the claims of its creditors and Members. The Board of Directors shall be responsible for overseeing the winding up and liquidation of the Company. In the course of winding up its affairs, any of the Company’s assets may be sold upon the consent of the Board of Directors, and any proceeds derived from any such sale, together with all assets that are not sold, shall be applied and distributed in the following manner and in the following order of priority:
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Triad of Oregon, LLC), Limited Liability Company Agreement (Community Health Investment CORP), Limited Liability Company Agreement (Community Health Investment CORP)
Method of Liquidation. Upon the happening of any of the events specified in Section 7.19.1, the Company shall continue solely for the purpose of winding up its affairs affairs, liquidating its assets, and satisfying the claims of its creditors and Members. The Board of Directors shall be responsible for overseeing the winding up and liquidation of the Company. In the course of winding up its affairs, any of the Company’s 's assets may be sold upon the consent of the Board of Directors, and any proceeds derived from any such sale, together with all assets that are not sold, shall be applied and distributed in the following manner and in the following order of priority:
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Quorum Health Group Inc), Limited Liability Company Agreement (Quorum Health Group Inc)
Method of Liquidation. Upon the happening of any of the events specified in Section 7.18.1, the Company shall continue solely for the purpose of winding up its affairs liquidating its assets, and satisfying the claims of its creditors and Members. The Board of Directors shall be responsible for overseeing the winding up and liquidation of the Company. In the course of winding up its affairs, any of the Company’s assets may be sold upon the consent of the Board of Directors, and any proceeds derived from any such sale, together with all assets that are not sold, shall be applied and distributed in the following manner and in the following order of priority:
Appears in 1 contract
Samples: Limited Liability Company Agreement (Community Health Investment CORP)
Method of Liquidation. Upon the happening of any of the events specified in Section 7.110.1, the Company shall continue solely for the purpose of winding up its affairs liquidating its assets, and satisfying the claims of its creditors and Members. The Board of Directors shall be responsible for overseeing the winding up and liquidation of the Company. In the course of winding up its affairs, any of the Company’s assets may be sold upon the consent of the Board of Directors, and any proceeds derived from any such sale, together with all assets that are not sold, shall be applied and distributed in the following manner and in the following order of priority:
Appears in 1 contract
Samples: Limited Liability Company Agreement (Longview Clinic Operations Company, LLC)
