Common use of Order of Payment of Liabilities Upon Dissolution Clause in Contracts

Order of Payment of Liabilities Upon Dissolution. A. After determining that all known debts and liabilities of the Company in the process of winding-up, including, without limitation, debts and liabilities to Members who are creditors of the Company, have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive Capital Account balances, after taking into account income and loss allocations for the Company’s taxable year during which liquidation occurs. Such liquidating distributions shall be made by the end of the Company’s taxable year in which the Company is liquidated, or, if later, within ninety (90) days after the date of such liquidation.

Order of Payment of Liabilities Upon Dissolution. A. After determining that all the known debts and liabilities of the Company in the process of winding-upCompany, including, without limitation, including debts and liabilities to Members who are creditors of the Company, have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive Capital Account capital account balances, after taking into account income and loss allocations for the Company’s 's taxable year during which liquidation occurs. Such liquidating distributions shall be made by the end of the Company’s 's taxable year in which the Company is liquidated, or, or if later, within ninety (90) days after the date of such liquidation.

Order of Payment of Liabilities Upon Dissolution. A. After determining that all known debts and liabilities of the Company in the process of winding-winding- up, including, without limitation, debts and liabilities to Members who are creditors of the Company, have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive Capital Account balancesArticle 5, after taking into account income and loss allocations for the Company’s 's taxable year during which liquidation occurs. Such liquidating distributions shall be made by the end of the Company’s 's taxable year in which the Company is liquidated, or, if later, within ninety (90) days after the date of such liquidation.