Procedures Upon Dissolution. Upon dissolution of the Company, the Company shall be terminated, and the Manager, or if there is no Manager, such other Person(s) appointed in accordance with applicable law to wind up the Company’s affairs (the “Liquidator(s)”) shall liquidate the assets of the Company as promptly as possible, but in an orderly and businesslike manner so as to not involve undue sacrifice. The proceeds of liquidation shall be applied and distributed in the following order of priority:
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Iconic Brands, Inc.), Limited Liability Company Agreement (Iconic Brands, Inc.)
Procedures Upon Dissolution. Upon dissolution of the Company, the Company shall be terminated, and the ManagerManagers, or if there is are no ManagerManagers, such other Person(s) appointed in accordance with applicable law to wind up the Company’s affairs (the “Liquidator(s)”) shall liquidate the assets of the Company as promptly as possible, but in an orderly and businesslike manner so as to not involve undue sacrifice. ., The proceeds of liquidation shall be applied and distributed in the following order of priority:
Appears in 2 contracts
Samples: Operating Agreement (NewBridge Global Ventures, Inc.), Operating Agreement (NewBridge Global Ventures, Inc.)
Procedures Upon Dissolution. Upon dissolution of the Company, the Company shall be terminated, and the Manager, or if there is no Manager, such other Person(s) appointed in accordance with applicable law to wind up the Company’s affairs (the “Liquidator(s)”) Managers shall liquidate the assets of the Company as promptly as possible, but in an orderly and businesslike manner so as to not involve avoid undue sacrifice. The proceeds of liquidation shall be applied and distributed in the following order of priority:
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Vector Research LLC)
