Winding Up; Termination. Upon a dissolution of the LLC, the Managers, or, if there are no Managers, a court appointed liquidating trustee, shall take full account of the LLC’s assets and liabilities and wind up the affairs of the LLC. The Persons charged with winding up the LLC shall settle and close the LLC’s business, and dispose of and convey the LLC’s noncash assets as promptly as reasonably possible following dissolution as is consistent with obtaining the fair market value for the LLC’s assets.
Appears in 4 contracts
Samples: Operating Agreement, Operating Agreement (Where Food Comes From, Inc.), Operating Agreement (Where Food Comes From, Inc.)
Winding Up; Termination. Upon a the dissolution of the LLC, the Managers, or, if there are no Managers, a court liquidating trustee appointed liquidating trusteeby the Xxxxxxxx Member, shall take full account of the LLC’s assets and liabilities and wind up the affairs of the LLC. The Persons charged with winding up the LLC shall settle and close the LLC’s business, and dispose of and convey the LLC’s noncash assets as promptly as reasonably possible following dissolution as is consistent with obtaining the fair market value for the LLC’s assets.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Sinclair Broadcast Group Inc)
