Winding Up. On the dissolution of the Company (if the Company is not continued), the Members must take full account of the Company's assets and liabilities, and the assets will be liquidated as promptly as is consistent with obtaining their fair value, and the proceeds, to the extent sufficient to pay the Company's obligations with respect to the liquidation, will be applied and distributed, after any gain or loss realized in connection with the liquidation has been allocated in accordance with Section 3 of this Agreement, and the Members' Capital Accounts have been adjusted to reflect the allocation and all other transactions through the date of the distribution, in the following order:
Appears in 222 contracts
Samples: Multi Member Operating Agreement, Limited Liability Company Operating Agreement (Sibannac, Inc.), Limited Liability Company Operating Agreement
Winding Up. On the dissolution of the Company (if the Company is not continued), the Members Member Manager must take full account of the Company's assets and liabilities, and the assets will be liquidated as promptly as is consistent with obtaining their fair value, and the proceeds, to the extent sufficient to pay the Company's obligations with respect to the liquidation, will be applied and distributed, after any gain or loss realized in connection with the liquidation has been allocated in accordance with Section 3 of this Agreement, and the Members' Capital Accounts have been adjusted to reflect the allocation and all other transactions through the date of the distribution, in the following order:
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
Winding Up. On Upon the dissolution of the Company (if the Company is not continued)Company, the Members must Manager will take full account of the Company's assets and liabilities, and the assets will be liquidated as promptly as is consistent with obtaining their the fair valuemarket value of the assets, and the proceeds, to the extent sufficient to pay the Company's obligations with respect to the such liquidation, will be applied and distributeddistributed in the following order, after any gain or loss realized in connection with the liquidation has been allocated in accordance with Section 3 of this Agreement, and the Members' Capital Accounts have been adjusted to reflect the such allocation and all other transactions through the date of the such distribution, in the following order:
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
Winding Up. On the dissolution of the Company (if If the Company is not continued)continued upon its dissolution, the Members members must take full account of the Company's assets and liabilities, and the . Such assets will then be liquidated as promptly as is consistent with obtaining their fair value, and the proceeds, to the extent sufficient to pay the Company's obligations with respect to the liquidation, will be applied and distributed, after any gain or loss realized in connection with the liquidation has been allocated in accordance with Section 3 of this Agreement, and the Members' Capital Accounts have been adjusted to reflect the allocation and all other transactions through the date of the distribution, in the following order:.
Appears in 1 contract
Winding Up. On the dissolution of the Company (if the Company is not continued), the Members must take full account of the Company's ’s assets and liabilities, and the assets will be liquidated as promptly as is consistent with obtaining their fair value, and the proceeds, to the extent sufficient to pay the Company's ’s obligations with respect to the liquidation, will be applied and distributed, after any gain or loss realized in connection with the liquidation has been allocated in accordance with Section 3 of this Agreement, and the Members' ’ Capital Accounts have been adjusted to reflect the allocation and all other transactions through the date of the distribution, in the following order:
Appears in 1 contract
Winding Up. On the dissolution of the Company (if the Company is not continued), the Members Manager must take full account of the Company's assets and liabilities, and the assets will be liquidated as promptly as is consistent with obtaining their fair value, and the proceeds, to the extent sufficient to pay the Company's obligations with respect to the liquidation, will be applied and distributed, after any gain or loss realized in connection with the liquidation has been allocated in accordance with Section 3 of this Agreement, and the Members' Capital Accounts have been adjusted to reflect the allocation and all other transactions through the date of the distribution, in the following order:
Appears in 1 contract
Samples: Holdings, LLC Operating Agreement
Winding Up. On Upon the dissolution of the Company (if the Company is not continued)Company, the Members must Manager will take full account of the Company's assets and liabilities, and the assets will be liquidated as promptly as is consistent with obtaining their the fair valuemarket value of the assets, and the proceeds, to the extent sufficient to pay the Company's obligations with respect to the such liquidation, will be applied and distributeddistributed in the following order, after any gain or loss realized in connection with the liquidation has been allocated in accordance with Section 3 of this Agreement, and the Members' Capital Accounts have been adjusted to reflect the such allocation and all other transactions through the date of such distribution: To payment and discharge of the distribution, expenses of liquidation and of all the Company's debts and liabilities to creditors including Members and former Members; and To the Members in the following order:accordance with Section 3.3.
Appears in 1 contract
Samples: Operating Agreement
Winding Up. On the dissolution of the Company (if the Company is not continued)Company, the Members must take full account of the Company's ’s assets and liabilities, and the assets will be liquidated as promptly as is consistent with obtaining their fair value, and the proceeds, to the extent sufficient to pay the Company's ’s obligations with respect to the liquidation, will be applied and distributed, after any gain or loss realized in connection with the liquidation has been allocated in accordance with Section 3 of this Agreement, and the Members' Capital Accounts ’ capital accounts have been adjusted to reflect the allocation and all other transactions through the date of the distribution, in the following order:
Appears in 1 contract
Samples: Operating Agreement
Winding Up. On the dissolution of the Company (if the Company is not continued), the Members Member(s) must take full account of the Company's assets and liabilities, and the assets will be liquidated as promptly as is consistent with obtaining their fair value, and the proceeds, to the extent sufficient to pay the Company's obligations with respect to the liquidation, will be applied and distributed, after any gain or loss realized in connection with the liquidation has been allocated in accordance with Section 3 of this Agreement, and the Members' Capital Accounts have been adjusted to reflect the allocation and all other transactions through the date of the distribution, in the following order:
Appears in 1 contract
Samples: Operating Agreement
Winding Up. On the dissolution of the Company (if the Company is not continued), the Members must take full account of the Company's ’s assets and liabilities, and the assets will be liquidated as promptly as is consistent with obtaining their fair value, and the proceeds, to the extent sufficient to pay the Company's ’s obligations with respect to the liquidation, will be applied and distributed, after any gain or loss realized in connection with the liquidation has been allocated in accordance with Section 3 Exhibit 2 of this Agreement, and the Members' Capital ’ capital Accounts have been adjusted to reflect the allocation and all other transactions through the date of the distribution, in the following order:
Appears in 1 contract
Samples: Operating Agreement