Common use of Work in Progress Clause in Contracts

Work in Progress. If the Company is dissolved for any reason while there is development or construction work in progress, winding up of the affairs and termination of the business of the Company may include completion of the work in progress to the extent the Members or Non- Defaulter, as the case may be, may determine same to be necessary to permit a sale or other disposition of the Project which is most beneficial to the Members.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Chelsea Gca Realty Partnership Lp), Limited Liability Company Agreement (Chelsea Gca Realty Inc)

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Work in Progress. If the Company is dissolved for any reason while there is development or construction work in progress, winding up of the affairs and termination of the business of the Company may include completion of the work in progress to the extent the Members or Non- Defaulter, as Parties who have not defaulted under their obligations under the case may beAgreement, may determine the same to be necessary to permit a sale or other disposition of the Project Projects which is most beneficial to the MembersParties.

Appears in 2 contracts

Samples: Joint Venture Agreement (Chelsea Gca Realty Partnership Lp), Joint Venture Agreement (Chelsea Gca Realty Inc)

Work in Progress. If the Company is dissolved for any reason while there is development or construction work in progress, winding up of the affairs and termination of the business of the Company may include completion of the work in progress to the extent the Members or Non- Defaulternon-defaulting Member, as the case may be, may determine same to be necessary to permit a sale or other disposition of the Project which is most beneficial to the Members.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Chelsea Gca Realty Inc)

Work in Progress. If the Company is dissolved for any reason while there is work in progress on the development or construction work in progressof the Project or otherwise with respect to the Property, winding up of the affairs and termination of the business of the Company may include completion of the work in progress to the extent as the Members or Non- Defaulter, as the case may be, may determine same to be necessary to bring the matters under construction to a state of completion convenient to permit a sale or other disposition of the Project which is most beneficial to the MembersCompany's interest in such work.

Appears in 1 contract

Samples: Operating Agreement (HMG Courtland Properties Inc)

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Work in Progress. If the Company is dissolved for any reason while there is development or construction work in progress, winding up of the affairs and termination of the business of the Company may include completion of the work in progress to the extent the Members or Non- Defaulternon-defaulting Member, as the case may be, may determine the same to be necessary to permit a sale or other disposition of the Project Property which is most beneficial to the Members.

Appears in 1 contract

Samples: Limited Liability Company Agreement (CNL Hospitality Properties Inc)

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