Common use of Deferral of Liquidation Clause in Contracts

Deferral of Liquidation. If the liquidator determines that an immediate sale of part or all of the Company's assets would cause undue loss to the Member, the liquidator may, to avoid the loss, either: (i) defer the liquidation of, and withhold from distribution for a reasonable time, any assets of the Company except those necessary to satisfy debts and liabilities of the Company (other than debts or liabilities to the Member); or (ii) distribute to the Member, in lieu of cash, the Company assets, and liquidate only those assets that are necessary to pay the debts and liabilities of the Company.

Deferral of Liquidation. If the liquidator determines that an immediate sale of part or all of the CompanyPartnership's assets would cause undue loss to the MemberPartners, the liquidator may, to avoid the loss, either: (i) defer the liquidation of, and withhold from distribution for a reasonable time, any assets of the Company Partnership except those necessary to satisfy debts and liabilities of the Company Partnership (other than debts or liabilities to the MemberPartners); or (ii) distribute to the Member, in lieu of cash, the Company assets, and liquidate only those assets that are necessary to pay the debts and liabilities of the Company.