Common use of Distribution of Assets Upon Dissolution Clause in Contracts

Distribution of Assets Upon Dissolution. In settling the accounts of the Company after its dissolution, the assets of the Company shall be applied and distributed in the following order of priority: (a) first, to the extent permitted by applicable law, and in accordance with the priorities, if any, established by applicable law, to creditors in satisfaction of liabilities of the Company, including liabilities of the Company to its Sole Member as a creditor (other than for distributions and Capital Contributions), whether by payment or establishment of reserves; and (b) second, to the Sole Member.

Distribution of Assets Upon Dissolution. In settling the accounts of the Company after its dissolution, the assets of the Company shall will be applied and distributed in the following order of priority: (a) firstFirst, to the extent permitted by applicable law, and in accordance with the priorities, if any, established by applicable law, to creditors in satisfaction of liabilities of the Company, including liabilities of the Company to its Sole Member as a creditor (other than for distributions and Capital Contributions), whether by payment or establishment of reserves; and; (b) secondSecond, to the its Sole Member.

Distribution of Assets Upon Dissolution. In settling the accounts of the Company after its dissolution, the assets of the Company shall will be applied and distributed in the following order of priority: : (a) first, to the extent permitted by applicable law, and in accordance with the priorities, if any, established by applicable law, to creditors in satisfaction of liabilities of the Company, including liabilities of the Company to its Sole Member as a creditor (other than for distributions and Capital Contributions), whether by payment or establishment of reserves; and (b) second, to the Sole its Member.