Common use of Distribution of Assets Upon Dissolution Clause in Contracts

Distribution of Assets Upon Dissolution. In settling accounts after dissolution, the liabilities of the Company shall be entitled to payment in the order of priority as provided by law in satisfaction of all liabilities and obligations of the Company whether by payment or the establishment of reasonable reserves therefor. The remaining assets of the Company shall be distributed to the Members in accordance with Section 10.3(c).

Distribution of Assets Upon Dissolution. In settling accounts after dissolution, the liabilities of the Company shall be entitled to payment in the following order: (a) those to creditors, in the order of priority as provided by law in satisfaction of all liabilities and obligations law, except those to Members of the Company whether by payment or the establishment on account of reasonable reserves therefor. The remaining assets their Capital Contributions; and (b) those to Member's of the Company shall be distributed company with respect to the Members their Capital Accounts in accordance with Section 10.3(c9.3(d).

Distribution of Assets Upon Dissolution. In settling accounts after dissolution, the liabilities of the Company shall be entitled to payment in the order of priority following order: (a) to creditors (including Members who are creditors to the extent otherwise permitted by law), other than liabilities for distributions to Members; (b) reasonable reserves as provided determined by law in satisfaction of all liabilities and obligations the Members; and (c) then, to the Members of the Company whether by payment or the establishment of reasonable reserves therefor. The remaining assets of the Company shall be distributed to the Members in accordance with Section 10.3(c)6.2.

Distribution of Assets Upon Dissolution. In settling accounts after dissolution, the liabilities of the Company shall be entitled to payment in the order of priority as provided following order: (a) to creditors to the extent otherwise permitted by law law, in satisfaction of all liabilities and obligations of the Company (whether by payment or the establishment making of reasonable reserves therefor. The remaining assets of the Company shall be distributed provision for payment thereof) other than liabilities for which reasonable provision for payment has been made and liabilities for distributions to the Members in accordance with Section 10.3(c)Member; (b) to the repayment of any outstanding loans from the Member to the Company; and (c) the balance, if any, to the Member.

Distribution of Assets Upon Dissolution. In settling accounts after dissolution, the liabilities of the Company shall be entitled to payment ( or the making of reasonable provision for payment thereof including contingent, conditional and unmatured liability) in the following order: (a) Those liabilities to creditors, in the order of priority as provided by law in satisfaction of all liabilities and obligations law, except those to Members of the Company whether by payment or the establishment company on account of reasonable reserves therefor. The remaining assets their Capital Contributions which shall be dealt with as set out in (b) below; and (b) To Members of the Company shall be distributed company with respect to the Members in accordance with Section 10.3(c)their Sharing Ratios.

Distribution of Assets Upon Dissolution. In settling accounts after dissolution, the liabilities of the Company shall will be entitled to payment in the following order: a. To those creditors, in the order of priority as provided by law in satisfaction of all liabilities and obligations law, except to the Member of the Company whether by payment or on account of its Capital Contribution, and b. To the establishment of reasonable reserves therefor. The remaining assets of the Company shall be distributed Member with respect to the Members its Capital Account in accordance with Section 10.3(c)provisions of this Operating Agreement.