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 following order: 18.3.1 to creditors, in the order of priority as provided by law (except to Members on account of their Capital Contributions); 18.3.2 to Members and former Members in satisfaction of liabilities for distributions under Section 7-80-601 or 7-80-603 of the Act; and 18.3.3 to Members pro rata in accordance with the positive balances in their Capital Accounts after taking into account all adjustments to the Capital Accounts for all periods.

Distribution of Assets Upon Dissolution. In settling accounts after dissolution, the liabilities of the Company shall be entitled to payment in the following order: 18.3.1 to creditors, in the order of priority as provided by law (except to Members on account of their Capital Contributions); 18.3.2 to Members and former Members in satisfaction of liabilities for distributions under Section 7-80-601 or 7-80-80- 603 of the Act; and 18.3.3 to Members pro rata in accordance with the positive balances in their Capital Accounts after taking into account all adjustments to the Capital Accounts for all periods.