Common use of Distribution upon Dissolution Clause in Contracts

Distribution upon Dissolution. Upon dissolution of the Company and the sale of its assets, the proceeds of such sale or the assets of the Company shall be allocated as set forth below: (a) To pay all outstanding liabilities and expenses of the Company; (b) To establish such reserves for unknown or contingent liabilities, including, without limitation, reserves for environmental matters, as the Members may determine; (c) To each Member, an amount equal to his/her/its capital account balance as of the date of dissolution (after giving effect to the allocation of all Net Profits or Net Losses realized upon dissolution) or a pro rata portion thereof if the total assets to be distributed are less than the total capital account balance of the Company; and (d) Any remaining balance shall be distributed to the Members in proportion to their Percentage Interests.

Distribution upon Dissolution. Upon dissolution of the Company and the sale of its assets, the proceeds of such sale or the assets of the Company shall be allocated as set forth below: (a) To pay all outstanding liabilities and expenses of the Company; (b) To establish such reserves for unknown or contingent liabilities, including, without limitation, reserves for environmental matters, as the Members may determine; (c) To each Member, an amount equal to his/her/its capital account balance as of the date of ol dissolution (after giving effect to the allocation of all Net Profits or Net Losses realized upon dissolution) or a pro rata portion thereof if the total assets to be distributed are less than the total capital account balance of the Company; and (d) Any remaining balance shall be distributed to the Members in proportion to their Percentage Interests.

Distribution upon Dissolution. Upon dissolution of the Company and the sale of its assets, the proceeds of such sale or the assets of the Company shall be he allocated as set forth below: (a) To pay all outstanding liabilities and expenses of the The Company;: (b) To establish such reserves for unknown or contingent liabilities, including, . without limitation, reserves for environmental matters, as the Members may determine; (c) To each Member, an amount equal to his/her/its capital account balance as of the date d▇▇▇ of dissolution (after giving effect to the allocation of all Net Profits or Net Losses realized upon dissolution) or a pro rata portion thereof if the total assets to be distributed are less than the total capital account balance of the Company; and (d) Any remaining balance shall be distributed to the Members in proportion to their Percentage Interests.

Distribution upon Dissolution. Upon dissolution of the Company and the sale of its assets, the proceeds of such sale or the assets of the Company shall be allocated as set forth below: (a) To pay all outstanding liabilities and expenses of the Company;, (b) To establish such reserves for unknown or contingent liabilities, including, without limitation, reserves for environmental matters, as the Members may determine; (c) To each Member, an amount equal to his/her/its capital account balance as of the date of dissolution (after giving effect to the allocation of all Net Profits or Net Losses realized upon dissolution) or a pro rata portion thereof if the total assets to be distributed are less than the total capital account balance of the Company; , and (d) Any remaining balance shall be distributed to the Members in proportion to their Percentage Interests.