Form of Liquidating Distributions. (a) In general. Except as provided in this Section 12.10, for purposes of making distributions required by Section 12.02 hereof, the Liquidator may determine whether to distribute all or any portion of the Property in-kind or to sell all or any portion of the Property and distribute the proceeds therefrom, provided that the Liquidator shall not distribute Property other than cash to any Class A Member without its consent, and the Liquidator shall be required to reduce the Property to cash to the extent necessary to make distributions to the Class A Members pursuant to Section 12.02 hereof in cash.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Ims Health Inc)
Form of Liquidating Distributions. (a) In general. Except as provided in this Section 12.10, for purposes of making distributions required by Section 12.02 hereof12.02, the Liquidator may determine whether to distribute all or any portion of the Partnership Property in-kind or to sell all or any portion of the Partnership Property and distribute the proceeds therefrom, provided that the Liquidator shall not distribute Partnership Property other than cash to any Class A Member Limited Partner without its consent, and the Liquidator shall be required to reduce the Partnership Property to cash to the extent necessary to make distributions to the Class A Members Limited Partners pursuant to Section 12.02 hereof in cash.
Appears in 1 contract
Sources: Agreement of Limited Partnership (Dun & Bradstreet Corp)
Form of Liquidating Distributions. (a) In general. Except as provided in this Section 12.1012.9, for purposes of making distributions required by Section 12.02 hereof12.2, the Liquidator may determine whether to distribute all or any portion of the Company Property in-kind or to sell all or any portion of the Company Property and distribute the proceeds therefrom, provided that the Liquidator shall not distribute Company Property other than cash Cash to any Class A Member without its consent, and the Liquidator shall be required to reduce the Company Property to cash Cash to the extent necessary to make distributions to the Class A Members pursuant to Section 12.02 hereof in cash.12.2
Appears in 1 contract
Sources: Limited Liability Company Agreement (Resource America Inc)