In-Kind Distribution. If any assets of the Company are distributed in kind to the Members, those assets shall be valued on the basis of their fair market value, as determined by an appraiser selected by the Board and any Member entitled to receive such assets may receive an interest in such assets as a tenant-in-common with all other Members so entitled.
Appears in 2 contracts
Sources: Transaction Agreement (Nord Anglia Education, Inc.), Transaction Agreement (Nord Anglia Education, Inc.)
In-Kind Distribution. If any assets of the Company are distributed in kind to the Members, those assets shall be valued on the basis of their fair market value, as determined by an appraiser selected by in the Board reasonable and good faith judgment of the Board, and any Member entitled to receive such assets may will receive an interest in such assets in the same proportions as a tenant-in-common with all other cash equal to the fair market value of such property would be distributed among the Members so entitledpursuant to this Section 4.1.
Appears in 1 contract
Sources: Limited Liability Company Agreement
In-Kind Distribution. Assets of the Company (other than cash) may be distributed in kind to the Members in the discretion of the Managing Member. If any assets of the Company are distributed in kind to the MembersMembers in kind, those such assets shall be valued on the basis of their the fair market valuevalue thereof on the date of distribution, as determined by an appraiser selected by the Board and any Member entitled to receive such assets may receive an any interest in such assets shall receive such interest as a tenant-in-common with all other Members so entitled.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Gc Net Lease Reit, Inc.)