Common use of Liquidating Distributions Clause in Contracts

Liquidating Distributions. Following the dissolution of the Company, the assets of the Company shall first be applied to satisfy claims of creditors, with any balance being distributed to the Member in liquidation as provided in the Act.

Appears in 17 contracts

Sources: Operating Agreement (Sampson Simulator, LLC), Operating Agreement (Sampson Simulator, LLC), Operating Agreement (Sampson Simulator, LLC)

Liquidating Distributions. Following the dissolution of the Company, the assets of the Company shall first be applied to satisfy claims of creditors, with any balance being creditors and distributed to the Member in liquidation as provided in the ActAct by the persons charged with winding up the affairs of the Company.

Appears in 7 contracts

Sources: Operating Agreement (RedCo Group, Inc.), Operating Agreement (RedCo Group, Inc.), Limited Liability Company Operating Agreement (RedCo Group, Inc.)

Liquidating Distributions. Following the dissolution of the Company, the assets of the Company shall first be applied to satisfy (whether by payment or reasonable provision for payment) claims of creditors, with any balance being distributed to the Member in liquidation as provided in the Act.

Appears in 3 contracts

Sources: Operating Agreement (Atlas Industries Holdings LLC), Operating Agreement (Compass Diversified Trust), Operating Agreement (Compass Diversified Trust)

Liquidating Distributions. Following the dissolution of the Company, the assets of the Company shall first be applied to satisfy claims of creditors, with any including the Manager, and the balance being shall be distributed to the Member in liquidation as provided in the ActMember.

Appears in 2 contracts

Sources: Limited Liability Company Operating Agreement, Operating Agreement (Netsuite Inc)

Liquidating Distributions. Following the dissolution of Company’s dissolution, the Company, the ’s assets of the Company shall first be applied to satisfy claims of creditors, with any balance being creditors and distributed to the Member in liquidation as provided in the Act.

Appears in 1 contract

Sources: Operating Agreement (APX Group Holdings, Inc.)