Order of Payment of Liabilities Upon Dissolution. After determining that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive capital account balances, after taking into account the allocation of Net Profits and Net Losses for the Company's taxable year during which liquidation occurs.
Appears in 1 contract
Sources: Operating Agreement (Rodgers Craig)
Order of Payment of Liabilities Upon Dissolution. After determining ------------------------------------------------ that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive capital account Capital Account balances, after taking into account the allocation of Net Profits income and Net Losses loss allocations for the Company's taxable year during which liquidation occurs; provided, however, that after distributions are made which reduce the positive Capital Account balances of the Members to zero, all additional distributions shall be made to the Members in accordance with their Membership Interests.
Appears in 1 contract
Order of Payment of Liabilities Upon Dissolution. After Notwithstanding anything herein to the contrary, after determining that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive capital account Capital Account balances, after taking into account the allocation of Net Profits and Net Losses for the Company's taxable year during which liquidation occurs.
Appears in 1 contract
Order of Payment of Liabilities Upon Dissolution. After determining that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive capital account Capital Account balances, after taking into account the allocation of Net Profits income and Net Losses loss allocations for the Company's taxable year during which liquidation occurs; provided, however, that after distributions are made which reduce the positive Capital Account balances of the Members to zero, all additional distributions shall be made to the Members in accordance with their Membership Interests.
Appears in 1 contract
Order of Payment of Liabilities Upon Dissolution. After determining that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive capital account Capital Account balances, after taking into account the allocation of Net Profits income and Net Losses loss allocations for the Company's taxable year during which liquidation occurs.
Appears in 1 contract
Order of Payment of Liabilities Upon Dissolution. After determining that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive capital account balances, after taking into account the allocation of Net Profits income and Net Losses loss allocations for the Company's taxable year during which liquidation occurs.
Appears in 1 contract
Sources: Partnership Agreement
Order of Payment of Liabilities Upon Dissolution. After determining that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members Member in accordance with their its positive capital account balancesbalance, after taking into account the allocation of Net Profits income and Net Losses loss allocations for the Company's ’s taxable year during which liquidation occurs.
Appears in 1 contract
Order of Payment of Liabilities Upon Dissolution. After determining that all the known debts and liabilities of the Company have been paid or adequately provided for, the remaining assets shall be distributed to the Members in accordance with their positive capital account Capital Account balances, after taking into account the allocation of Net Profits considering income and Net Losses loss allocations for the Company's taxable year during which liquidation occurs.
Appears in 1 contract
Sources: Operating Agreement