Order of Payment of Liabilities Upon Dissolution. After determining that all the known debts and liabilities of the Company have been adequately provided for, the remaining assets shall be distributed to the Members who have participated in such investment assets in accordance with their positive capital account balances for such investments, after taking into account income and loss allocations with respect to such investments for the Company’s taxable year during which liquidation occurs.
Appears in 1 contract
Sources: Operating 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 who have participated in such investment assets in accordance with their positive capital cpaital account balances for such investmentsbalances, after taking into account income and loss allocations with respect to such investments for the Company’s 's taxable year during which liquidation occurs.
Appears in 1 contract
Sources: Operating Agreement (Usopn Inc)
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 who have participated in such investment assets in accordance with their positive capital account balances for such investmentsmembership interests, after taking into account income and loss allocations with respect to such investments 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 who have participated in such investment assets Member in accordance with their positive capital account balances for such investmentsbalances, after taking into account income and loss allocations with respect to such investments for the Company’s 's taxable year during which liquidation occurs.
Appears in 1 contract
Sources: Operating 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 who have participated in such investment assets in accordance with their positive capital account balances for such investmentsbalances, after taking into account income and loss allocations with respect to such investments for the Company’s taxable year during which liquidation occursliquidations occur.
Appears in 1 contract
Sources: Operating 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 who have participated in such investment assets in accordance with their positive capital CUSIP No. 6▇▇▇▇▇▇▇▇ 13D Page 31 of 50 Pages account balances for such investmentsbalances, after taking into account income and loss allocations with respect to such investments for the Company’s taxable year during which liquidation occurs.
Appears in 1 contract
Sources: Limited Liability Company Operating Agreement (Bonn Edward J)