Common use of Procedure for Winding Up and Dissolution Clause in Contracts

Procedure for Winding Up and Dissolution. If the Company is dissolved, the General Manager shall wind up its affairs. On winding up of the Company, the assets of the Company shall be distributed, first, to creditors of the Company, including Members who are creditors, in satisfaction of the liabilities of the Company, and then to the Members, in accordance with Section 4.3.

Appears in 2 contracts

Sources: Operating Agreement (Madison Run, LLC), Operating Agreement (Madison Run, LLC)

Procedure for Winding Up and Dissolution. If the Company is dissolved, the General Manager Board of Managers shall wind up its affairs. On winding up of the Company, the assets of the Company shall be distributed, first, to creditors of the Company, including Members who are creditors, in satisfaction of the liabilities of the Company, and then to the Members, Members in accordance with Section 4.34.4.

Appears in 1 contract

Sources: Operating Agreement (Concentra Corp)

Procedure for Winding Up and Dissolution. If the Company is dissolved, the General Manager Managing Member shall wind up its affairs. On winding up of the Company, the assets of the Company shall be distributed, first, to creditors of the Company, including Members who are creditors, in satisfaction of the liabilities of the Company, and then to the Members, distributed in accordance with Section 4.34.5.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Dell Inc)

Procedure for Winding Up and Dissolution. If the Company is dissolved, the General Manager shall wind up its affairs. On winding up of the Company, the assets of the Company shall be distributed, first, to creditors of the Company, including Members who are creditorscreditors (other than as the result of unpaid distributions), in satisfaction of the liabilities of the Company, and then to the Members, Members in accordance with Section 4.34.5.

Appears in 1 contract

Sources: Operating Agreement (Kti Inc)

Procedure for Winding Up and Dissolution. If the Company is dissolved, the General Manager shall wind up its affairs. On winding up of the Company, the assets of the Company shall be distributed, first, to creditors of the Company, including Members who are creditors, in satisfaction of the liabilities of the Company, and then to the Members, Members in accordance with Section 4.34.4.

Appears in 1 contract

Sources: Operating Agreement (DM Products, Inc.)