Winding Up and Certificate of Cancellation. The winding up of the Company shall be completed when all debts, liabilities, and obligations of the Company have been paid and discharged or reasonably adequate provision therefor has been made, and all of the remaining Property of the Company has been distributed to the Members. During the winding up period, the Company shall cease carrying on, as distinguished from the winding up of, the Company business. Upon the completion of winding up of the Company, a certificate of cancellation, together with any required filing fee, shall be delivered to the Secretary of State. The certificate of cancellation shall set forth such information as is required by the Act.
Appears in 2 contracts
Sources: Limited Liability Company Operating Agreement (Premier Finance Biloxi Corp), Operating Agreement (Premier Finance Biloxi Corp)