Winding Up by Liquidating Member. In a dissolution pursuant to either Articles 4, 10, 11 or 12, the Liquidating Member shall be as therein provided and such Liquidating Member shall have the right to wind up the Company and cause the Company’s assets to be sold and the proceeds of sale distributed as provided in Section 13.4.
Appears in 1 contract
Sources: Operating Agreement (Bluerock Residential Growth REIT, Inc.)
Winding Up by Liquidating Member. (a) In a dissolution pursuant to either Articles 4, 10, 11 Section 4.5(d)(iii) or 12Article 11, the Liquidating Member shall be as therein provided and such Liquidating Member shall have the right to wind to:
(i) Wind up the Company and cause the Company’s assets to be sold and the proceeds of sale distributed as provided in Section 13.413.5; or
(ii) Notwithstanding anything to the contrary contained in this Agreement, cause the assets of the Company to be appraised in accordance with Section 13.2(c) and, at its option, purchase the Entire Interest of the other Member in accordance with Section 13.2(b).
Appears in 1 contract
Sources: Limited Liability Company Agreement (CNL Growth Properties, Inc.)
Winding Up by Liquidating Member. In a dissolution pursuant to either Articles 4, 1011, 11 12 or 1213, the Liquidating Member shall be as therein provided and such Liquidating Member shall have the right to wind up the Company and cause the Company’s assets to be sold and the proceeds of sale distributed as provided in Section 13.414.4.
Appears in 1 contract
Sources: Operating Agreement (Bluerock Enhanced Multifamily Trust, Inc.)