In a liquidating distribution the cash proceeds are

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Corporations can fold either by dissolution or complete liquidation.Dissolution is an “administrative” termination of the corporation and while it is a usual first step, it doesn’t necessarily mean the corporation is folding.Second: To all applicable Lenders in accordance with their proportional share based upon their respective Commitment Percentages until all Lenders have been reimbursed for all fees and expenses which such Lenders have previously paid to the Administrative Agent and not theretofore paid to such Lenders.Third: Pari passu, (a) to all applicable Lenders in accordance with their proportional share based upon their respective Commitment Percentages until all Lenders have been paid in full all principal and interest due to such Lenders under the Loan, with each Lender applying such proceeds for purposes of this Agreement first against the outstanding principal balance due to such Lender under the Loan and then to accrued and unpaid interest due under the Loan, and (b) to payment of breakage, termination or other payments, and any interest accrued thereon, due under any Swap Contract between any Loan Party and Administrative Agent or any Lender, or any Affiliate of a Lender.

Fifth: To the Borrower or such third parties as may be entitled to claim Liquidation Proceeds. The Partners shall continue to allocate Net Profits and Net Losses and distribute Available Cash during the winding-up period in the same manner and the same priorities as provided for in Articles 4 and 5 hereof.Upon liquidation, the assets of the Company shall be used and distributed in the following order: (a) to pay or provide for the payment of all debts and liabilities of the Company to creditors other than the Member and all expenses of liquidation; (b) to pay or provide for the payment of all debts and liabilities of the Company to the Member; and (c) to be distributed to the Member.Perhaps you’re considering selling off your C corporation’s assets and liquidating the firm.Additionally, assets of the Company may, from time to time, be sold or otherwise disposed of, either in a single transaction or a series of transactions, at a fair value greater than or equal to ,000,000 (such transaction or transactions, a “Partial Liquidation”).The proceeds from any Liquidation or Partial Liquidation will be applied and distributed in the following order: Distribution of Liquidation Proceeds.

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