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GIS » Topics » 13.7 Guaranteed Payments During Period of Liquidation.

This excerpt taken from the GIS 10-Q filed Jan 6, 2005.

        13.7     Guaranteed Payments During Period of Liquidation.

        During the period commencing on the first day of the Fiscal Quarter during which a Liquidating Event occurs and ending on the date on which all of the assets of the Company have been distributed to the Members pursuant to Section 13.2 (the “Liquidation Period”), the Company shall pay to each Limited Member no less frequently than on the last day of each Fiscal Quarter during such Liquidation Period and on the date on which all of the assets of the Company are distributed to the Members, Cash in an amount (the “Liquidation Period Guaranteed Payment”) equal to the Limited Member Preferred Return on such Limited Member’s Preferred Return Capital at the beginning of such quarter.

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