This excerpt taken from the GIS 10-Q filed Jan 6, 2005.
13.2 Winding Up.
Upon the occurrence of a (i) Liquidating Event or (ii) the determination by a court of competent jurisdiction that the Company has dissolved prior to the occurrence of a Liquidating Event (unless the Company is reconstituted pursuant to Section 13.1(b)), the Company shall continue solely for the purposes of winding up its affairs in an orderly manner, liquidating its assets, and satisfying the claims of its creditors and Members, and no Member shall take any action that is inconsistent with, or not necessary to or appropriate for, the winding up of the Companys business and affairs; provided that, to the extent not inconsistent with the foregoing, all covenants contained in this Agreement and obligations provided for in this Agreement shall continue to be fully binding upon the Members until such time as the Property has been distributed pursuant to this Section 13.2 and the Certificate of Formation has been canceled pursuant to the Act. The Liquidator shall be responsible for overseeing the winding up and dissolution of the Company, which winding up and dissolution shall be completed within ninety (90) days of the occurrence of the Liquidating Event and within ninety (90) days after the last day on which the Company may be reconstituted pursuant to Section 13.1(b). The Liquidator shall take full account of the Companys liabilities and Property and shall cause the Property or the proceeds from the sale thereof (as determined pursuant to Section 13.11), to the extent sufficient therefor, to be applied and distributed, to the maximum extent permitted by law, in the following order:
(a) First, to creditors in satisfaction of all of the Companys debts and other liabilities (whether by payment or the making of reasonable provision for payment thereof to the extent required by Section 18-804 of the Act), other than the liabilities for distribution to Members under Section 18-601 or 18-604 of the Act;
(b) Second, to the Members and former Members of the Company in satisfaction of liabilities for distribution under Sections 18-601 or 18-604 of the Act; and
(c) Third, the balance, if any, to the Members in accordance with the positive balance in their Capital Accounts, after giving effect to a Mark-to-Market Valuation pursuant to Section 13.11 and a determination and allocation of all Profits, Losses, and other items of the Companys income, gain, loss or deduction pursuant to Section 3.
No Member shall receive additional compensation for any services performed pursuant to this Section 13.