Distribution of Assets. Upon a dissolution of the Partnership, the General Partner (or, if there is no General Partner then remaining, such other Person(s) designated as the liquidator of the Partnership by the Special Limited Partner or by the court in a judicial dissolution) shall take full account of the Partnership assets and liabilities and shall liquidate the assets as promptly as is consistent with obtaining the fair value thereof.
Appears in 33 contracts
Samples: Guaranty Agreement, Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 11), Budget Agreement (WNC Housing Tax Credit Fund VI, L.P., Series 13)
Distribution of Assets. Upon a dissolution of the Partnership, the General Partner (or, if there is no General Partner then remaining, such other Person(s) designated as the liquidator of the Partnership by the Special Limited Partner or by the court in a judicial dissolution) shall take full account of the Partnership assets and liabilities and shall liquidate the assets as promptly as is consistent with obtaining the fair value thereof.
Appears in 13 contracts
Samples: Amended and Restated Agreement (WNC Housing Tax Credit Fund Vi Lp Series 11), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 7), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)
Distribution of Assets. Upon a dissolution of the Partnership, the General Partner (or, if there is no General Partner then remaining, such other Person(s) designated as the liquidator of the Partnership by the Special Limited Partner or by the court in a judicial dissolution) shall take full account of the Partnership assets and liabilities and shall liquidate the assets as promptly as is consistent with obtaining the fair value thereof, subject to any restrictions of the Project's HAP contract.
Appears in 4 contracts
Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 9), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 7), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 8)
