Common use of Allocation of Gain or Loss Upon Liquidation Clause in Contracts

Allocation of Gain or Loss Upon Liquidation. Notwithstanding Section 3.3(b) and Section 3.3(c), gain or loss recognized upon any sale, exchange, or other disposition of any assets of the Partnership incident to the dissolution and termination of the Partnership shall be allocated between the Partners so as to cause the credit balance in each Partner's Capital Account to equal, as nearly as possible, the amount each Partner would receive in a distribution on dissolution, if the distribution were made in accordance with the Partners' intentions as described in Section 3.2(b).

Allocation of Gain or Loss Upon Liquidation. Notwithstanding Section 3.3(b) and Section 3.3(c), gain or loss recognized upon any sale, exchange, or other disposition of any assets of the Partnership incident to the dissolution and termination of the Partnership shall be allocated between the Partners so as to cause the credit balance in each Partner's Capital Account to equal, as nearly as possible, the 7 amount each Partner would receive in a distribution on dissolution, if the distribution were made in accordance with the Partners' intentions as described in Section 3.2(b).

Allocation of Gain or Loss Upon Liquidation. Notwithstanding Section 3.3(b) and Section 3.3(c), gain or loss recognized upon any sale, exchange, or other disposition of any assets of the Partnership incident to the dissolution and termination of the Partnership shall be allocated between the Partners so as to cause the credit balance in each Partner's ’s Capital Account to equal, as nearly as possible, the amount each Partner would receive in a distribution on dissolution, if the distribution were made in accordance with the Partners' ’ intentions as described in Section 3.2(b).