Common use of Automatic Dissolution Clause in Contracts

Automatic Dissolution. The Partnership shall be automatically and without notice dissolved upon the happening of any of the following events: 12.2.1 The sale or abandonment of all or substantially all of the Partnership's business and assets; provided, however, that any such sale or abandonment may only be made pursuant to the written consent of Partners having 75% or more of the total Percentage Interests of the Partners; 12.2.2 Any event which shall make it unlawful for the business of the Partnership to be carried on; or 12.2.3 Any event which, under the Partnership Act or any other applicable law, rule or regulation, requires or results in dissolution of the Partnership.

Automatic Dissolution. The Partnership shall be automatically and without notice dissolved upon the happening of any of the following events: 12.2.1 The sale or abandonment of all or substantially all of the Partnership's ’s business and assets; provided, however, that any such sale or abandonment may only be made pursuant to the written consent of Partners having 75% or more a Super-Majority Vote of the total Percentage Interests of the PartnersManagement Committee; 12.2.2 Any event which shall make it unlawful for the business of the Partnership to be carried on; or 12.2.3 Any event which, under the Partnership Act or any other applicable law, rule or regulation, regulation requires or results in dissolution of the Partnership.