Common use of Dissolution Liquidation Winding Up and Withdrawal Clause in Contracts

Dissolution Liquidation Winding Up and Withdrawal. Dissolution.46 The Partnership will be dissolved upon the first to occur of the following: subject to Section 8.04 of this Agreement, an event of withdrawal (as defined in Section [cite section of state RULPA] of the Act)47 of the General Partner; the later of: the close of business on [initial date for dissolution] ; or ten (10) years from the formation of the Partnership; or two years after all Outstanding Leverage has matured; or48 the determination of the Partners to dissolve and terminate the Partnership as provided in Section 8.01(c). The Partnership will not dissolve upon the withdrawal, dissolution, bankruptcy, death or adjudication of incompetence or insanity of any Limited Partner. ______ percent (__ %) in interest of the Limited Partners may elect to dissolve the Partnership by giving notice to each Partner and SBA of the election. Any notice of an election to dissolve the Partnership may only be given: on or after the later to occur of: (A) [initial date for dissolution] or (B) ten (10) years from the formation of the Partnership; if all Outstanding Leverage has been repaid or redeemed; and if all amounts due SBA, its agent or trustee have been paid.49 Any election to dissolve the Partnership given under this Section 8.01(c) will not be effective until the later of: (A) ____________ (___) days from the date the notice is given to all parties or (B) the effective date of dissolution stated in the notice. ______ percent (__ %) in interest of the Limited Partners and the General Partner may elect to extend the date set forth in Section 8.01(a)(ii)(A) and Section 8.01(c)(i) at any time within [state period] prior to such date. Such date can be extended by any such election for an additional period of up to [state period], but may not be extended by this clause beyond [state maximum date, if any].

Dissolution Liquidation Winding Up and Withdrawal. Dissolution.46 Dissolution.50 The Partnership will be dissolved upon the first to occur of the following: subject to Section 8.04 8.4 of this Agreement, an event of withdrawal (as defined in Section [cite section of state RULPA] of the Act)47 Act)51 of the General Partner; the later of: the close of business on [initial date for dissolution] ; or ten (10) years from the formation of the Partnership; or two years after all Outstanding Leverage has matured; or48 or52 the determination of the Partners to dissolve and terminate the Partnership as provided in Section 8.01(c8.1(c). The Partnership will not dissolve upon the withdrawal, dissolution, bankruptcy, death or adjudication of incompetence or insanity of any Private Limited Partner. ______ percent (__ %) in interest of the Private Limited Partners may elect to dissolve the Partnership by giving notice to each Partner and SBA of the election. Any notice of an election to dissolve the Partnership may only be given: on or after the later to occur of: (A) [initial date for dissolution] or (B) ten (10) years from the formation of the Partnership; if all Outstanding Leverage has been repaid or redeemed; and if all amounts due SBA, its agent or trustee have been paid.49 paid.53 Any election to dissolve the Partnership given under this Section 8.01(c8.1(c) will not be effective until the later of: (A) ____________ (___) days from the date the notice is given to all parties or (B) the effective date of dissolution stated in the notice. ______ percent (__ %) in interest of the Private Limited Partners and the General Partner may elect to extend the date set forth in Section 8.01(a)(ii)(A8.1(a)(ii)(A) and Section 8.01(c)(i8.1(c)(i) at any time within [state period] prior to such date. Such date can be extended by any such election for an additional period of up to [state period], but may not be extended by this clause beyond [state maximum date, if any].

Dissolution Liquidation Winding Up and Withdrawal. Dissolution.46 Dissolution.50 The Partnership will be dissolved upon the first to occur of the following: subject to Section 8.04 of this Agreement, an event of withdrawal (as defined in Section [cite section of state RULPA] of the Act)47 Act)51 of the General Partner; the later of: the close of business on [initial date for dissolution] ; or ten (10) years from the formation of the Partnership; or two years after all Outstanding Leverage has matured; or48 or52 the determination of the Partners to dissolve and terminate the Partnership as provided in Section 8.01(c). The Partnership will not dissolve upon the withdrawal, dissolution, bankruptcy, death or adjudication of incompetence or insanity of any Private Limited Partner. ______ percent (__ %) in interest of the Private Limited Partners may elect to dissolve the Partnership by giving notice to each Partner and SBA of the election. Any notice of an election to dissolve the Partnership may only be given: on or after the later to occur of: (A) [initial date for dissolution] or (B) ten (10) years from the formation of the Partnership; if all Outstanding Leverage has been repaid or redeemed; and if all amounts due SBA, its agent or trustee have been paid.49 paid.53 Any election to dissolve the Partnership given under this Section 8.01(c) will not be effective until the later of: (A) ____________ (___) days from the date the notice is given to all parties or (B) the effective date of dissolution stated in the notice. ______ percent (__ %) in interest of the Private Limited Partners and the General Partner may elect to extend the date set forth in Section 8.01(a)(ii)(A) and Section 8.01(c)(i) at any time within [state period] prior to such date. Such date can be extended by any such election for an additional period of up to [state period], but may not be extended by this clause beyond [state maximum date, if any].

Dissolution Liquidation Winding Up and Withdrawal. Dissolution.46 The Partnership will be dissolved upon the first to occur of the following: subject to Section 8.04 8.4 of this Agreement, an event of withdrawal (as defined in Section [cite section of state RULPA] of the Act)47 of the General Partner; the later of: the close of business on [initial date for dissolution] ; or ten (10) years from the formation of the Partnership; or two years after all Outstanding Leverage has matured; or48 the determination of the Partners to dissolve and terminate the Partnership as provided in Section 8.01(c8.1(c). The Partnership will not dissolve upon the withdrawal, dissolution, bankruptcy, death or adjudication of incompetence or insanity of any Limited Partner. ______ percent (__ %) in interest of the Limited Partners may elect to dissolve the Partnership by giving notice to each Partner and SBA of the election. Any notice of an election to dissolve the Partnership may only be given: on or after the later to occur of: (A) [initial date for dissolution] or (B) ten (10) years from the formation of the Partnership; if all Outstanding Leverage has been repaid or redeemed; and if all amounts due SBA, its agent or trustee have been paid.49 Any election to dissolve the Partnership given under this Section 8.01(c8.1(c) will not be effective until the later of: (A) ____________ (___) days from the date the notice is given to all parties or (B) the effective date of dissolution stated in the notice. ______ percent (__ %) in interest of the Limited Partners and the General Partner may elect to extend the date set forth in Section 8.01(a)(ii)(A8.1(a)(ii)(A) and Section 8.01(c)(i8.1(c)(i) at any time within [state period] prior to such date. Such date can be extended by any such election for an additional period of up to [state period], but may not be extended by this clause beyond [state maximum date, if any].