Liquidation of the Partnership Sample Clauses

Liquidation of the Partnership. Upon the dissolution of the Partnership under circumstances in which the business is not continued as provided in Section 20.2, no further business shall be conducted by the Partnership, except for the taking of such action as shall be necessary for the winding up of its business and affairs, the liquidation of its assets and/or the distribution of its assets to the Partners. Unless otherwise decided by the Partnership Committee, the Operator shall be the liquidating trustee for the Partnership. The winding up and liquidation of the Partnership shall consist of the sale of the properties of the Partnership, at the conclusion of which the Partnership shall terminate.
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Liquidation of the Partnership. (a) If the Partnership is dissolved by agreement pursuant to Section 9.2, the Board of Directors shall proceed with the winding up of the Partnership, and the assets of the Partnership shall be applied and distributed as provided in this Section 9.4. If the Partnership is dissolved at the election of one of the Partners pursuant to Section 9.2, the electing Partner shall control the winding up and distribution of the assets of the Partnership.
Liquidation of the Partnership. 54 10.1 LIQUIDATION............................................. 54 10.2
Liquidation of the Partnership. (a) Upon dissolution of the Partnership, the Partners shall apply and distribute the assets of the Partnership thereof as contemplated by this Article.
Liquidation of the Partnership. Any repayments shall be credited first to accrued and unpaid interest, and then to reduce the principal balance of the unpaid Total Cash Distribution and Fees amount. If the total amount required to be repaid by the Successor General Partner has not been repaid upon the Successor General Partner ceasing to be general partner for any reason, including upon (i) the resignation or removal of the Successor General Partner, (ii) the merger of the Partnership into another entity, or (iii) the liquidation of the Partnership, the Successor General Partner shall be required to repay such outstanding amounts. In the case of such a merger or liquidation, the amounts owed by the Successor General Partner shall be repaid prior to the closing of the merger and prior to the final distribution of liquidation proceeds to the partners of the Partnership. ART shall guarantee the full repayment of all amounts owed by the Successor General Partner pursuant to this Section 10. The Partnership shall not be entitled to release ART from its guaranty, unless ART provides for the full satisfaction of the underlying obligation through payment.
Liquidation of the Partnership. The General Partner shall use commercially reasonable efforts to have the Project and all other Partnership property listed for sale on or before the last day of the Operating Period. If, by such date, the General Partner has not taken such action and is not diligently pursuing such action, the General Partner shall forfeit the General Partner Investment.
Liquidation of the Partnership and Liquidation of a Partner & ------------------------------------------------------------- Interest in the Partnership. ---------------------------
Liquidation of the Partnership. In the absence of any written agreement to the contrary between the Partners, upon the dissolution of the Partnership, the business and assets of the Partnership shall be liquidated.
Liquidation of the Partnership. The Partnership Agreement provides the method of dissolving the partnership and the process for liquidating the partnership, including the preparation of final accounts and paying outstanding liabilities of the partnership.
Liquidation of the Partnership. Upon the dissolution of the Partnership, the General Partner shall (or, if there then is no General Partner, the Limited Partners or a Person appointed by the Limited Partners may) immediately commence to wind up the Partnership’s affairs; provided, however, a reasonable time shall be allowed for the orderly liquidation of the assets of the Partnership, the discharge of liabilities to creditors and the winding up of the affairs of the Partnership in an orderly manner, so as to enable the Partners to minimize the normal losses attendant upon a liquidation. The proceeds of liquidation shall be distributed, as realized in the following order and priority: