Common use of Liquidation or Dissolution A Clause in Contracts

Liquidation or Dissolution A. If the Partnership is liquidated or dissolved, the net proceeds from such liquidation, as provided in Article VIII, shall be distributed first to creditors, including Partners who are creditors, to the extent otherwise permitted by law (whether by payment or by establishment of reserves), other than liabilities for distributions to Partners and Investors, and any remaining net proceeds shall be distributed in proportion to the Capital Accounts of the Partners and Investors, determined after the allocations in Sections 4.IA and 4.IB. B. All distributions under this Section 4.4 shall be made by the end of the taxable year of liquidation of the Partnership or, within ninety (90) days of the date of liquidation, whichever is later.

Liquidation or Dissolution A. If the Partnership is liquidated or dissolved, the net proceeds from such liquidation, as provided in Article VIII, shall be distributed first to creditors, including Partners who are creditors, to the extent otherwise permitted by law (whether by payment or by establishment of reserves), other than liabilities for distributions to Partners and Investors, and any remaining net proceeds shall be distributed in proportion to the Capital Accounts of the Partners and Investors, determined after the allocations in Sections 4.IA 0.xX, 0.xX and 4.IB4.5. B. All distributions under this Section 4.4 shall be made by the end of the taxable year of liquidation of the Partnership or, within ninety (90) days of the date of liquidation, whichever is later.

Liquidation or Dissolution A. If the Partnership is liquidated or dissolved, the net proceeds from such liquidation, as provided in Article VIII, shall be distributed first to creditors, including Partners who are creditors, to the extent otherwise permitted by law (whether by payment or by establishment of reserves), other than liabilities for distributions to Partners and Investors, and any remaining net proceeds shall be distributed in proportion to the Capital Accounts of the Partners and Investors, determined after the allocations in Sections 4.IA and 4.IB4.lA, 4.xX anx 0.5. B. All distributions under this Section 4.4 shall be made by the end of the taxable year of liquidation of the Partnership or, within ninety (90) days of the date of liquidation, whichever is later.