Non-Liquidating Distributions. In the event that assets of the Partnership are deemed to be distributed other than in liquidation of the Partnership, such assets shall be deemed to be distributed in accordance with the US Profit Shares (unless otherwise determined by the Tax Matters Partner in its reasonable discretion).
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Samples: License Agreement (Vividion Therapeutics, Inc.), License Agreement (Vividion Therapeutics, Inc.)
Non-Liquidating Distributions. In the event that assets of the Partnership are deemed to be distributed other than in liquidation of the Partnership, such assets shall be deemed to be distributed in accordance with the US Profit Shares (unless otherwise determined by the Tax Matters Partner in its reasonable discretion).
Appears in 2 contracts
Samples: License Agreement (Vividion Therapeutics, Inc.), License Agreement (Vividion Therapeutics, Inc.)
Non-Liquidating Distributions. In the event that assets of the Partnership are deemed to be distributed other than in liquidation of the Partnership, such assets shall be deemed to be distributed in accordance with the US payments comprising the share of Gross Profits between BPM and Genentech under Article 8 of the Agreement (the “U.S. Profit Shares (Share”), unless otherwise determined by the Tax Matters Partner Partnership Representative in its reasonable discretion).
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