Winding Up and Liquidation. On dissolution of the partnership, if the partnership business is not continued pursuant to subsection (b) of this article, it shall be wound up and liquidated as quickly as circumstances will allow. The assets of the partnership shall be applied to partnership liabilities in the following order:
Appears in 3 contracts
Samples: Partnership Agreement, Partnership Agreement, Partnership Agreement
Winding Up and Liquidation. On dissolution of the partnership, if the partnership business is not continued pursuant to subsection (b) subpart b of this article, it shall be wound up and liquidated as quickly as circumstances will allow. The assets of the partnership shall be applied to partnership liabilities in the following order:
Appears in 2 contracts
Samples: Partnership Agreement (Sun Network Group Inc), Partnership Agreement (Sun Network Group Inc)
Winding Up and Liquidation. On Upon dissolution of the partnership, if the partnership business is not continued pursuant to subsection (b) of this articlePartnership, it shall be wound up and liquidated as quickly rapidly as business circumstances will allowpermit. The assets liabilities of the partnership Partnership shall be applied entitled to partnership liabilities payment in the following order:
Appears in 2 contracts
Samples: Limited Partnership Agreement (Pope Resources LTD Partnership), Limited Partnership Agreement (Pope Resources LTD Partnership)
Winding Up and Liquidation. On dissolution Upon Dissolution of the partnershipPartnership, if the partnership Partnership business is not continued pursuant to subsection (b) of this articleas provided in Section 12.02, it shall be wound up and liquidated as quickly as circumstances will allow. The assets of the partnership Partnership shall be applied to partnership Partnership liabilities in the following orderorder to the extent available therefor:
Appears in 1 contract
Samples: Agreement of Limited Partnership (LifeCare Holdings, Inc.)
Winding Up and Liquidation. On dissolution of the partnership, if the partnership business is not continued pursuant to subsection (b) of this article, it shall be wound up and liquidated as quickly as circumstances will allow. The assets of the partnership shall be applied to partnership liabilities in the following order:: Amounts owing to creditors other than partners; Amounts owing to partners other than for capital and profits; Amounts owing to partners in respect to capital; and Amounts owing to partners in respect to profits.
Appears in 1 contract
Samples: Partnership Agreement
