Common use of Winding Up of the Partnership Clause in Contracts

Winding Up of the Partnership. (a) Upon dissolution of the Partnership, the Liquidating Partner shall promptly wind up the affairs of the Partnership in accordance with the provisions of this Section 7.3. The Partnership shall engage in no further business except as may be necessary, in the reasonable discretion of the Liquidating Partner, to preserve the value of the Partnership's assets during the period of dissolution and liquidation.

Appears in 2 contracts

Samples: Agreement (Hollywood Park Inc/New/), Partnership Agreement (Hollywood Park Fall Operating Co)

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Winding Up of the Partnership. (a) Upon dissolution of the Partnership, the Liquidating Partner shall promptly wind up the affairs of the Partnership partnership in accordance with the provisions of this Section 7.3. The Partnership partnership shall engage in no further business except as may be necessary, in the reasonable discretion of the Liquidating Partner, to preserve the value of the Partnership's assets during the period of dissolution and liquidation.

Appears in 1 contract

Samples: Partnership Agreement (Switzerland County Development Corp)

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Winding Up of the Partnership. (a) Upon dissolution of the Partnership, the Liquidating Partner shall promptly wind up the affairs of the Partnership in accordance with the provisions of this Section 7.3. The Partnership shall engage in no further business except as may be necessary, in the reasonable discretion of the Liquidating Partner, to preserve the value of the Partnership's ’s assets during the period of dissolution and liquidation.

Appears in 1 contract

Samples: Partnership Agreement (St Louis Casino Corp)

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