Examples of Bankrupt Partner in a sentence
Unless the entire Interest of the Bankrupt Partner is purchased pursuant to this Section 8.3, no portion of its Interest shall be purchased.
The Bankrupt Partner and the potential purchaser each will pay one-half of the costs of the appraisal and court costs in appointing an Appraiser (if any).
The Assignee of a Bankrupt Partner is (a) the Person or Persons (if any) to whom such Bankrupt Partner’s Partnership Interest is assigned by order of the bankruptcy court or other Governmental Authority having jurisdiction over such Bankruptcy, or (b) in the event of a general assignment for the benefit of creditors, the creditor to which such Partnership Interest is assigned.
If all of the other Partners so elect for a Bankrupt Partner to be dissociated, the Company will not be dissolved or wound up and the provisions of Subchapter VI and VII of the Act shall apply.
To the extent there is any disagreement among the Partners as to the value of the Bankrupt Partner's Interest, such dispute shall be determined by an Appraiser selected jointly by the Nonbankrupt Partners, on the one hand, and the Bankrupt Partner, on the other hand.