Reasonable Time for Winding Up. A reasonable time will be allowed for the orderly winding up of the business and affairs of the Partnership and the liquidation of its assets pursuant to Section 10.2(b) above in order to minimize any losses otherwise attendant upon such winding up. Distributions upon liquidation of the Partnership (or any Unitholder's interest in the Partnership) and related adjustments will be made by the end of the Taxable Year of the liquidation (or, if later, within 90 days after the date of such liquidation) or as otherwise permitted by Treasury Regulation Section 1.704-1(b)(2)(ii)(b).
Appears in 2 contracts
Samples: Management Services Agreement (Grande Communications Holdings, Inc.), Limited Partnership Agreement (Grande Communications Holdings, Inc.)
Reasonable Time for Winding Up. A reasonable time will be allowed for the orderly winding up of the business and affairs of the Partnership and the Series and the liquidation of its the assets pursuant to Section 10.2(b11.2(b) above in order to minimize any losses otherwise attendant upon such winding winding-up. Distributions upon liquidation of the Partnership or Series (or any Unitholder's Limited Partner’s interest in the Partnership) and related adjustments will be made by the end of the Taxable Fiscal Year of the liquidation (or, if later, within 90 ninety (90) days after the date of such liquidation) or as otherwise permitted by Treasury Regulation Regulations Section 1.704-1(b)(2)(ii)(b).
Appears in 2 contracts
Samples: Separate Series Agreement (TCP-ASC ACHI Series LLLP), Separate Series Agreement (TCP-ASC ACHI Series LLLP)
Reasonable Time for Winding Up. A reasonable time will be allowed for the orderly winding up of the business and affairs of the Partnership or any Series and the liquidation of its assets pursuant to Section 10.2(b) above in order to minimize any losses otherwise attendant upon such winding up. Distributions upon liquidation of the Partnership or any Series (or any Unitholder's Partner’s interest in the PartnershipPartnership or such Series) and related adjustments will be made by the end of the Taxable Year of the liquidation (or, if later, within 90 days after the date of such liquidation) or as otherwise permitted by Treasury Regulation Section 1.704-1(b)(2)(ii)(b).
Appears in 2 contracts
Samples: Limited Liability Limited Partnership Agreement (Ladder Capital Corp), Limited Liability Limited Partnership Agreement (Ladder Capital Corp)
