Accounting on Dissolution. Following the dissolution of the Partnership pursuant to Section 9.1 of this Agreement, the books of the Partnership shall be closed, and a proper accounting of the Partnership’s assets, liabilities, and operations shall be made by the General Partner, all as of the most recent practicable date. The General Partner shall serve as the liquidator of the Partnership unless it has been removed or unless it otherwise fails or refuses to serve. If the General Partner does not serve as the liquidator, one or more other Persons or entities maybe elected to serve by vote or consent of the Limited Partner. The expenses incurred by the liquidator in connection with the dissolution, liquidation, and termination of the Partnership shall be borne by the Partnership.
Accounting on Dissolution. Upon dissolution of the LLC, the liquidating trustee shall cause the LLC’s accountant to make a full and proper accounting of the assets, liabilities, and operation of the LLC, as of and through the last day of the month in which the dissolution occurs.
Accounting on Dissolution. 9 9.3 Termination................................................................... 10 9.4 No Negative Capital Account Obligation........................................ 10
Accounting on Dissolution. Following the dissolution of the Partnership pursuant to Section 9.1 of this Agreement, the books of the Partnership shall be closed, and a proper accounting of the Partnership's assets, liabilities and operations shall be made by the General Partner, all as of the most recent practicable date.
Accounting on Dissolution. Following the dissolution of the Company pursuant to Section 10.1, the books of the Company shall be closed, and a proper accounting of the Company’s assets, liabilities and operations shall be made by the Managers, all as of the most recent practicable date. The Managers shall serve as the liquidators of the Company unless they fail or refuse to serve. If the Managers do not serve as the liquidators, one or more other persons may be elected to serve by the consent or vote of the Class A Member. The liquidators shall have all rights and powers that the Act confers on any person serving in such a capacity. The expenses incurred by the liquidators in connection with the dissolution, liquidation and termination of the Company shall be borne by the Company.
Accounting on Dissolution. Following the dissolution of the Partnership pursuant to Section 10.1, the books of the Partnership shall be closed, and a proper accounting of the Partnership’s assets, liabilities and operations shall be made by the General Partner, all as of the most recent practicable date. The General Partner shall serve as the liquidator of the Partnership unless it fails or refuses to serve. If the General Partner does not serve as the liquidators, one or more other persons may be elected to serve by the consent or vote of the Class A Limited Partners. The liquidators shall have all rights and powers that the Act confers on any person serving in such a capacity. The expenses incurred by the liquidators in connection with the dissolution, liquidation and termination of the Partnership shall be borne by the Partnership.
Accounting on Dissolution. If the Partnership is not reconstituted or continued in accordance with the terms hereof following a dissolution, then on the date (the "Accounting Date") which is four (4) months following the date of dissolution, a proper accounting shall be made of the Partnership assets, liabilities and operations, from the date of the last previous accounting to the Accounting Date. Any items of income, gain, credit, loss, expense and other deductions which are realized subsequent to the date of the last previous accounting to the Accounting Date shall be allocated in accordance with Article V and proper adjustments shall be made to the Capital Account of each Partner.
Accounting on Dissolution. Upon the occurrence of an event under Section 8.1 giving rise to the dissolution and winding up of the Partnership, the liquidating trustee will cause the Partnership's accountants to make a complete accounting of the assets, liabilities and operations of the Partnership as of the last day of the month in which the dissolution occurs.
Accounting on Dissolution. Following the dissolution of the Company pursuant to Section 12.1 of this Agreement, the books of the Company shall be closed, and a proper accounting of the Company's assets, liabilities, and operations shall be made by the Member, all as of the most recent practicable date. The Member shall be appointed to serve as the liquidator of the Company. The expenses incurred by the liquidator in connection with the dissolution, liquidation, and termination of the Company shall be borne by the Company.
Accounting on Dissolution. Upon dissolution, each partner shall fully repay the Partnership for any outstanding balance on all loans made by the Partnership to that partner. The assets of the Partnership will be liquidated, and the proceeds shall then be used first to pay debts (including loans by any partner to the Partnership), and the remainder then distributed to the partners in the percentages set forth in paragraph 1.2 above.
