Common use of Deemed Contribution and Distribution Clause in Contracts

Deemed Contribution and Distribution. In the event the Partnership is liquidated within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g) but no event described in Section 9.1 hereof has occurred, the Partnership property shall not be liquidated, the Partnership’s liabilities shall not be paid or discharged, and the Partnership’s affairs shall not be wound up. Instead, solely for federal income tax purposes, the Partnership shall be deemed to have contributed all Partnership property and liabilities to a new partnership in exchange for an interest in such new partnership and, immediately thereafter, the Partnership will be deemed to liquidate by distributing interests in the new partnership to the Partners.

Deemed Contribution and Distribution. In the event the Partnership is liquidated within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g) but no event described in Section 9.1 hereof Liquidating Event has occurred, the Partnership property Property shall not be liquidated, the Partnership’s liabilities shall not be paid or discharged, and the Partnership’s affairs shall not be wound up. Instead, solely for federal income tax purposes, the Partnership shall be deemed to have contributed all Partnership property Property and liabilities to a new limited partnership in exchange for an interest in such new limited partnership and, and immediately thereafter, the Partnership will be deemed to liquidate by distributing interests in the new limited partnership to the Partners.

Deemed Contribution and Distribution. In the event the Partnership is liquidated within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g1 (b)(2)(ii)(g) of the Regulations but no event described in Section 9.1 hereof Liquidating Event has occurred, the Partnership property Property shall not be liquidated, the Partnership’s liabilities shall not be paid or discharged, and the Partnership’s affairs shall not be wound up. Instead, solely for federal income tax purposes, the Partnership shall be deemed to have contributed all Partnership property Property and liabilities to a new limited partnership in exchange for an interest in such new limited partnership and, immediately thereafter, the Partnership will be deemed to liquidate by distributing interests in the new limited partnership to the Partners.

Deemed Contribution and Distribution. In the event the Partnership is liquidated within the meaning of Regulations Section 1.704l.704-1(b)(2)(ii)(gl(b)(2)(ii)(g) but no event described in Section 9.1 hereof Liquidating Event has occurred, the Partnership property Property shall not be liquidated, the Partnership’s liabilities shall not be paid or discharged, and the Partnership’s affairs shall not be wound up. Instead, solely for federal income tax purposesproposes, the Partnership shall be deemed to have contributed all Partnership property Property and liabilities to a new limited partnership in exchange for an interest in such new limited partnership and, and immediately thereafter, the Partnership will be deemed to liquidate by distributing interests in the new limited partnership to the Partners.

Deemed Contribution and Distribution. In the event the Partnership is liquidated within the meaning of Regulations Section 1.704-1(b)(2)(ii)(gl(b)(2)(ii)(g) of the Regulations but no event described in Section 9.1 hereof Liquidating Event has occurred, the Partnership property Property shall not be liquidated, the Partnership’s liabilities shall not be paid or discharged, and the Partnership’s affairs shall not be wound up. Instead, solely for federal income tax purposes, the Partnership shall be deemed to have contributed all Partnership property Property and liabilities to a new limited partnership in exchange for an interest in such new limited partnership and, immediately thereafter, the Partnership will be deemed to liquidate by distributing interests in the new limited partnership to the Partners.