Disposition of Assets Upon Dissolution. Upon any dissolution of the Partnership, subject to the provisions of Section 13.5 hereof, all assets shall be sold and the proceeds distributed, or the assets distributed in kind if the Partners so elect, to the Partners in the manner and the priority provided for in Section 8.3.
Disposition of Assets Upon Dissolution. Upon dissolution of the Auxiliary or the cessation of its operations under this Agreement, its assets remaining after payment, or provisions for payment, of all debts and liabilities shall be distributed to either (i) such organization organized and operated exclusively for educational purposes in support of the District, which has established its tax-exempt status under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, or (ii) a state or political subdivision of a state of the United States to be used exclusively for public purposes. That organization shall be the District if it qualifies as such at the time of disposition, for its exclusive benefit.
Disposition of Assets Upon Dissolution. 7 12. ACCOUNTING. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7
Disposition of Assets Upon Dissolution. Any net assets remaining after payment of liabilities and expenses shall be distributed on a pro rata basis in accordance with the amounts provided by each party up to the date of dissolution.
Disposition of Assets Upon Dissolution. The Entities agree that if the MPO formed under this JPA is dissolved or for whatever reason otherwise ceases to exist, any remaining funds and equipment associated with the MPO will be disposed of as follows:
Disposition of Assets Upon Dissolution. Upon any dissolution of the Company, the Member shall take full account of the Company assets and liabilities, shall liquidate the assets as promptly as is consistent with obtaining the fair value thereof and the proceeds from such liquidation shall be distributed, or the assets distributed in kind if the Member so elects, to the Member. Notwithstanding the foregoing, if the Member determines that an immediate sale or disposition of part or all of the Company assets would cause undue loss to the Member, the Member, in order to avoid such loss, may, after having given notification to the Member, either defer liquidation of and withhold from distribution for a period determined by it any assets of the Company except those necessary to satisfy the Company's debts and obligations, or distribute the assets to the Member in kind.
