Common use of Dissolution and Final Liquidation Clause in Contracts

Dissolution and Final Liquidation. (a) Upon any dissolution of the Partnership, the Partnership shall not terminate, but shall cease to engage in further business except to the extent necessary to perform existing contracts and preserve the value of its assets. Its assets shall be liquidated and its affairs shall be wound up as soon as practical thereafter by HM and the Investor Representatives, or if for any reason there is no General Partner or Investor Representative, by another Person designated by a Majority Vote of the Partners. In winding up the Partnership and liquidating assets, HM, or other Person so designated for such purpose, may arrange, either by itself or through others, for the collection and disbursement to the Partners of any future receipts from the Hospital or other sums to which the Partnership may be entitled, or may sell the Partnership's interest in the Hospital and the Equipment to any person, including HM or any Affiliate thereof, on such terms and for such consideration as shall be consistent with obtaining the fair market value thereof.

Dissolution and Final Liquidation. (a) Upon any dissolution of the PartnershipCompany, the Partnership Company shall not terminate, but shall cease to engage in further business except to the extent necessary to perform existing contracts and preserve the value of its assets. Its assets shall be liquidated and its affairs shall be wound up as soon as practical thereafter by HM MedCath and the Investor RepresentativesManager, or if for any reason there is no General Partner or Investor RepresentativeManager, by another Person person (including a corporation, firm, or entity) designated by a Majority Vote of the PartnersMembers. In winding up the Partnership Company and liquidating assets, HMMedCath, or other Person person so designated for such purpose, may arrange, either by itself or through others, for the collection and disbursement to the Partners Members of any future receipts from the Hospital or other sums to which the Partnership Company may be entitled, or may sell the PartnershipCompany's interest in the Hospital and the Equipment to any person, including HM MedCath or any Affiliate thereof, on such terms and for such consideration as shall be consistent with obtaining the fair market value thereof.

Dissolution and Final Liquidation. (a) Upon any dissolution of the Partnership, the Partnership shall not terminate, but shall cease to engage in further business except to the extent necessary to perform existing contracts and preserve the value of its assets. Its assets shall be liquidated and its affairs shall be wound up as soon as practical thereafter by HM and the Investor RepresentativesGeneral Partner, or if for any reason there is no General Partner or Investor RepresentativePartner, by another Person designated by HPHI and a Majority Vote of the Investor Limited Partners. In winding up the Partnership and liquidating assets, HMthe General Partner, or other Person so designated for such purpose, may arrange, either by itself directly or through others, for the collection and disbursement to the Partners of any future receipts from the Hospital or other sums to which the Partnership may be entitled, or may and shall sell the Partnership's ’s interest in the Hospital and the Equipment to any personPerson, including HM the General Partner or any Affiliate thereof, on such terms and for such consideration as shall be consistent with obtaining the fair market value thereof, as such fair market value is approved by HPHI and a Majority Vote of the Investor Limited Partners.