Common use of Distribution of Assets in Kind Clause in Contracts

Distribution of Assets in Kind. No Partner shall have the right to require any distribution of any assets of the Partnership in kind. If any assets of the Partnership are distributed in kind, such assets shall be distributed on the basis of their fair market value as reasonably determined by the General Partner. Any Partner entitled to any interest in such assets shall, unless otherwise determined by the General Partner, receive separate assets of the Partnership and not an interest as a tenant-in-common with other Partners so entitled in any asset being distributed.

Distribution of Assets in Kind. No Partner shall have the right to require any distribution of any assets of the Partnership in kind. If any assets of the Partnership are distributed in kind, such assets shall be distributed at the sole discretion of the General Partner on the basis of their respective fair market value values as reasonably determined by the Approval of the General Partner. Any Partner entitled to any interest in such assets shall, unless otherwise determined by the Approval of the General Partner, receive separate assets of the Partnership and not an interest as a tenant-in-common common, with other Partners so entitled entitled, in any each asset being distributed.

Distribution of Assets in Kind. No Partner shall have the right to require any distribution of any assets of the Partnership in kind. If any assets of the Partnership are distributed in kind, such assets shall be distributed on the basis of their fair market value as reasonably determined by the General PartnerPartners. Any Partner entitled to any interest in such assets shall, unless otherwise determined by the General Partner, receive separate assets of the Partnership Partnership, and not an interest as a tenant-in-common with other Partners so entitled in any each asset being distributed.