DISTRIBUTION OF PROCEEDS ON LIQUIDATION. Section 13.1. Upon dissolution, winding up and liquidation of the Company, the assets of the Company shall be liquidated and distributed in the following order of priority:
DISTRIBUTION OF PROCEEDS ON LIQUIDATION. The proceeds of liquidation shall be distributed, as realized, in payment of the liabilities of the Partnership in the following order: (a) to creditors of the Partnership; (b) to all of the Partners in respect of their capital accounts as determined pursuant to the provisions of this Agreement. The General Partners shall not be personally liable to the Limited Partners for any deficit in the Limited Partners’ capital accounts or for the return of their contributions. In the event of a liquidating distribution of the Partnership’s property in kind, the fair market value of such property shall be determined by an appraiser agreeable to the Partners and each Partner shall receive an undivided interest in such property equal to the portion of the proceeds to which he or she would be entitled under paragraph 7 hereof if such property were sold.
DISTRIBUTION OF PROCEEDS ON LIQUIDATION. Upon the dissolution and liquidation of the Company or upon the sale of all or substantially all of the Company's assets, the net proceeds therefrom shall be distributed to the Members, in the following priorities and amounts:
DISTRIBUTION OF PROCEEDS ON LIQUIDATION
