Common use of Distribution upon Winding Up Clause in Contracts

Distribution upon Winding Up. Upon the commencement of the winding up of the Partnership, the General Partner, or any other Person designated by the General Partner (the “Liquidation Agent”), shall take full account of the assets and liabilities of the Partnership and shall, unless the General Partner determines otherwise, liquidate the assets of the Partnership as promptly as is consistent with obtaining the fair value thereof and otherwise in accordance with Section 15(1) of the Act (to the extent applicable) and this Agreement. The proceeds of any liquidation shall be applied and distributed in the following order:

Distribution upon Winding Up. Upon the commencement of the winding up of the Partnership, the General Partner, or any other Person designated by the General Partner (the “Liquidation Agent”), shall take full account of the assets and liabilities of the Partnership and shall, unless the General Partner determines otherwise, liquidate the assets of the Partnership as promptly as is consistent with obtaining the fair value thereof and otherwise in accordance with Section 15(1) of the Act (to the extent applicable) and this Agreement. The proceeds of any liquidation shall be applied and distributed in the following order:

Distribution upon Winding Up. Upon the commencement of the winding up of the Partnership, affairs of the Partnership the General Partner, or any other Person designated by the General Partner (the “Liquidation Agent”), shall take full account of the assets and liabilities of the Partnership and shall, unless the General Partner determines otherwise, liquidate the assets of the Partnership as promptly as is consistent with obtaining the fair value thereof and otherwise in accordance with Section 15(1) of the Act (to the extent applicable) and this Agreementthereof. The proceeds of any liquidation shall be applied and distributed in the following order: