Distributions of Assets. Upon a dissolution of the Partnership, the General Partner (or, if there is no General Partner then remaining, such other Person(s) designated as the liquidator of the Partnership by the Special Limited Partner or by the court in a judicial dissolution) shall take full account of the Partnership assets and liabilities and shall liquidate the assets as promptly as is consistent with obtaining the fair value thereof.
Appears in 22 contracts
Samples: Certification and Agreement (WNC Housing Tax Credit Fund v Lp Series 4), Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 7), Development Fee Agreement (WNC Housing Tax Credit Fund v Lp Series 4)
Distributions of Assets. Upon a dissolution of the Partnership, the General Partner (or, if there is no General Partner then remaining, such other Person(s) designated as the liquidator of the Partnership by the Special Limited Partner or by the court in a judicial dissolution) shall take full account of the Partnership assets and liabilities and shall liquidate the assets as promptly as is consistent with obtaining the fair value thereof.
Appears in 2 contracts
Samples: Operating Budget Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5), Certification and Agreement (WNC Housing Tax Credit Fund v Lp Series 4)
Distributions of Assets. Upon a dissolution of the Partnership, the General Partner (or, if there is no General Partner then remaining, such other Person(s) designated as the liquidator of the Partnership by the Class A Special Limited Partner or by the court in a judicial dissolution) shall take full account of the Partnership assets and liabilities and shall liquidate the assets as promptly as is consistent with obtaining the fair value thereof.
Appears in 1 contract
Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)
Distributions of Assets. Upon a dissolution of the Partnership, the General Partner (or, if there is no General Partner then remaining, such other Person(s) designated as the liquidator of the Partnership by the Special Limited Partner SLP Class A or by the court in a judicial dissolution) shall take full account of the Partnership assets and liabilities and shall liquidate the assets as promptly as is consistent with obtaining the fair value thereof.
Appears in 1 contract
Samples: Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)
