Common use of Distributions on Dissolution Clause in Contracts

Distributions on Dissolution. ‌ Upon the occurrence of any of the events set forth in Section 14.1, the Partnership GP (or in the event of an occurrence specified in Section 14.1(c), such other Person as may be appointed by Ordinary Resolution) shall act as a receiver and liquidator of the assets of the Partnership and shall cause the assets of the Partnership to be liquidated and the proceeds thereof to be distributed as follows: (a) to pay any costs involved in the sale of the assets of the Partnership and to pay all amounts required to discharge any mortgages or encumbrances registered against the assets; (b) to pay all expenses incurred in the winding-up of the Partnership; (c) to pay all of the liabilities of the Partnership;‌ (d) to establish such reserves as the Partnership GP considers necessary; (e) to return to the Partnership GP the balance in its capital account; and (f) to pay the balance to the Limited Partners, pro rata in accordance with their respective Proportionate Shares. Such distribution may be made in cash or in kind or partly in each, all as the Partnership GP in its sole discretion may determine.‌

Distributions on Dissolution. ‌ Upon the occurrence of any of the events set forth in Section 14.113.1, the Partnership GP (or in the event of an occurrence specified in Section 14.1(c13.1(c), such other Person as may be appointed by Ordinary Resolution) shall act as a receiver and liquidator of the assets of the Partnership and shall cause the assets of the Partnership to be liquidated and the proceeds thereof to be distributed as follows: (a) to pay any costs involved in the sale of the assets of the Partnership and to pay all amounts required to discharge any mortgages or encumbrances registered against the assets; (b) to pay all expenses incurred in the winding-up of the Partnership; (c) to pay all of the liabilities of the Partnership;‌Partnership; (d) to establish such reserves as the Partnership GP considers necessary; (e) to return to the Partnership GP the balance in its capital account; and (f) to pay the balance to the Limited Partners, pro rata in accordance with their respective Proportionate Shares. Such distribution may be made in cash or in kind or partly in each, all as the Partnership GP in its sole discretion may determine.‌determine.

Distributions on Dissolution. ‌ Upon the occurrence of any of the events set forth in Section 14.113.1, the Partnership GP (or in the event of an occurrence specified in Section 14.1(c13.1(c), such other Person as may be appointed by Ordinary Resolution) shall act as a receiver and liquidator of the assets of the Partnership and shall cause the assets of the Partnership to be liquidated and the proceeds thereof to be distributed as follows: (a) to pay any costs involved in the sale of the assets of the Partnership and to pay all amounts required to discharge any mortgages or encumbrances registered against the assets; (b) to pay all expenses incurred in the winding-up of the Partnership;Partnership;‌ (c) to pay all of the liabilities of the Partnership;‌Partnership; (d) to establish such reserves as the Partnership GP considers necessary; (e) to return to the Partnership GP the balance in its capital account; and (f) to pay the balance to the Limited Partners, pro rata in accordance with their respective Proportionate Shares. Such distribution may be made in cash or in kind or partly in each, all as the Partnership GP in its sole discretion may determine.‌determine.

Distributions on Dissolution. ‌ Upon the occurrence of any of the events set forth in Section 14.1, the Partnership GP (or in the event of an occurrence specified in Section 14.1(c), such other Person as may be appointed by Ordinary Resolution) shall act as a receiver and liquidator of the assets of the Partnership and shall cause the assets of the Partnership to be liquidated and the proceeds thereof to be distributed as follows: (a) to pay any costs involved in the sale of the assets of the Partnership and to pay all amounts required to discharge any mortgages or encumbrances registered against the assets; (b) to pay all expenses incurred in the winding-up of the Partnership; (c) to pay all of the liabilities of the Partnership;‌Partnership; (d) to establish such reserves as the Partnership GP considers necessary; (e) to return to the Partnership GP the balance in its capital account; andand‌ (f) to pay the balance to the Limited Partners, pro rata in accordance with their respective Proportionate Shares. Such distribution may be made in cash or in kind or partly in each, all as the Partnership GP in its sole discretion may determine.‌determine.