Common use of Distributions on Liquidation Clause in Contracts

Distributions on Liquidation. In the event the Partnership is liquidated within the meaning of Treasury Regulation §1.704-l(b)(2)(ii)(g), distributions shall be made in an amount equal to the positive balance in the Capital Account of each Partner whose Partnership Interest is being liquidated as that account is determined after all adjustments to such account for the Fiscal Year of the Partnership during which the liquidation occurs as are required by Treasury Regulations §1.704-l(b). Such adjustments shall be made within the time specified in such Treasury Regulations.

Distributions on Liquidation. In the event the Partnership is liquidated within the meaning of Treasury Regulation §1.704-l(b)(2)(ii)(g1(b)(2)(ii)(g), . distributions shall be made in an amount equal to the positive balance in the Capital Account of each Partner whose Partnership Interest is being liquidated as that account is determined after all adjustments to such account for the Fiscal Year of the Partnership during which the liquidation occurs as are required by Treasury Regulations §1.704-l(b1(b). Such adjustments shall be made within the time specified in such Treasury Regulations.