Duties of the Liquidator Sample Clauses

Duties of the Liquidator. The Liquidator shall proceed without any unnecessary delay to sell and otherwise liquidate the Partnership Property; provided, however, that if the Liquidator shall determine that an immediate Sale of part or all of the Partnership Property would cause undue loss to the Partners144, the Liquidator may (but shall not be required to) defer the liquidation of the Partnership Property for a reasonable time in order to avoid such loss, except for such liquidation as may be necessary to satisfy the debts and liabilities of the Partnership to Persons and parties other than the Partners. The proceeds from the sale and liquidation of the Partnership Property shall be distributed as provided in this Article 11.
Sample 1
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