Common use of Escheat of Distributions Clause in Contracts

Escheat of Distributions. If, upon termination and dissolution of the Partnership, there remains outstanding on the books of the Partnership (after a reasonable period of time determined in the sole discretion of the General Partners) a material amount of distribution checks which have not been negotiated for payment by the Limited Partners, the General Partners may, if deemed to be in the best interest of the Partnership, cause such amounts to be redistributed pro rata to Limited Partners of record on such final distribution date who have previously cashed all of their distribution checks; provided, however, that neither the General Partners nor the Partnership shall be liable for any subsequent claims for payment of such redistributed distributions. The General Partners are not required to make such a redistribution, in which case such amounts may eventually escheat to the appropriate state.

Escheat of Distributions. If, upon the termination and dissolution of the Partnership, there remains outstanding on the books of the Partnership (after a reasonable period of time determined in the sole discretion of the General Partners) a material amount of distribution Distribution checks which have not been negotiated for payment by the Limited Partners, the Managing General Partners Partner may, if deemed to be in the best interest interests of the Partnership, cause such amounts to be redistributed pro rata to Limited Partners of record on such final distribution date who have previously cashed all of their distribution Distribution checks; provided, however, that neither the General Partners nor the Partnership shall not be liable for any subsequent claims for payment of such redistributed distributionsDistributions. The Managing General Partners are Partner is not required to make such a redistribution, in which case such amounts may will eventually escheat to the appropriate state.