EXPENSES OF LIQUIDATOR(S). (a) The expenses incurred by the liquidator(s) in connection with winding up the Partnership, all other losses or liabilities of the Partnership incurred in accordance with the terms of this Agreement, and reasonable compensation for the services of the liquidator(s) shall be borne by the Partnership. (b) If the General Partner serves as the liquidator, it shall not be entitled to compensation for providing such services.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Urstadt Biddle Properties Inc), Limited Partnership Agreement (Urstadt Charles J)
EXPENSES OF LIQUIDATOR(S). (a) The expenses incurred by the ------------------------- liquidator(s) in connection with winding up the Partnership, all other losses or liabilities of the Partnership incurred in accordance with the terms of this Agreement, and reasonable compensation for the services of the liquidator(s) shall be borne by the Partnership.
(b) If the General Partner serves as the liquidator, it shall not be entitled to compensation for providing such services.
Appears in 1 contract
EXPENSES OF LIQUIDATOR(S). (a) 10.3.1 The expenses incurred by the liquidator(s) in connection with winding up the Partnership, all other losses or liabilities of the Partnership incurred in accordance with the terms of this Agreement, and reasonable compensation for the services of the liquidator(s) shall be borne by the Partnership, provided, however, that no Management Fee shall be paid at the time and in respect of any period that such compensation is paid.
(b) 10.3.2 If the General Partner serves as the liquidator, it shall not be entitled to additional compensation for providing services in such servicescapacity.
Appears in 1 contract
Samples: Limited Partnership Agreement