Common use of GAINS OR LOSSES IN PROCESS OF LIQUIDATION Clause in Contracts

GAINS OR LOSSES IN PROCESS OF LIQUIDATION. Any gain or loss ----------------------------------------- on disposition of Partnership properties in liquidation shall be credited or charged to the Partners in the proportions of their interest in profits or losses as specified in Section 6. 1. Any property distributed in kind as the result of liquidation shall be valued and treated as though the property were sold and the cash proceeds were distributed. The difference between the value of property distributed in kind and its book value shall be treated as a gain or loss on sale of property and shall be credited or charged to the Partners in the proportions of their interests in profits and losses as specified in Section 6.1.

GAINS OR LOSSES IN PROCESS OF LIQUIDATION. Any gain or loss ----------------------------------------- on disposition of Partnership properties in the process of liquidation shall be credited or charged to the Partners in the proportions of their interest set forth in profits or losses Sections 6.2 and/or 6.3, as specified in Section 6. 1applicable at the time. Any property distributed in kind as in the result of liquidation shall be valued and treated as though the property were sold and the cash proceeds were distributed. The difference between the value of property distributed in kind and its book value shall be treated as a gain or loss on sale of the property and shall be credited or charged to the Partners in the proportions of their interests interest in profits and losses as specified in Section 6.16.2 and/or 6.3, as applicable at the time.

GAINS OR LOSSES IN PROCESS OF LIQUIDATION. Any gain or loss ----------------------------------------- on disposition of Partnership properties in liquidation shall be credited or charged to the Partners in the proportions of their interest in profits or losses as specified in Section 6. 16.1. Any property distributed in kind as the result of liquidation shall be valued value and treated as though the property were sold and the cash proceeds were distributed. The difference between the value of property distributed in kind and its book value shall be treated as a gain or loss on sale of property and shall be credited or charged to the Partners in the proportions of their interests in profits and losses as specified in Section 6.1.

GAINS OR LOSSES IN PROCESS OF LIQUIDATION. Any gain or loss ----------------------------------------- on disposition of Partnership properties in the process of liquidation shall be credited or charged to the Partners in the proportions of their interest set forth in profits or losses Sections 6.2 and/or 6.3. as specified in Section 6. 1applicable at the time. Any property distributed in kind as in the result of liquidation shall be valued and treated as though the property were sold and the cash proceeds were distributed. The difference between the value of property distributed in kind and its book value shall be treated as a gain or loss on sale of the property and shall be credited or charged to the Partners in the proportions of their interests interest in profits and losses as specified in Section 6.16.2 and/or 6.3, as applicable at the time.