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 the process of liquidation shall be credited or charged to the Partners in the proportions set forth in Sections 6.2 and/or 6.3, as applicable at the time. Any property distributed in kind in the 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 interest in profits as specified in Section 6.2 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 the process of liquidation shall be credited or charged to the Partners in the proportions set forth in Sections 6.2 and/or 6.3, . as applicable at the time. Any property distributed in kind in the 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 interest in profits as specified in Section 6.2 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 the process of liquidation shall be credited or charged to the Partners in the proportions set forth of their interest in Sections 6.2 and/or 6.3, profits or losses as applicable at the timespecified in Section 6.1. Any property distributed in kind in 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 the property and shall be credited or charged to the Partners in the proportions of their interest interests in profits and losses as specified in Section 6.2 and/or 6.3, as applicable at the time6.1.

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 set forth of their interest in Sections 6.2 and/or 6.3, profits or losses as applicable at the timespecified in Section 6.1. Any property distributed in kind in 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 the property and shall be credited or charged to the Partners in the proportions of their interest interests in profits and losses as specified in Section 6.2 and/or 6.3, as applicable at the time6.1.