Common use of General Partner’s Discretion Clause in Contracts

General Partner’s Discretion. The winding up and dissolution of the Partnership's affairs and the liquidation and distribution of the Partnership's assets shall be conducted exclusively by the General Partner (or a trustee, if one is appointed), which is authorized to do any and all acts and things authorized by law for these purposes. Distributions in accordance with the provisions of this Section 12.6 or upon termination and dissolution of the Partnership will (i) constitute a complete return to the Partners of their interests in the profits of the Partnership and their Capital Contributions, (ii) a final and complete distribution to the Partners of all their interests in the Partnership properties, and (iii) a final termination and settlement of any and all of the Partners' other interests in the Partnership. 12.7

General Partner’s Discretion. The winding up and dissolution of the Partnership's affairs and the liquidation and distribution of the Partnership's assets shall be conducted exclusively by the General Partner (or a trustee, if one is appointed), which is authorized to do any and all acts and things authorized by law for these purposes. Distributions in accordance with the provisions of this Section 12.6 or upon termination and dissolution of the Partnership will (i) constitute a complete return to the Partners of their interests in the profits of the Partnership and their Capital Contributions, (ii) a final and complete distribution to the Partners of all their interests in the Partnership properties, and (iii) a final termination and settlement of any and all of the Partners' other interests in the Partnership. 20 21 12.7