Common use of Liquidating Distributions Clause in Contracts

Liquidating Distributions. Each holder of LTIP Units shall also be entitled to receive, if, when and as authorized by the General Partner out of funds or other property legally available for the payment of distributions, distributions upon liquidation of the Partnership in an amount equal to the positive balance of such holder’s Capital Account as of the date of liquidation (after taking into account any allocations pursuant to the liquidation) to the extent attributable to the ownership of such LTIP Units as set forth in Section 13.2 of the Agreement.

Liquidating Distributions. Each holder Holders of LTIP Units shall also be entitled to receive, if, when and as authorized by the General Partner out of funds or other property legally available for the payment of distributions, distributions upon liquidation of the Partnership in an amount equal to the positive balance balances of the Capital Accounts of the holders of such holder’s Capital Account as of the date of liquidation (after taking into account any allocations pursuant to the liquidation) LTIP Units to the extent attributable to the ownership of such LTIP Units as set forth in Section 13.2 5.06(a) of the Agreement.

Liquidating Distributions. Each holder Holders of LTIP Units shall also be entitled to receive, if, when and as authorized by the General Partner out of funds or other property legally available for the payment of distributions, distributions upon liquidation the occurrence of the Partnership a Liquidating Event or representing proceeds from a Terminating Capital Transaction in an amount equal to the positive balance of such holder’s Capital Account as of the date of liquidation (after taking into account any allocations pursuant to the liquidation) to the extent attributable to the ownership of such LTIP Units as set forth in accordance with Section 13.2 of the Agreement13.2.