Common use of Liquidation A Clause in Contracts

Liquidation A. As soon as practical after the dissolution of the Fund, the General Partners, or if there are no General Partners, any Limited Partner or the liquidating trustee under the Act, as the case may be, shall give Notification to all the Limited Partners and Investors of such fact and shall prepare a plan as to whether and in what manner the Fund Property shall be liquidated. By the Majority Vote of the Investors, the assets of the Fund, subject to its liabilities (and the establishment of reserves, if necessary, for such liabilities), may be transferred to a successor Entity, upon such terms and conditions as are then agreed upon.