Liquidation Distribution. Upon a dissolution and final termination of the Partnership, the General Partners (or in the event of a General Partner’s removal or termination and, if there is no remaining General Partner, any other Person selected by the Limited Partners) shall take account of the Partnership assets and liabilities, and the assets shall be liquidated as promptly as is consistent with obtaining the fair market value thereof, and the proceeds therefrom, to the extent sufficient therefor, shall be applied and distributed in accordance with Section 9.3 hereof.
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Samples: Rent and Lease Term (Behringer Harvard Short Term Opportunity Fund I Lp), Behringer Harvard Mid Term Value Enhancement Fund I Lp, Behringer Harvard Short Term Opportunity Fund I Lp
Liquidation Distribution. Upon a In the event of the dissolution and final termination of the Partnership, the General Partners Partner (or in the event the dissolution is caused by the Bankruptcy or Dissolution of a General Partner’s removal or termination and, if there is no remaining the General Partner, any other Person a person selected by a Majority Interest of the Limited Partners) shall take account act in an orderly manner as liquidating trustee and, in an orderly manner, shall wind up the affairs of the Partnership assets and, after paying all debts and liabilitiesliabilities of the Partnership, and the assets shall be liquidated as promptly as is consistent with obtaining the fair market value thereof, and the proceeds therefrom, to the extent sufficient thereforincluding all costs of dissolution, shall be applied and distributed distribute the remaining assets in accordance with Section 9.3 hereof.the following order of priority:
Appears in 1 contract
Samples: Einstein Noah Bagel Corp
