Liquidation of the Partnership. Upon the dissolution of the Partnership under circumstances in which the business is not continued as provided in Section 20.2, no further business shall be conducted by the Partnership, except for the taking of such action as shall be necessary for the winding up of its business and affairs, the liquidation of its assets and/or the distribution of its assets to the Partners. Unless otherwise decided by the Partnership Committee, the Operator shall be the liquidating trustee for the Partnership. The winding up and liquidation of the Partnership shall consist of the sale of the properties of the Partnership, at the conclusion of which the Partnership shall terminate.
Liquidation of the Partnership. (a) If the Partnership is dissolved by agreement pursuant to Section 9.2 the Board of Directors shall proceed with the winding up of the Partnership, and the assets of the Partnership shall be applied and distributed as provided in this Section 9.4 If the Partnership is dissolved at the election of one of the Partners pursuant to Section 9.2, the electing Partner shall control the winding up and distribution of the assets of the Partnership.
Liquidation of the Partnership. 54 10.1 LIQUIDATION............................................. 54 10.2
Liquidation of the Partnership. Notwithstanding any other agreement between the Parties to the contrary, all Partnerships will be dissolved upon termination of this MOU and the assets and liabilities of each will be allocated per the requirements of each Limited Partnership Agreement or Operating Agreement, as applicable.
Liquidation of the Partnership. The Partnership Agreement provides the method of dissolving the partnership and the process for liquidating the partnership, including the preparation of final accounts and paying outstanding liabilities of the partnership.
Liquidation of the Partnership. In the absence of any written agreement to the contrary between the Partners, upon the dissolution of the Partnership, the business and assets of the Partnership shall be liquidated.
Liquidation of the Partnership and Liquidation of a Partner & ------------------------------------------------------------- Interest in the Partnership. ---------------------------
Liquidation of the Partnership. The General Partner shall use commercially reasonable efforts to have the Project and all other Partnership property listed for sale on or before the last day of the Operating Period. If, by such date, the General Partner has not taken such action and is not diligently pursuing such action, the General Partner shall forfeit the General Partner Investment.
Liquidation of the Partnership. Within five (5) days after the dissolution of the Partnership (other than a dissolution by reason of the acquisition by a Partner of all of the Project Property of the other Partner), each Partner shall contribute to the Partnership the amount of any negative balance in its Capital Account. Upon the dissolution of the Partnership (other than a dissolution by reason of the acquisition by a Partner of all of the Project Property of the other Partners), and in the absence of an election to reconstitute the Partnership pursuant to Section 10(b), the Partners shall wind up the Partnership's affairs by completing any business then in progress, liquidating its assets to the extent practicable and applying its funds or remaining assets in the following order of priority:
Liquidation of the Partnership. (a) Upon dissolution of the Partnership, the Partners shall apply and distribute the assets of the Partnership thereof as contemplated by this Article.
