Common use of Liquidation; Winding Up and Distributions upon Dissolution Clause in Contracts

Liquidation; Winding Up and Distributions upon Dissolution. (A) Upon a dissolution, absent a reconstitution and continuation of the Partnership under Section 11.10., the Partnership shall commence to wind up its affairs and the Partners shall file appropriate documents of dissolution and proceed to effect the Liquidation of the Partnership pursuant to the procedures set forth in this Section 11.11.; provided, however, that in the event of a dissolution resulting from an event described in Section 11.9.(D), sufficient time shall be allowed prior to any liquidation or winding up of the Partnership to give effect to the remedies provided by Section 11.5. and Section 11.6. Notwithstanding any other provision of this Agreement, during the period of the winding up, the Nondefaulting Partners (or the Partnership Governance Committee if the Partners have agreed to terminate the Partnership or there are otherwise not Nondefaulting Partners) shall make all decisions relating to the conduct of any business or operations, and the sale or disposition of the Partnership's assets.

Liquidation; Winding Up and Distributions upon Dissolution. (A1) Upon a dissolution, absent a reconstitution and continuation of the Partnership under Section 11.10., the Partnership shall commence to wind up its affairs and the Partners shall file appropriate documents of dissolution and proceed to effect the Liquidation of the Partnership pursuant to the procedures set forth in this Section 11.11.; provided, however, that in the event of a dissolution resulting from an event described in Section 11.9.(D), sufficient time shall be allowed prior to any liquidation or winding up of the Partnership to give effect to the remedies provided by Section 11.5. and Section 11.6. Notwithstanding any other provision of this Agreement, during the period of the winding up, the Nondefaulting Partners (or the Partnership Governance Committee if the Partners have agreed to terminate the Partnership or there are otherwise not Nondefaulting Partners) shall make all decisions relating to the conduct of any business or operations, and the sale or disposition of the Partnership's assets.