NO DISTRIBUTION IN KIND. Notwithstanding the provisions of Section 9.2 which require the liquidation of the assets of the Venture, but subject to the order of priorities set forth therein, if on dissolution of the Venture the Liquidator determines that an immediate sale of part or all of the Venture's assets would be impractical or would cause undue loss to the Venturers, the Liquidator may, in its absolute discretion, defer for a reasonable time the liquidation of any assets except those necessary to satisfy liabilities of the Venture (other than those to Venturers) but shall not, under any circumstances, make any distributions in kind of property (other than cash or cash equivalents) to the Venturers unless agreed to in writing by all Venturers.
Appears in 4 contracts
Samples: Joint Venture Agreement, Joint Venture Agreement (InSight Imaging Services Corp.), Joint Venture Agreement (InSight Imaging Services Corp.)
NO DISTRIBUTION IN KIND. Notwithstanding the provisions of Section 9.2 which require the liquidation of the assets of the Venture, but subject to the order of priorities set forth therein, if on dissolution of the Venture the Liquidator determines that an immediate sale of part or all of the Venture's assets would be impractical or would cause undue loss to the Venturers, the Liquidator may, in its absolute discretion, defer for a reasonable time the liquidation of any assets except those necessary to satisfy liabilities of the Venture (other than those to Venturers) but shall not, under any circumstances, make any distributions in kind of property (other than cash or cash equivalents) to the Venturers unless agreed to in writing by all VenturersVentures.
Appears in 1 contract
Samples: Joint Venture Agreement (InSight Imaging Services Corp.)
NO DISTRIBUTION IN KIND. Notwithstanding the provisions of Section 9.2 which require the liquidation of the assets of the Venture, but subject to the order of priorities set forth therein, if on dissolution of the Venture the Liquidator determines that an immediate sale of part or all of the Venture's Venturer assets would be impractical or would cause undue loss to the Venturers, the Liquidator may, in its absolute discretion, defer for a reasonable time the liquidation of any assets except those necessary to satisfy liabilities of the Venture (other than those to Venturers) but shall not, under any circumstances, make any distributions in kind of property (other than cash or cash equivalents) to the Venturers unless agreed to in writing by all Venturers.
Appears in 1 contract
Samples: Joint Venture Agreement (InSight Imaging Services Corp.)
