Payment of Debts. The assets shall first be applied to the payment of the liabilities of the Partnership (other than any loans or advances that may have been made by Partners to the Partnership) and the expenses of liquidation. A reasonable time shall be allowed for the orderly liquidation of the assets of the Partnership and the discharge of liabilities to creditors so as to enable the General Partner to minimize any losses resulting from liquidation.
Appears in 24 contracts
Samples: Limited Partnership Agreement (Ashford Hospitality Prime, Inc.), Agreement of Limited Partnership (Innsuites Hospitality Trust), Agreement of Limited Partnership (Ashford Hospitality Trust Inc)
Payment of Debts. The assets shall first be applied to the payment satisfy of the liabilities of the Partnership (other than any loans or advances that may have been made by Limited Partners to the Partnership) and the expenses of liquidationliquidation (whether by payment or the making of reasonable provision for payment thereof). A reasonable time shall be allowed for the orderly liquidation of the assets of the Partnership and the discharge of liabilities to creditors so as to enable the General Partner to minimize any losses resulting from liquidation.
Appears in 1 contract
Samples: Limited Partnership Agreement (Carter Validus Mission Critical REIT, Inc.)
Payment of Debts. The assets shall first be applied to the payment of the liabilities of the Partnership (other than any loans or advances that may 37 have been made by Partners to the Partnership) and the expenses of liquidation. A reasonable time shall be allowed for the orderly liquidation of the assets of the Partnership and the discharge of liabilities to creditors so as to enable the General Partner to minimize any losses resulting from liquidation.
Appears in 1 contract
Samples: Limited Partnership Agreement (Ashford Hospitality Trust Inc)
