PRIORITY OF PAYMENTS AND DISTRIBUTIONS. In the event of a liquidation, the General Partner shall act as the liquidating trustee, unless events specified in subsection 7.3.1 have caused the dissolution leading to liquidation in which event the Limited Partners holding, in the aggregate, a majority of the Percentage Interests in the Partnership shall act as the liquidating trustee. The liquidating trustee shall immediately proceed to wind up and terminate the business and affairs of the Partnership. The assets of the Partnership, shall thereupon be distributed in the order of priority as set forth in subsections 7.4.3.1 through 7.4.3.3.
Appears in 10 contracts
Samples: www.sec.gov, Limited Partnership Agreement (Windstream Lexcom Wireless, LLC), Limited Partnership Agreement (Valor Telecommunications Southwest LLC)
PRIORITY OF PAYMENTS AND DISTRIBUTIONS. In the event of a liquidation, the General Partner shall act as the liquidating trustee, unless events specified in subsection 7.3.1 have caused the dissolution leading to liquidation in which event the Limited Partners holding, in the aggregate, a majority of the Percentage Interests in the Partnership shall act as the liquidating trustee. The liquidating trustee shall immediately proceed to wind up and terminate the business and affairs of the Partnership. The assets of the Partnership, shall thereupon be distributed in the order of priority as set forth in subsections 7.4.3.1 through 7.4.3.3.immediately
Appears in 1 contract
Samples: Limited Partnership Agreement (Harper Telephone L.P.)
