Common use of Procedure for Winding Up and Dissolution Clause in Contracts

Procedure for Winding Up and Dissolution. If the Partnership is dissolved, the General Partner shall wind up its affairs. On winding up of the Partnership, the assets of the Partnership shall be distributed, first to creditors of the Partnership, including Partners who are creditors, in satisfaction of the liabilities of the Partnership (whether by payment or the making of reasonable provision for payment thereof and including the satisfaction of all contingent, conditional and unmatured liabilities of the Partnership), and then to the Partners in accordance with Section 4.4 of this Agreement.

Procedure for Winding Up and Dissolution. If the Partnership is dissolved, the General Partner Board shall wind up its affairs. On winding up of the Partnership, the assets of the Partnership shall be distributed, first first, to creditors of the Partnership, including Partners who are creditors, ,in satisfaction of the liabilities of the Partnership (whether Partnership, and then, amounts in excess of any reserves deemed reasonably necessary by payment or the making of reasonable provision for payment thereof and including the satisfaction of Board to pay all contingent, conditional and unmatured liabilities of the Partnership), 's claims and then obligations shall be distributed to the Partners Interest Holders in accordance with Section 4.4 of this Agreementtheir Capital Accounts.

Procedure for Winding Up and Dissolution. If the Partnership is dissolved, the General Partner Management Committee shall wind up its affairs. On winding up of the Partnership, the assets of the Partnership shall be distributed, first to creditors of the Partnership, including Partners who are creditors, in satisfaction of the liabilities of the Partnership (whether by payment or the making of reasonable provision for payment thereof and including the satisfaction of all contingent, conditional and unmatured liabilities l abilities of the Partnership), and then to the Partners in accordance with Section 4.4 4.6 of this Agreement.