Common use of Special Allocations Upon Liquidation Clause in Contracts

Special Allocations Upon Liquidation. Notwithstanding any provision in this Article 6 to the contrary, in the event that the Partnership disposes of all or substantially all of its assets in a transaction that will lead to a liquidation of the Partnership pursuant to Article 13 hereof, then any Net Income or Net Loss realized in connection with such transaction and thereafter (and, if necessary, constituent items of income, gain, loss and deduction) shall be specially allocated for such Partnership Year (and to the extent permitted by Section 761(c) of the Code, for the immediately preceding Partnership Year) among the Holders as required so as to cause liquidating distributions pursuant to Section 13.2.A(4) hereof to be made in the same amounts and proportions as would have resulted had such distributions instead been made pursuant to Article 5 hereof.

Appears in 18 contracts

Samples: CyrusOne Inc., Agreement (Shearson American REIT, Inc.), Hartman Short Term Income Properties XX, Inc.

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Special Allocations Upon Liquidation. Notwithstanding any provision in this Article 6 to the contrarycontrary but subject to Section 6.3, in the event that the Partnership disposes of all or substantially all of its assets in a transaction that will lead to a liquidation of the Partnership pursuant to Article 13 hereof, then any Net Income or Net Loss realized in connection with such transaction and thereafter (and, if necessaryin the discretion of the General Partner, constituent items of income, gain, loss and deduction) shall be specially allocated for such Partnership Year (and to the extent permitted by Section 761(c) of the Code, for the immediately preceding Partnership Year) among the Holders as required so as to cause liquidating distributions pursuant to Section 13.2.A(4) 13.2.A hereof to be made in the same amounts and proportions as would have resulted had such distributions instead been made pursuant to Article 5 hereof.

Appears in 8 contracts

Samples: Asset Purchase Agreement (Hudson Pacific Properties, Inc.), Original Partnership Agreement (GTJ REIT, Inc.), Hudson Pacific Properties, L.P.

Special Allocations Upon Liquidation. Notwithstanding any provision in this Article 6 V to the contrary, in the event that the Partnership disposes of all or substantially all of its assets in a transaction that will lead to a liquidation of the Partnership pursuant to Article 13 hereofXII, then any Net Income or Net Loss realized in connection with such transaction and thereafter (and, if necessary, constituent items of income, gain, loss and deduction) shall be specially allocated for such Partnership Fiscal Year or a later Fiscal Year (and to the extent permitted by Section Code section 761(c) of the Code), for the immediately preceding Partnership Fiscal Year) among the Holders as required so as to cause liquidating distributions pursuant to Section 13.2.A(412.3(a)(iii) hereof to be made in the same amounts and proportions as would have resulted had such distributions instead been made pursuant to Article 5 hereofIV.

Appears in 7 contracts

Samples: Agreement (Perella Weinberg Partners), Business Combination Agreement (FinTech Acquisition Corp. IV), Perella Weinberg Partners

Special Allocations Upon Liquidation. Notwithstanding any provision in this Article 6 to the contrary, in the event that if the Partnership disposes of all or substantially all of its assets in a transaction that will lead to a liquidation of the Partnership pursuant to Article 13 hereof, then any Net Income or Net Loss realized in connection with such transaction and thereafter (and, if necessary, constituent items of income, gain, loss and deduction) shall be specially allocated for such Partnership Year (and to the extent permitted by Section 761(c) of the Code, for the immediately preceding Partnership Year) among the Holders as required so as to cause liquidating distributions pursuant to Section 13.2.A(4) hereof to be made in the same amounts and proportions as would have resulted had such distributions instead been made pursuant to Article 5 hereof.

Appears in 2 contracts

Samples: Avenue N Holdings LLC, CareTrust REIT, Inc.

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Special Allocations Upon Liquidation. Notwithstanding any provision in this Article 6 to the contrary, in the event that if the Partnership disposes of all or substantially all of its assets in a transaction that will lead to a liquidation of the Partnership pursuant to Article 13 hereof, then any Net Income or Net Loss realized in connection with such transaction and thereafter (and, if necessary, constituent items of income, gain, loss and deduction) shall be specially allocated for such Partnership Year (and to the extent permitted by Section 761(c) of the Code, for the immediately all preceding Partnership YearYears) among the Holders as required so as to cause liquidating distributions pursuant to Section 13.2.A(413.2(a)(i) hereof to be made in the same amounts and proportions as would have resulted had such distributions instead been made pursuant to Article 5 hereof.

Appears in 1 contract

Samples: Limited Partnership Agreement (Five Point Holdings, LLC)

Special Allocations Upon Liquidation. Notwithstanding any ------------------------------------ provision in this Article 6 to the contrary, in the event that the Partnership disposes of all or substantially all of its assets in a transaction that will lead to a liquidation of the Partnership pursuant to Article 13 14 hereof, then any Net Income or Net Loss realized in connection with such transaction and thereafter (and, if necessary, constituent items of income, gain, loss and deduction) shall be specially allocated for such Partnership Year (and to the extent permitted by Section 761(c) of the Code, for the immediately preceding Partnership Year) among the Holders as required so as to cause liquidating distributions pursuant to Section 13.2.A(414.2.A(4) hereof to be made in the same amounts and proportions as would have resulted had such distributions instead been made pursuant to Article 5 hereof.

Appears in 1 contract

Samples: Westfield America Inc

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