Term Dissolution and Termination Sample Clauses

Term Dissolution and Termination. The term of the Partnership shall begin on the date of the filing of the Certificate pursuant to Section 6, and the Partnership shall continue to exist from the date thereof until terminated by consent of the General Partner and all Limited Partners. Upon the dissolution or retirement of a general partner, the Partnership shall not be dissolved unless (i) the then remaining general partners of the Partnership, if any, elect to dissolve the Partnership, or (ii), in the event there is no remaining general partner of the Partnership, the then current limited partners holding a majority of the limited partnership interests of the Partnership fail, within 90 days of such event, to (1) elect to continue the Partnership and (2) appoint, effective as of the date of such event, one or more additional general partners of the Partnership. Upon any termination or dissolution of the Partnership, the assets of the Partnership shall, after satisfaction of all Partnership debts or due provision therefor, be divided among the Partners according to their percentage interests in the Partnership.