Common use of Termination of Partnership Clause in Contracts

Termination of Partnership. (a) Upon the winding-up and dissolution of the Partnership unless continued pursuant to Sections 6.01 or 6.02, the Partnership shall be terminated as rapidly as business circumstances will reasonably permit. At the direction of the General Partner, or a Person approved by the Limited Partners) if the winding-up and dissolution of the Partnership is pursuant to Section 6.02(a)(ii) hereof (the General Partner or the other Person, as the case may be, being herein called the “Terminating Partner”), a full accounting of the assets and liabilities of the Partnership shall be taken and a statement of the Partnership Assets shall be furnished to all Partners as soon as is reasonably practicable.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Exterran Energy Solutions, L.P.), Limited Partnership Agreement (Exterran Energy Solutions, L.P.)

AutoNDA by SimpleDocs

Termination of Partnership. (a) Upon the winding-up and dissolution of the Partnership unless continued pursuant to Sections 6.01 or 6.02, the Partnership shall be terminated ------------- ---- as rapidly as business circumstances will reasonably permit. At the direction of the General Partner, or a Person approved by the Limited PartnersPartner(s) if the winding-up and dissolution of the Partnership is pursuant to Section 6.02(a)(ii) ------------------- hereof (the General Partner or the other Person, as the case may be, being herein called the "Terminating Partner"), a full accounting of the assets and liabilities of the Partnership shall be taken and a statement of the Partnership Assets shall be furnished to all Partners as soon as is reasonably practicable.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Hanover Compressor Co /), Limited Partnership Agreement (Hanover Compressor Co /)

Termination of Partnership. (a) Upon the winding-up and dissolution of the Partnership unless continued pursuant to Sections 6.01 or 6.02, the Partnership shall be terminated as rapidly as business circumstances will reasonably permit. At the direction of the General Partner, or a Person approved by the Limited PartnersPartner(s) if the winding-up and dissolution of the Partnership is pursuant to Section 6.02(a)(ii) hereof (the General Partner or the other Person, as the case may be, being herein called the "Terminating Partner"), a full accounting of the assets and liabilities of the Partnership shall be taken and a statement of the Partnership Assets shall be furnished to all Partners as soon as is reasonably practicable.

Appears in 1 contract

Samples: Limited Partnership Agreement (Hanover Compression Lp)

AutoNDA by SimpleDocs

Termination of Partnership. (a) Upon the winding-up and dissolution of the Partnership unless continued pursuant to Sections 6.01 or 6.02, the Partnership shall be terminated as rapidly as business circumstances will reasonably permit. At the direction of the General Partner, or a Person approved by the Limited PartnersPartner(s) if the winding-up and dissolution of the Partnership is pursuant to Section 6.02(a)(ii) hereof (the General Partner or the other Person, as the case may be, being herein called the “Terminating Partner”), a full accounting of the assets and liabilities of the Partnership shall be taken and a statement of the Partnership Assets shall be furnished to all Partners as soon as is reasonably practicable.

Appears in 1 contract

Samples: EES Leasing, LLC

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!