Common use of Time of Liquidating Distribution Clause in Contracts

Time of Liquidating Distribution. To the extent practicable and in accordance with sound business practices in the judgment of the Managing General Partner, liquidating distributions shall be made by: (i) the end of the taxable year in which liquidation occurs, determined without regard to ss.706(c)(2)(A) of the Code; or (ii) if later, within 90 days after the date of the liquidation. Notwithstanding, the following amounts are not required to be distributed within the foregoing time periods so long as the withheld amounts are distributed as soon as practical: (i) amounts withheld for reserves reasonably required for liabilities of the Partnership; and (ii) installment obligations owed to the Partnership.

Time of Liquidating Distribution. To the extent practicable and in accordance with sound business practices in the judgment of the Managing General Partner, liquidating distributions shall be made by: (i) the end of the taxable year in which liquidation occurs, determined without regard to ss.706(c)(2)(A§706(c)(2)(A) of the Code; or (ii) if later, within 90 days after the date of the liquidation. Notwithstanding, the following amounts are not required to be distributed within the foregoing time periods so long as the withheld amounts are distributed as soon as practical: (i) amounts withheld for reserves reasonably required for liabilities of the Partnership; and (ii) installment obligations owed to the Partnership.

Time of Liquidating Distribution. To the extent practicable and in accordance with sound business practices in the judgment of the Managing General Partner, liquidating distributions shall be made by: (i) the end of the taxable year in which liquidation occurs, determined without regard to ss.706(c)(2)(ASection 706(c)(2)(A) of the Code; or (ii) if later, within 90 days after the date of the liquidation. Notwithstanding, the following amounts are not required to be distributed within the foregoing time periods so long as the withheld amounts are distributed as soon as practical: (i) amounts withheld for reserves reasonably required for liabilities of the Partnership; and (ii) installment obligations owed to the Partnership.