Final Terminating Event definition

Final Terminating Event means any one of the following: (i) the expiration of the Partnership’s fixed term; (ii) notice to the Participants by the Managing General Partner of its election to terminate the Partnership’s affairs; (iii) notice by the Participants to the Managing General Partner of their similar election through the affirmative vote of Participants whose Units equal a majority of the total Units; or (iv) the termination of the Partnership under §708(b)(1)(A) of the Code or the Partnership ceases to be a going concern.

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Final Terminating Event means any one of the following:

Final Terminating Event means any one of the following: (i) the expiration of the fixed term of the Partnership; (ii) the giving of notice to the Participants by the Managing General Partner of its election to terminate the affairs of the Partnership; (iii) the giving of notice by the Participants to the Managing General Partner of their similar election through the affirmative vote of Participants whose Agreed Subscriptions equal a majority of the Partnership Subscription; or (iv) the termination of the Partnership under .708(b)(1)(A) of the Code or the Partnership ceases to be a going concern.

Examples of Final Terminating Event in a sentence

• On the occurrence of a Final Terminating Event the affairs of the Partnership shall be wound up and there shall be distributed to each of the parties its Distribution Interest in the remaining Partnership assets.

• Other than the occurrence of a Final Terminating Event, the Partnership or any successor limited partnership shall not be wound up, but shall be continued by the parties and their respective successors as a successor limited partnership under all of the terms of this Agreement.

• Other than the occurrence of a Final Terminating Event, the Partnership or any successor limited partnership shall not be wound up, but shall be continued by the parties and their respective successors as a successor limited partnership under all the terms of this Agreement.

• Upon the occurrence of a Final Terminating Event, the affairs of the Partnership shall be wound up and there shall be distributed to each of the parties its Distribution Interest in the remaining assets of the Partnership.

• Upon the occurrence of a Final Terminating Event, the Managing Partner shall wind up the affairs of the Partnership and shall make a final accounting.

• Except upon the occurrence of a Final Terminating Event, the Partnership or any successor limited partnership shall not be wound up, but shall be continued by the parties and their respective successors as a successor limited partnership under all the terms of this Agreement.

• Promptly upon the occurrence of a Final Terminating Event, the Company will sell or convert to cash or cash-equivalent assets (which may include negotiable promissory notes, installment sales contracts, or similar instruments) and all non-cash assets of the Company.

• The Partnership shall terminate following the occurrence of a Final Terminating Event, or upon the occurrence of any event which under the Pennsylvania Revised Uniform Limited Partnership Act causes the dissolution of a limited partnership.

• Promptly upon the occurrence of a Final Terminating Event, the Partnership shall sell or convert to cash or cash-equivalent assets (which may include negotiable promissory notes, installment sales contracts, or similar instruments) all non-cash assets of the Partnership.

• Except upon the occurrence of a Final Terminating Event, the Company or any successor limited liability company shall not terminate, but shall continue as a successor limited liability company under all of the terms of this Agreement.

More Definitions of Final Terminating Event

Final Terminating Event means (a) the expiration of the fixed term of the Company or (b) the giving of notice to the Members by the Manager of its election to terminate and wind up the affairs of the Company. Promptly upon the occurrence of a Final Terminating Event, the Company will sell or convert to cash or cash-equivalent assets (which may include negotiable promissory notes, installment sales contracts, or similar instruments) and all non-cash assets of the Company. The Company will apply the assets first to the payment of all Company liabilities or to the setting up of reserves or escrow accounts for existing liabilities. The Company will allocate all items of income, gain, loss, deduction and credit among the parties in accordance with this Agreement and distribute all assets available for distribution to all parties in the ratio of the positive balances in their Capital Accounts.

Final Terminating Event means (a) the expiration of the fixed term of the Partnership or (b) the giving of notice to the Partners by the Managing Partner of its election to terminate and wind up the affairs of the Partnership. Promptly upon the occurrence of a Final Terminating Event, the Partnership shall sell or convert to cash or cash-equivalent assets (which may include negotiable promissory notes, installment sales contracts, or similar instruments) all non-cash assets of the Partnership. The Partnership shall apply the assets first to the payment of all Partnership liabilities or to the setting up of reserves or escrow accounts for existing liabilities. The Partnership shall allocate all items of income, gain, loss, deduction and credit among the parties in accordance with this Agreement and shall distribute all assets available for distribution to all parties in the ratio of the positive balances in their Capital Accounts.

Final Terminating Event means any one of the following: (i) the expiration of the Partnership’s fixed term;