Examples of Partnership Assets in a sentence
The liquidating trustee or trustees shall cause the Partnership to pay all debts, obligations and liabilities of the Partnership and all costs of liquidation and shall make appropriate provision for any present, future or contingent obligations or liabilities, in each case to the extent of the Partnership Assets.
Partners receiving a distribution of Partnership Assets in specie shall be bound by the provisions of any agreements relating to such Partnership Assets, to the extent such agreements so provide.
If at that time there are insufficient Partnership Assets available to pay the foregoing amount, the Defaulting Investor shall have no further rights in respect of the shortfall.
The General Partner shall be fully liable for such of the Partnership's debts, liabilities and obligations as exceed the Partnership Assets.
The Preferred Partner may at any time require the Manager to instruct the Auditors to conduct a special audit of the Partnership and Partnership Assets on behalf of the Partnership in order to ascertain whether the Investments fall within the Investment Policy.