Deferral of Liquidation Sample Clauses

Deferral of Liquidation. 64 Section 15.5

Deferral of Liquidation. If at the time of liquidation the General Partner or other liquidator shall determine that an immediate sale of part or all of the Partnership assets could cause undue loss to the Partners, the liquidator may, in order to avoid loss, but only with the Consent of the Limited Partner, either defer liquidation and retain all or a portion of the assets or distribute all or a portion of the assets to the Partners in kind. In the event that the liquidator elects to distribute such assets in kind, the assets shall first be assigned a value (by appraisal by an independent appraiser) and the unrealized appreciation or depreciation in value of the assets shall be allocated to the Partners' Capital Accounts, as if such assets had been sold, in the manner described in Section 10.2, and such assets shall then be distributed to the Partners as provided herein. In applying the preceding sentence, the Project shall not be assigned a value less than the unamortized principal balance of any loan secured thereby.

Deferral of Liquidation. If the liquidator determines that an immediate sale of part or all of the Company's assets would cause undue loss to the Member, the liquidator may, to avoid the loss, either: (i) defer the liquidation of, and withhold from distribution for a reasonable time, any assets of the Company except those necessary to satisfy debts and liabilities of the Company (other than debts or liabilities to the Member); or (ii) distribute to the Member, in lieu of cash, the Company assets, and liquidate only those assets that are necessary to pay the debts and liabilities of the Company.

Deferral of Liquidation. TABLE OF CONTENTS (con't) ARTICLE XII ACCOUNTING MATTERS; BANK ACCOUNTS; PROPERTY

Deferral of Liquidation. Notwithstanding the provisions of Section 11.1, if the Manager shall determine that an immediate sale of part or all of the Company assets would cause undue loss to the Members, the Company shall either (i) defer liquidation of and withhold from distribution for a reasonable time, any assets of the Company, except those necessary to satisfy the Company's debts and obligations, or (ii) distribute the assets to the Members in-kind.

Deferral of Liquidation. Notwithstanding the provisions of Section 13.2 hereof, if the General Partner shall determine that an immediate sale of all or part of the Partnership’s assets would cause undue loss to the Partners, then the General Partner may notify the Partners or their representatives of such fact and, to avoid such loss, may, with the Approval of Partners, defer liquidation of and withhold from distribution for a reasonable time any assets of the Partnership not required to satisfy the Partnership’s debts and obligations. The General Partner may not so defer liquidation and distribution of the Partnership’s assets, however, to the extent prohibited by the laws of any jurisdiction in which the Partnership is then formed or qualified or with respect to the exercise by a Partner of the Forced Sale Procedure or any other forced liquidation of Property permitted by other Sections of this Agreement, nor may distribution of the Partnership’s assets be delayed beyond the later of (a) the end of the fiscal year in which Partnership’s Dissolution pursuant to Section 13.1 hereof occurs, and (b) 90 days after such Dissolution.