Common use of Dissolution Winding Up and Termination Clause in Contracts

Dissolution Winding Up and Termination. 6.1. In General. Each Partner expressly waives any right which it might otherwise have to dissolve the Partnership except as set forth in this Section 6.1. The Partnership shall be dissolved only upon the occurrence of any of the following events: (i) the withdrawal, removal, bankruptcy, dissolution or liquidation of the General Partner; (ii) the vote by Partners holding a majority of the Capital Percentages to dissolve the Partnership; (iii) the occurrence of any other circumstance which, by law, would require the Partnership to be dissolved; or (iv) as provided in Section 1.3 hereof.

Appears in 2 contracts

Sources: Limited Partnership Agreement (Lyondell Refining LP, LLC), Limited Partnership Agreement (Lyondell Refining LP, LLC)