Duration of Liquidation. (a) A reasonable time shall be allowed for the winding up of the affairs of the Partnership in order to minimize any losses otherwise attendant upon such a winding up. (b) The liquidator(s) shall use their reasonable efforts to carry out the liquidation in conformity with the timing requirements of Treasury Regulation Section 1.704-1(b)(2)(ii)(g), but will not be bound to do so or liable in any way to any Partner for failure to do so.
Appears in 1 contract
Sources: Limited Partnership Agreement (Plymouth Opportunity REIT Inc.)
Duration of Liquidation. (a) A reasonable time shall be allowed for the winding up of the affairs of the Partnership in order to minimize any losses that might otherwise attendant upon such a winding up.
(b) result. The liquidator(s) liquidator shall use their commercially reasonable efforts to carry out the liquidation in conformity with the timing requirements of Treasury Regulation Regulation
Section 1.7041. 704-1(b)(2)(ii)(g), but will not be bound to do so or liable in any way to any Partner for failure to do so.
Appears in 1 contract
Sources: Limited Partnership Agreement
Duration of Liquidation. (a) A reasonable time shall be allowed for the winding up of the affairs of the Partnership Partnership, in order to minimize any losses otherwise attendant upon such a winding up.
(b) . The liquidator(s) shall use their reasonable best efforts to carry out the liquidation in conformity with the timing requirements of Treasury Regulation Section section 1.704-1(b)(2)(ii)(g), but will not be bound to do so so, or liable in any way to any Partner for failure to do so.
Appears in 1 contract
Sources: Limited Partnership Agreement
Duration of Liquidation. (a) A reasonable time shall be allowed for the winding up of the affairs of the Partnership in order to minimize any losses otherwise attendant upon such a winding up.
(b) The liquidator(s) shall use their reasonable efforts to carry out the liquidation in conformity with the timing requirements of Treasury Regulation Section 1.704-1(b)(2)(ii)(g1.7041 (b)(2)(ii)(g), but will not be bound to do so or liable in any way to any Partner for failure to do so.
Appears in 1 contract
Sources: Limited Partnership Agreement (Plymouth Opportunity REIT Inc.)
Duration of Liquidation. (a) A reasonable time shall be allowed for ----------------------- the winding up of the affairs of the Partnership in order to minimize any losses otherwise attendant upon such a winding up.
(b) The , provided that the liquidator(s) shall use their reasonable best efforts to carry out the liquidation in conformity with the timing requirements of Treasury Regulation Section 1.704-1(b)(2)(ii)(gl(b)(2)(ii)(g), but will not be bound to do so or liable in any way to any Partner for failure to do so.. -
Appears in 1 contract