Common use of Reasonable Time for Winding Up Clause in Contracts

Reasonable Time for Winding Up. A reasonable time will be allowed for the orderly winding up of the business and affairs of the Partnership and the Series and the liquidation of the assets pursuant to Section 11.2(b) in order to minimize any losses otherwise attendant upon such winding-up. Distributions upon liquidation of the Partnership or Series (or any Limited Partner’s interest in the Partnership) and related adjustments will be made by the end of the Fiscal Year of the liquidation (or, if later, within ninety (90) days after the date of such liquidation) or as otherwise permitted by Treasury Regulations Section 1.704-1(b)(2)(ii)(b).

Appears in 2 contracts

Sources: Limited Liability Limited Partnership Agreement (TCP-ASC ACHI Series LLLP), Limited Liability Limited Partnership Agreement (TCP-ASC ACHI Series LLLP)

Reasonable Time for Winding Up. A reasonable time will be allowed for the orderly winding up of the business and affairs of the Partnership and the Series and the liquidation of the its assets pursuant to Section 11.2(b10.2(b) in order to minimize any losses otherwise attendant upon such winding-winding up. Distributions upon liquidation of the Partnership or Series (or any Limited Partner’s interest in the Partnership) and related adjustments will be made by the end of the Fiscal Taxable Year of the liquidation (or, if later, within ninety (90) 90 days after the date of such liquidation) or as otherwise permitted by Treasury Regulations Regulation Section 1.704-1(b)(2)(ii)(b).

Appears in 2 contracts

Sources: Limited Liability Limited Partnership Agreement (Ladder Capital Finance Holdings LLLP), Limited Liability Limited Partnership Agreement (Ladder Capital Corp)

Reasonable Time for Winding Up. A reasonable time will be allowed for the orderly winding up of the business and affairs of the Partnership and the or any Series and the liquidation of the its assets pursuant to Section 11.2(b10.2(b) in order to minimize any losses otherwise attendant upon such winding-winding up. Distributions upon liquidation of the Partnership or any Series (or any Limited Partner’s interest in the PartnershipPartnership or such Series) and related adjustments will be made by the end of the Fiscal Taxable Year of the liquidation (or, if later, within ninety (90) 90 days after the date of such liquidation) or as otherwise permitted by Treasury Regulations Regulation Section 1.704-1(b)(2)(ii)(b).

Appears in 2 contracts

Sources: Limited Liability Limited Partnership Agreement (Ladder Capital Corp), Limited Liability Limited Partnership Agreement (Ladder Capital Corp)

Reasonable Time for Winding Up. A reasonable time will be allowed for the orderly winding up of the business and affairs of the Partnership and the Series and the liquidation of the its assets pursuant to Section 11.2(b10.2(b) above in order to minimize any losses otherwise attendant upon such winding-winding up. Distributions upon liquidation of the Partnership or Series (or any Limited Partner’s Unitholder's interest in the Partnership) and related adjustments will be made by the end of the Fiscal Taxable Year of the liquidation (or, if later, within ninety (90) 90 days after the date of such liquidation) or as otherwise permitted by Treasury Regulations Regulation Section 1.704-1(b)(2)(ii)(b).

Appears in 2 contracts

Sources: Recapitalization Agreement (Grande Communications Holdings, Inc.), Limited Partnership Agreement (Grande Communications Holdings, Inc.)

Reasonable Time for Winding Up. A reasonable time will be allowed for the orderly winding up of the business and affairs of the Partnership and the Series and the liquidation of the its assets pursuant to Section 11.2(b10.2(b) in order to minimize any losses otherwise attendant upon such winding-winding up. Distributions upon liquidation of the Partnership or Series (or any Limited Partner’s interest in the Partnership) and related adjustments will be made by the end of the Fiscal Year of the liquidation (or, if later, within ninety (90) 90 days after the date of such liquidation) or as otherwise permitted by Treasury Regulations Regulation Section 1.704-1(b)(2)(ii)(b).

Appears in 1 contract

Sources: Limited Liability Limited Partnership Agreement (Ladder Capital Finance Corp)