Common use of Statement of Dissolution Clause in Contracts

Statement of Dissolution. On completion of the distribution of Partnership assets as provided in this Article X, the Partners (or such other Person or Persons as the Act may require or permit) shall file a statement of dissolution with the Secretary of State of the State of Delaware, cancel any other filings made pursuant to Section 2.5, and take such other actions as may be necessary to terminate the existence of the Partnership. Upon the filing of such statement of dissolution, the existence of the Partnership shall terminate (and the Term shall end), except as may be otherwise provided by the Act or other applicable Law.