Common use of Upon dissolution Clause in Contracts

Upon dissolution. Upon dissolution of the Partnership, the General ---------------- Partner, or, if the dissolution is caused by the retirement, withdrawal, and/or adjudication of Bankruptcy of the last remaining General Partner, then the Limited Partners shall determine as speedily as possible whether or not the Partnership shall be reformed (as a limited partnership, general partnership, joint venture or similar organization) and its business continued under arrangements which make proper provision for its liabilities. In the event of such reformation, such reformation shall constitute the termination of the Partnership.