Common use of Voluntary Dissolution Clause in Contracts

Voluntary Dissolution. Subject to the other terms and conditions of this Agreement, the Partnership shall not be subject to dissolution, except as provided in Sections 7.5(a) and 13.2, during the Primary Term. Just prior to the end of the Primary Term, the Managing Partner shall, if required, properly file documents with the State of Delaware, and each calendar year thereafter, to extend the existence of the Partnership from year to year; provided, however, that a Partner may elect to dissolve the Partnership and terminate this Agreement after expiration of the Primary Term by giving the other Partners written notice of such election not less than four (4) months prior to the date such dissolution is to take effect.

Voluntary Dissolution. Subject to the other terms and conditions of this Agreement, the Partnership shall not be subject to dissolution, except as provided in Sections 7.5(a) and 13.2, during the Primary Term. Just Immediately prior to the end of the Primary Term, the Managing Partner shall, if required, properly file documents with the State of Delaware, and each calendar year thereafter, to extend the existence of the Partnership from year to year; provided, however, that a Partner may elect to dissolve the Partnership and terminate this Agreement after expiration of the Primary Term by giving the other Partners written notice of such election not less than four (4) months prior to the date such dissolution is to take effect.