HomeMy WebLinkAbout1871 ' ' • .
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orderly liquidation of the assets of the Partnership and
the discharge of liabilities to creditors so as to enable .
the G~neral Partner to minimize the losses normally at-
tendant upon a liquidation. ~
Each of the Partners shall be furnished
with a stater~ent prepared by th~ Partnership's then ac-
aountants which shall set forth the assets and liabilities
of the Partnership as at the_date of complete liquidation. _
Up4a co:npliance by the Gex:eralPartner with the foregoing
dis~ibution gla.~, the ~~~~~a p?rt~e~ShiD shall cease to be -
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such, and th~ General Partner shall execute, acknowledqe
- and cause to be filed a certificate .of cancellation of the .
Partnership; ho;,Tever, the General Partner shall retain
full authority to direct th~ attorney escrowee in respect
. of the disbursem~at and/or the distribution of the funds,
~ if any, held by ;~i~ pursuant to the provisions of subdi- ~
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. vision " (ii) " of this Article. - ~
The General Partner shall not be personally
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liable for the rptttrn of the capital contributions of any
_ L~aited Partner or ar.y portion therzof c:hich shall bz
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' made solely fro:l Part:~ershi~ asssts
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C ~ 19. 1o t•'i Lh~ra:: al b-~ L~ r::i `~d ~artr.~r .
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No Li~.-?ited Partr.er at ani~ tirie shall with-
- drac•r from tr,e Partr.zrship. Hoc~:ever, such restriction
shall not prev~r.t-th~ suDStitution of a Limited Partn~r -
in the plac~ and stead of the Linited Partner if the ap-
plicable terns and conditions of Article "13" a~e co:~:~lied ~
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