Distribution Upon Termination. Upon termination of this Trust, Trustee shall liquidate the Trust fund and provide a final account to the Company and the Committee. To the extent Trust assets are sufficient, the Trustee shall pay to each Participant the appropriate Benefit Amount. After its final account has been settled as provided in Section 7.1(c), Trustee shall return to the Company any assets remaining after the distributions described in this Section 8.3. Upon making such distributions, Trustee shall be relieved from all further liability. The powers of Trustee hereunder shall continue so long as any assets of the Trust fund remain in its hands.
Distribution Upon Termination. Upon a dissolution and termination of the Company, the Manager or, if the Member in its sole discretion determines, any other Person selected by the Member to act as a liquidating trustee (the Manager, in such capacity, or such other Person being referred to herein as the “Liquidating Trustee”) shall collect and marshal the Company’s assets, sell such assets as such Liquidating Trustee shall deem appropriate, provide for the payment of all of the legally enforceable obligations of the Company that are not then due and distribute the proceeds and all remaining assets of the Company in the following order of priority:
Distribution Upon Termination. When this Trust expires or is terminated in accordance with Section 6.1, the Trustee shall distribute the Trust Fund to Grantor less any full and adequate provision or reserves for any distributions to be made pursuant to any outstanding Demands under Sections 4.7 and 6.1.3 and any deductions authorized or required by Section 7.3.
Distribution Upon Termination. Upon termination of the Partnership, as provided herein, the following shall occur:
Distribution Upon Termination. If this Trust terminates under the provisions of Section 11.1(a), the Trustee shall liquidate the Trust Fund and, after its final account has been settled as provided in Article VI, shall distribute to the Company and the Bank the net balance of any Company Trust Assets and Bank Trust Assets, respectively, and the net balance of the Expense Account, remaining after all Benefits and expenses have been paid. Upon making such distribution, the Trustee shall be relieved from all further obligations. The powers of the Trustee hereunder shall continue so long as any assets of the Trust Fund (including claims against the Company or the Bank) remain in its hands.
Distribution Upon Termination. Upon the dissolution and termination of the Company, the Managers shall take full account of the Company's assets and liabilities, the assets shall be liquidated as promptly as is consistent with obtaining fair value therefor, and the proceeds therefrom, to the extent sufficient therefor, shall be applied and distributed in the following order:
Distribution Upon Termination. Upon the termination of the Partnership, the General Partners, or if there is none, such other Person required by law to wind up the Partnership's affairs, shall proceed with the liquidation of the Partnership (including, without limitation, the sale or other disposition of any remaining Properties and cancellation of the Certificate of Limited Partnership), and the net proceeds of such liquidation shall be applied and distributed in accordance with the provisions of Section 8.3(b) hereof. During the period of winding up, liquidation and the final termination of the Partnership, the General Partners or any Person performing such actions may exercise all of the powers granted to the General Partners herein, and they may adopt such plan, method or procedure of liquidation as they may deem reasonable in order to effectuate an orderly liquidation. If the General Partners shall perform the foregoing functions, they shall be compensated therefor as provided in Sections 6.4 and 8 hereof, and if such functions shall be performed by Persons other than the General Partners, such Persons shall be entitled to reasonable compensation from the Partnership for their services.
Distribution Upon Termination. Upon liquidation of the Partnership, the assets of the Partnership remaining after the payment, or reasonable provision therefor, of all Partnership liabilities (and the establishment of reasonable reserves for contingent liabilities) shall be distributed to the Partners in proportion to and to the extent of the positive balances of their respective Capital Accounts. This Section 6.05 is intended to comply with the requirements of Treasury Regulations Section 1.704-1(b)(2)(ii)(b)(2) and shall be interpreted and applied in a manner consistent therewith.
Distribution Upon Termination. 26 11.3 Amendment...........................................27
Distribution Upon Termination. 5.2.1 Upon the occurrence of a Termination Event, the liquidator winding up the affairs of the Partnership shall proceed to the distribution of the remaining amounts available to the Partners in accordance with Clause 3.1 after all liabilities of the Partnership have been satisfied or duly provided for.
