Common use of Liquidating Fund Termination Clause in Contracts

Liquidating Fund Termination. (i) Notwithstanding any provision to the contrary herein, in the event a Participating Fund liquidates in a corporate dissolution taxed under Section 331 of the Code, or with the approval of a bankruptcy court pursuant to 11 U.S.C. § 503(b)(1)(A) (a “Liquidating Fund”), the Board of such Participating Fund may terminate and liquidate this Plan (a “Liquidating Fund Termination”) pursuant to the corporate dissolution exception of Treas. Reg. § 1.409A-3(j)(4)(ix)(A) with respect to Accounts attributable to the deferral of Compensation from such Participating Fund (“Affected Accounts”) by current or former members of the Board of such Participating Fund (“Affected Participants”).