Liquidating Trustee. In the event of a dissolution of the Company, liquidation of the assets of the Company and discharge of its liabilities may, in the sole discretion of the Manager, be carried out by a liquidation trustee or receiver, who shall be selected by the Manager and shall be a bank or trust company or other person or firm having experience in managing, liquidating or otherwise handling property of the type then owned by the Company. This trustee (the “Liquidating Trustee”) shall not be personally liable for the debts of the Company but otherwise shall have such obligations and authorities as are given the Manager pursuant to this Agreement.
Appears in 10 contracts
Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
Liquidating Trustee. In the event of a dissolution of the Company, the liquidation of its assets and the assets of the Company and discharge of its liabilities may, in the sole discretion of the Manager, may be carried out by a liquidation liquidating trustee or receiver, receiver who shall be selected by the Manager and shall be a bank or trust company or other person or firm having experience in managing, liquidating liquidating, or otherwise handling property of the type then owned by the Company. This Any such liquidating trustee (or receiver shall be designated by the “Liquidating Trustee”) Managers. A liquidating trustee shall not be personally liable for the debts of the Company but otherwise shall have such obligations and authorities as are given the Manager Managers pursuant to this AgreementAgreement or as may be agreed upon between the Members and said liquidating trustee.
Appears in 4 contracts
Samples: Operating Agreement (Cavalier Holdings, Inc.), Operating Agreement (Sparking Events, Inc.), Operating Agreement (Sparking Events, Inc.)
Liquidating Trustee. In the event of a dissolution of the Company, liquidation of the assets of the Company and discharge of its liabilities may, in the sole discretion of the Manager, be carried out by a liquidation trustee or receiver, who shall be selected by the Manager and shall be a bank or trust company or other person or firm having experience in managing, liquidating or otherwise handling property of the type then owned by the Company. This trustee (the “"Liquidating Trustee”") shall not be personally liable for the debts of the Company but otherwise shall have such obligations and authorities as are given the Manager pursuant to this Agreement.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
