Common use of Liquidation of Assets Clause in Contracts

Liquidation of Assets. (a) Upon the dissolution of the Fund as provided in Section 6.1 hereof, the Board of Managers shall promptly appoint the Administrator as the liquidator and the Administrator shall liquidate the business and administrative affairs of the Fund, except that if the Board of Managers does not appoint the Administrator as the liquidator or the Administrator is unable to perform this function, a liquidator elected by Members holding a majority of the total number of votes eligible to be cast by all Members shall promptly liquidate the business and administrative affairs of the Fund. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the Board of Managers or liquidator shall deem appropriate in its sole discretion as applicable) shall be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund as provided in Section 6.1 hereof, the Board of Managers shall promptly appoint the Administrator as the Managers, acting directly or through a liquidator and the Administrator it selects, shall liquidate the business and administrative affairs of the Fund, except that if the Board of Managers does not appoint the Administrator as the liquidator or the Administrator is unable to perform this function, a liquidator elected by Members holding a majority of the total number of votes eligible to be cast by all Members shall promptly liquidate the business and administrative affairs of the Fund. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the Board of Managers or liquidator shall deem appropriate in its sole discretion as applicable) shall be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund Company as provided in Section 6.1 hereof, the Board of Managers shall promptly appoint the Administrator as the liquidator and the Administrator shall liquidate the business and administrative affairs of the FundCompany, except that if the Board of Managers does not appoint the Administrator as the liquidator or the Administrator is unable to perform this function, a liquidator elected by Members holding a majority of the total number of votes eligible to be cast by all Members shall promptly liquidate the business and administrative affairs of the FundCompany. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the Board of Managers or liquidator shall deem appropriate in its sole discretion as applicable) shall be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund as provided in Section 6.1 hereof, the Board of Managers shall promptly appoint the Administrator Organizational Member as the liquidator and the Administrator Organizational Member shall liquidate the business and administrative affairs of the Fund, except that if the Board of Managers does not appoint the Administrator Organizational Member as the liquidator or the Administrator Organizational Member is unable to perform this function, a liquidator elected by Members holding a majority of the total number of votes eligible to be cast by all Members shall promptly liquidate the business and administrative affairs of the Fund. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the Board of Managers or liquidator shall deem appropriate in its sole discretion as applicable) shall be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund as provided in Section 6.1 hereof, one or more Managers or the Adviser, acting as liquidator under appointment by the Board of Managers shall promptly appoint the Administrator as the liquidator and the Administrator shall liquidate the business and administrative affairs of the Fund(or, except that if the Board of Managers does not appoint one or more Managers or the Administrator Adviser to act as the liquidator or the Administrator is unable to perform this function, a another liquidator elected by Members holding a majority of the total number of votes eligible to be cast by all Members Members), shall promptly liquidate liquidate, in an orderly manner, the business and administrative affairs of the Fund. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 Article V hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount amounts as the Board of Managers or liquidator shall deem the liquidator, as applicable, deems appropriate in its sole discretion as applicablediscretion) shall shall, subject to the Delaware Act, be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund as provided in Section 6.1 hereof, the Board of Managers Directors shall promptly appoint the Administrator as the liquidator the Management Services Provider or such other person as Board of Directors may determine, and the Administrator Management Services Provider or such other person shall liquidate the business and administrative wind up the affairs of the Fund, except that if the Board of Managers Directors does not appoint the Administrator as the liquidator or the Administrator is unable to perform this functiona liquidator, a liquidator elected by Members holding a majority of the total number of votes eligible to be cast by all Members shall promptly liquidate the business and administrative affairs of the Fund. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the Board of Managers Directors, the Management Services Provider or the liquidator shall deem appropriate in its sole discretion as applicable) shall be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund Company as provided in Section 6.1 hereof, the Board of Managers Directors shall promptly appoint the Administrator as the liquidator and the Administrator shall liquidate the business and administrative affairs of the FundCompany, except that if the Board of Managers Directors does not appoint the Administrator as the liquidator or the Administrator is unable to perform this function, a liquidator elected by Members holding a majority of the total number of votes eligible to be cast by all Members shall promptly liquidate the business and administrative affairs of the FundCompany. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the Board of Managers Directors or liquidator shall deem appropriate in its sole discretion as applicable) shall be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund Company as provided in Section 6.1 hereof, the Board of Managers shall promptly appoint the Administrator Management Services Provider as the liquidator and the Administrator Management Services Provider shall liquidate the business and administrative affairs of the FundCompany, except that if the Board of Managers does not appoint the Administrator Management Services Provider as the liquidator or the Administrator Management Services Provider is unable to perform this function, a liquidator elected by Members holding a majority of the total number of votes eligible to be cast by all Members shall promptly liquidate the business and administrative affairs of the FundCompany. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the Board of Managers or liquidator shall deem appropriate in its sole discretion as applicable) shall be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund as provided in Section 6.1 hereof, the Board of Managers Directors shall promptly appoint the Administrator as the liquidator and the Administrator shall liquidate the business and administrative affairs of the Fund, except that if the Board of Managers Directors does not appoint the Administrator as the liquidator or the Administrator is unable to perform this function, a liquidator elected by Members Partners holding a majority of the total number of votes eligible to be cast by all Members Partners shall promptly liquidate the business and administrative affairs of the Fund. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the Board of Managers Directors or liquidator shall deem appropriate in its sole discretion as applicable) shall be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund Company as provided in Section 6.1 hereof, the Board of Managers shall promptly appoint the Administrator Adviser as the liquidator and the Administrator Adviser shall liquidate the business and administrative wind up the affairs of the FundCompany, except that if the Board of Managers does not appoint the Administrator Adviser as the liquidator or the Administrator Adviser is unable to perform this function, a liquidator elected by Members holding a majority of the total number of votes eligible to be cast by all Members shall promptly liquidate the business and administrative affairs of the FundCompany. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the Board of Managers or liquidator shall deem appropriate in its sole discretion as applicable) shall be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund as provided in Section 6.1 hereof, the Board of Managers shall promptly appoint the Administrator Adviser as the liquidator and the Administrator Adviser shall liquidate the business and administrative wind up the affairs of the Fund, except that if the Board of Managers does not appoint the Administrator Adviser as the liquidator or the Administrator Adviser is unable to perform this function, a liquidator elected by Members holding a majority of the total number of votes eligible to be cast by all Members shall promptly liquidate the business and administrative affairs of the Fund. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the Board of Managers or liquidator shall deem appropriate in its sole discretion as applicable) shall be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund as provided in Section 6.1 hereof, the Board of Managers shall promptly appoint the Administrator as the Managers, acting directly or through a liquidator and the Administrator it selects, shall liquidate the business and administrative affairs of the Fund, except that if the Board of Managers does not appoint the Administrator as the liquidator or the Administrator is unable to perform this function, a liquidator elected by Members Investors holding a majority of the total number of votes eligible to be cast by all Members Investors shall promptly liquidate the business and administrative affairs of the Fund. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section Sections 5.4 and 5.7 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the Board of Managers or liquidator shall deem appropriate in its sole discretion as applicable) shall be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund as provided in Section 6.1 hereof, the Board of Managers shall promptly appoint the Administrator Marwood as the liquidator and the Administrator Marwood shall liquidate the assets, and wind up the business and administrative affairs of the Fund, except that if the Board of Managers does not appoint the Administrator Marwood as the liquidator or the Administrator Marwood is unable to perform this function, a liquidator elected by Members holding a majority of the total number of votes eligible to be cast by all Members shall promptly liquidate assets, and wind up the business and administrative affairs of the Fund. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the Board of Managers or liquidator shall deem appropriate in its sole and absolute discretion as applicable) shall be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund Company as provided in Section 6.1 hereof, the Board of Managers Directors shall promptly appoint the Administrator as the liquidator and the Administrator shall liquidate the business and administrative affairs of the FundCompany, except that if the Board of Managers Directors does not appoint the Administrator as the liquidator or the Administrator is unable to perform this function, a liquidator elected by Members holding a majority of the total number of votes eligible to be cast by all Members shall promptly liquidate the business and administrative affairs of the FundCompany. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the 21 Board of Managers Directors or liquidator shall deem appropriate in its sole discretion as applicable) shall be distributed in the following manner:

Liquidation of Assets. (a) Upon the dissolution of the Fund Company as provided in Section 6.1 hereof, the Board of Managers shall promptly appoint the Administrator Adviser as the liquidator and the Administrator Adviser shall liquidate the business and administrative affairs of the FundCompany, except that if the Board of Managers does not appoint the Administrator Adviser as the liquidator or the Administrator Adviser is unable to perform this function, a liquidator elected by Members holding a majority of the total number of votes eligible to be cast by all Members shall promptly liquidate the business and administrative affairs of the FundCompany. Net Profit and Net Loss during the period of liquidation shall be allocated pursuant to Section 5.4 hereof. The proceeds from liquidation (after establishment of appropriate reserves for contingencies in such amount as the Board of Managers or liquidator shall deem appropriate in its sole discretion as applicable) shall be distributed in the following manner: