Common use of Wind-Down Costs Clause in Contracts

Wind-Down Costs. Each party shall have the respective financial obligation set forth on the applicable Schedule with respect to any Fund Wind-Down Costs; provided that, notwithstanding the terms of the applicable Schedule, if Adviser or Administrator is the breaching party, Adviser or Administrator, as the case may be, shall be solely responsible for the payment of all Fund Wind-Down Costs for a Fund, if that Fund is closed and liquidated (and not transitioned to another trust) within three months of the termination of this Agreement.