Common use of Winding Up and Termination Clause in Contracts

Winding Up and Termination. Subject to Section 14.05, on dissolution of the Company, the Manager shall act as liquidating trustee or may appoint one or more Persons as liquidating trustee (each such Person, a “liquidator”). The liquidators shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Delaware Act. The costs of liquidation shall be borne as a Company expense. Until final distribution, the liquidators shall continue to operate the Company properties with all of the power and authority of the Manager. The steps to be accomplished by the liquidators are as follows:

Winding Up and Termination. Subject to Section 14.05, on On dissolution of the Company, the Manager Managing Member shall act as liquidating trustee or may appoint one or more Persons as liquidating trustee (each such Person, a “liquidator”)trustee. The liquidators liquidating trustee shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Delaware Act. The costs of liquidation winding up shall be borne as a Company expense. Until final distribution, the liquidators liquidating trustee shall continue to operate the Company properties with all of the power and authority of the ManagerManaging Member. The steps to be accomplished by the liquidators liquidating trustee are as follows:

Winding Up and Termination. Subject to Section 14.05, on On dissolution of the Company, the Manager Managing Member shall act as liquidating trustee or may appoint one or more Persons as liquidating trustee (each such Person, a “liquidator”)trustee. The liquidators liquidating trustee shall proceed diligently to wind up the affairs of the Company and make final distributions Distributions as provided herein and in the Delaware Act. The costs of liquidation winding up shall be borne as a Company expense. Until final distributionDistribution, the liquidators liquidating trustee shall continue to operate the Company properties with all of the power and authority of the ManagerManaging Member. The steps to be accomplished by the liquidators liquidating trustee are as follows:

Winding Up and Termination. Subject to Section 14.05, on dissolution of the Company, the Manager shall act as liquidating trustee or may appoint one or more Persons as liquidating trustee (each such Person, a “liquidatorLiquidator”). The liquidators Liquidators shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Delaware Act. The costs of liquidation shall be borne as a Company expensean expense of the Company. Until final distribution, the liquidators Liquidators shall continue to operate the properties of the Company properties with all of the power and authority of the Manager. The steps to be accomplished by the liquidators Liquidators are as follows:

Winding Up and Termination. Subject to Section 14.05, on On dissolution of the Company, the Manager shall act as liquidating trustee or may appoint one or more Persons as liquidating trustee (each such Person, a “liquidator”)trustee. The liquidators liquidating trustee shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Delaware Act. The costs of liquidation winding up shall be borne as a Company expense. Until final distribution, the liquidators liquidating trustee shall continue to operate the Company properties with all of the power and authority of the Manager. The steps to be accomplished by the liquidators liquidating trustee are as follows: