Common use of Continuance of Liquidating Trust for Winding Up Clause in Contracts

Continuance of Liquidating Trust for Winding Up. After the termination of the Liquidating Trust and for the purpose of liquidating and winding up the affairs of the Liquidating Trust, the Liquidating Trustee shall continue to act as such until the Liquidating Trustee’s duties have been fully performed, including, without limitation, such tasks as necessary to wind-up the affairs of the Liquidating Trust. After the termination of the Liquidating Trust, the Liquidating Trustee shall retain for a period of thirty (30) days the books, records, Beneficiary lists, and certificates and other documents and files which shall have been delivered to or created by the Liquidating Trustee. At the Liquidating Trustee’s discretion, all of such records and documents may, but need not, be destroyed at any time after such thirty day period. Except as otherwise specifically provided herein, upon the discharge of all liabilities of the Liquidating Trust and final Distributions pursuant to this Liquidating Trust Agreement, the Liquidating Trustee shall have no further duties or obligations hereunder. For the avoidance of doubt, the limitations on liability contained in this Liquidating Trust Agreement shall apply to any actions taken by the Liquidating Trustee during the course of winding up the affairs of the Liquidating Trust.

Continuance of Liquidating Trust for Winding Up. After the termination of the a Liquidating Trust Subtrust and for the purpose of liquidating and winding up the affairs of the such Liquidating TrustSubtrust, the Liquidating Trustee shall continue to act as such until the Liquidating Trustee’s duties have been fully performed, including, without limitation, including such post-distribution tasks as necessary to wind-wind up the affairs of the such Liquidating TrustSubtrust. After the termination of the a Liquidating TrustSubtrust, the Liquidating Trustee shall retain for a period of thirty (30) days six months the books, records, Beneficiary lists, and certificates and other documents and files which shall have been delivered to or created by the Liquidating Trustee. At the Liquidating Trustee’s discretion, all of such records and documents may, but need not, be destroyed at any time after six months from the completion and winding up of the affairs of such thirty day periodLiquidating Subtrust; provided, however, that prior to any such destruction of records, notice of the Liquidating Trustee’s intention to destroy records shall be provided to the Governmental Units which regulate or regulated the Contributing Debtors. Except as otherwise specifically provided herein, upon the discharge of all liabilities of the Liquidating Trust and final Distributions pursuant to this Final Distribution of the Liquidating Trust AgreementTrust, the Liquidating Trustee shall have no further duties or obligations hereunder. For the avoidance of doubt, the limitations on liability contained in this Liquidating Trust Agreement shall apply to any actions taken by the Liquidating Trustee during the course of winding up the affairs of the Liquidating Trust.

Continuance of Liquidating Trust for Winding Up. After During the termination of Dissolution Process, the Liquidating Trust and Trustee, solely for the purpose of liquidating and winding up the affairs of the Liquidating Trust, the Liquidating Trustee shall continue to act as such until the Liquidating Trustee’s its duties have been fully performed. During the Dissolution Process, including, without limitation, such tasks as necessary to wind-up the affairs of the Liquidating Trust. After the termination of Trustee shall continue to be entitled to receive the Liquidating TrustTrustee Fees called for by Section 6.2(a) hereof and subject to Section 2.4 hereof. Upon distribution of all the Liquidating Trust Assets, the Liquidating Trustee shall retain for a period of thirty (30) days the books, records, Beneficiary lists, and certificates and other documents records and files which that shall have been delivered to or created in connection with the administration of the Liquidating Trust to the extent not otherwise required to be handled by the Liquidating TrusteeTrustee in accordance with Section 2.2 hereof. At the Liquidating Trustee’s discretion, but subject in all cases to Section 2.2 hereof, all of such records and documents may, but need not, may be destroyed at any time after no earlier than two (2) years following the Termination Date as the Liquidating Trustee deems appropriate (unless such thirty day periodrecords and documents are necessary to fulfill the Liquidating Trustee’s obligations hereunder). Except as otherwise specifically provided herein, upon the discharge of all liabilities of the Liquidating Trust and final Distributions pursuant to this Liquidating Trust AgreementTermination Date, the Liquidating Trustee shall be deemed discharged and have no further duties or obligations hereunder. For , except to account to the avoidance of doubtLiquidating Trust Beneficiaries as provided herein, the limitations on liability contained in this Liquidating Trust Agreement Interests shall apply to any actions taken by be cancelled, and the Liquidating Trustee during the course of winding up the affairs of the Liquidating TrustTrust will be deemed to have dissolved.