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

Continuance of Litigation Trust for Winding Up. After the termination of the Litigation Trust and solely for the purpose of liquidating and winding up the affairs of the Litigation Trust, the Litigation Trustee shall continue to act as such until its duties have been fully performed and shall continue to be entitled to receive the fees called for by Section 5.2(a) hereof. Upon distribution of all the Litigation Trust Assets, the Litigation Trustee shall retain the books, records and files that shall have been delivered or created by the Litigation Trustee. At the Litigation Trustee’s discretion, all of such records and documents may be destroyed at any time following the date of final distribution of Litigation Trust Assets as the Litigation Trustee deems appropriate (unless such records and documents are necessary to fulfill the Litigation Trustee’s obligations hereunder) subject to the terms of any joint prosecution and common interest agreement(s) to which the Litigation Trustee may be a party. Except as otherwise specifically provided herein, upon the final distribution of Litigation Trust Assets, the Litigation Trustee shall be deemed discharged and have no further duties or obligations hereunder, except to account to the Beneficiary as provided herein, the Litigation Trust Interests shall be cancelled and the Litigation Trust will be deemed to have dissolved.

Continuance of Litigation Trust for Winding Up. After During the termination of Dissolution Process, the Litigation Trust and Trustee, solely for the purpose of liquidating and winding up the affairs of the Litigation Trust, the Litigation Trustee shall continue to act as such until its duties have been fully performed and performed. During the Dissolution Process, the Litigation Trustee shall continue to be entitled to receive the fees Litigation Trustee Fees called for by Section 5.2(a) hereofand subject to Section 2.3. Upon distribution of all the Litigation Trust Assets, the Litigation Trustee shall retain the books, records and files that shall have been delivered or created by the Litigation TrusteeTrustee to the extent not otherwise required to be handled by the Litigation Trustee in accordance with Section 2.2. At the Litigation Trustee’s discretion, but subject in all cases to Section 2.2, all of such records and documents may be destroyed at any time no earlier than two (2) years following the date of final distribution of Litigation Trust Assets Termination Date as the Litigation Trustee deems appropriate (unless such records and documents are necessary to fulfill the Litigation Trustee’s obligations hereunder) subject to the terms of any joint prosecution and common interest agreement(s) to which the Litigation Trustee may be a party). Except as otherwise specifically provided herein, upon the final distribution of Litigation Trust AssetsTermination Date, the Litigation Trustee shall be deemed discharged and have no further duties or obligations hereunder, except to account to the Beneficiary Litigation Trust Beneficiaries as provided herein, the Litigation Trust Interests shall be cancelled cancelled, and the Litigation Trust will be deemed to have dissolved.