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

Continuance of Trust for Winding Up. After the termination of the Trust and solely for the purpose of liquidating and winding up the affairs of the Trust, the Trustee shall continue to act as such until its duties have been fully performed. At such time, to the extent that any funds remain in the Trust that were provided to the Trustee by the Debtors to cover trust expenses, such funds shall be transferred to the Reorganized Debtor Plan Administrator for the purpose of distributing such funds to the Debtors in accordance with the Plan. Upon distribution of all Trust Assets, which shall not include a distribution of the Exchanged Enron Common Stock to the holders of Common Equity Trust Interests, the Trustee shall retain the books, beneficiary lists, registers, records and files which shall have been delivered to or created by the Trustee. At the Trustee's discretion, all of such records and documents may be destroyed in accordance with Section 3.

Continuance of Trust for Winding Up. After the termination of the Trust and solely for the purpose of liquidating and winding up the affairs of the Trust, the Trustee shall continue to act as such until its duties have been fully performed. At such time, to the extent that any funds remain in the Trust that were provided to the Trustee by the Debtors to cover trust expenses, such funds shall be transferred to the Reorganized Debtor Plan Administrator for the purpose of distributing such funds to the Debtors in accordance with the Plan. Upon distribution of all Trust Assets, which shall not include a distribution of the Exchanged Enron Common Preferred Stock to the holders of Common Preferred Equity Trust Interests, the Trustee shall retain the books, beneficiary lists, registers, records and files which shall have been delivered to or created by the Trustee. At the Trustee's discretion, all of such records and documents may be destroyed in accordance with Section 3.