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 for the purpose of liquidating and winding up the affairs of the Trust, the Trustee shall continue to act as such until the Trustee’s duties have been fully performed, including, without limitation, such post-distribution tasks as necessary to windup the affairs of the Trust. The Trustee and Trust shall dispose of the books, records, Beneficiary lists, and certificates and other documents and files which shall have been delivered to or created by the Trustee as set forth in the Plan. Except as otherwise specifically provided herein, upon the discharge of all liabilities of the Trust and after final distributions of the Trust are made, the Trustee shall have no further duties or obligations hereunder. For the avoidance of doubt, the limitations on liability and indemnification rights contained in Article VI hereof shall apply to any actions taken by the Trustee and his professionals during the course of winding up the affairs of the Trust.