Common use of Liquidating Trustee Clause in Contracts

Liquidating Trustee. (a) Upon the dissolution of the Company, the affairs of the Company shall be wound up and terminated and the Member shall continue to share Net Income, Net Loss, Distributable Cash and other items of the Company during the winding-up period in accordance with the provisions of Articles IV and V hereof. The winding-up of the affairs of the Company and the distribution of its assets shall be conducted exclusively by the Liquidating Trustee, who is hereby authorized to do all acts authorized by law for these purposes. The Liquidating Trustee, in carrying out such winding-up and distribution, shall have full power and authority to sell, assign, transfer and encumber all or any of the Company assets. (b) Upon the completion of the winding-up of the Company and the distribution of all Company assets, the Company shall terminate and the Liquidating Trustee shall have the authority to execute and record any and all other documents required to effectuate the termination of the Company. (c) The Liquidating Trustee shall be indemnified and held harmless by the Company from and against any and all claims, liabilities, costs, damages and causes of action of any nature whatsoever arising out of or incidental to the Liquidating Trustee’s taking of or failure to take any action authorized under, or within the scope of, this Agreement; provided, however, that the Liquidating Trustee shall not be entitled to indemnification for: (i) matters entirely unrelated to the Liquidating Trustee’s actions under the provisions of this Agreement; or (ii) fraud, willful misconduct, self-dealing or criminal activity.

Liquidating Trustee. (a) Upon the dissolution of the Company, the affairs of the Company shall be wound up and terminated and the Member Members shall continue to share Net Income, Net Loss, Distributable Cash and other items of the Company during the winding-up period in accordance with the provisions of Articles IV and V hereof. The winding-up of the affairs of the Company and the distribution of its assets shall be conducted exclusively by the Liquidating Trustee, who is hereby authorized to do all acts authorized by law for these purposes. The Liquidating Trustee, in carrying out such winding-winding up and distribution, shall have full power and authority to sell, assign, transfer and encumber all or any of the Company assets. (b) Upon the completion of the winding-winding up of the Company and the distribution of all Company assets, the Company shall terminate and the Liquidating Trustee shall have the authority to execute and record any and all other documents required to effectuate the termination of the Company. (c) The Liquidating Trustee shall be indemnified and held harmless by the Company from and against any and all claims, liabilities, costs, damages and causes of action of any nature whatsoever arising out of or incidental to the Liquidating Trustee’s taking of or failure to take any action authorized under, or within the scope of, this Agreement; provided, however, that the Liquidating Trustee shall not be entitled to indemnification for: (i) matters entirely unrelated to the Liquidating Trustee’s actions under the provisions of this Agreement; or (ii) fraud, willful misconduct, self-dealing or criminal activity.

Liquidating Trustee. (a) Upon the dissolution of the Company, the affairs of the Company shall be wound up and terminated and the Member Members shall continue to share Net Income, Net Loss, Distributable Cash and other items of the Company during the winding-up period in accordance with the provisions of Articles IV and V hereof. The winding-up of the affairs of the Company and the distribution of its assets shall be conducted exclusively by the Liquidating Trustee, who is hereby authorized to do all acts authorized by law for these purposes. The Liquidating Trustee, in carrying out such winding-winding up and distribution, shall have full power and authority to sell, assign, transfer and encumber all or any of the Company assets. (b) Upon the completion of the winding-winding up of the Company and the distribution of all Company assets, the Company shall terminate and the Liquidating Trustee shall have the authority to execute and record any and all other documents required to effectuate the termination of the Company. (c) The Liquidating Trustee shall be indemnified and held harmless by the Company from and against any and all claims, liabilities, costs, damages and causes of action of any nature whatsoever arising out of or incidental to the Liquidating Trustee’s 's taking of or failure to take any action authorized under, or within the scope of, this Agreement; provided, however, that the Liquidating Trustee shall not be entitled to indemnification for: (i) matters Matters entirely unrelated to the Liquidating Trustee’s 's actions under the provisions of this Agreement; or (ii) fraudFraud, willful misconduct, self-dealing or criminal activity.

Liquidating Trustee. (a) Upon the dissolution of the Company, the affairs of the Company shall be wound up and terminated and the Member Members shall continue to share Net Income, Net Loss, Distributable Cash and other items of the Company during the winding-up period in accordance with the provisions of Articles IV and V hereof. The winding-up of the affairs of the Company and the distribution of its assets shall be conducted exclusively by the Liquidating Trustee, who is hereby authorized to do all acts authorized by law for these purposes. The Liquidating Trustee, in carrying out such winding-winding up and distribution, shall have full power and authority to sell, assign, transfer and encumber all or any of the Company assets. The Liquidating Trustee shall be the Managing Member, unless the Managing Member has appointed another Person as Liquidating Trustee. (b) Upon the completion of the winding-winding up of the Company and the distribution of all Company assets, the Company shall terminate and the Liquidating Trustee shall have the authority to execute and record any and all other documents required to effectuate the termination of the Company. (c) The Liquidating Trustee shall be indemnified and held harmless by the Company from and against any and all claims, liabilities, costs, damages and causes of action of any nature whatsoever arising out of or incidental to the Liquidating Trustee’s taking of or failure to take any action authorized under, or within the scope of, this Agreement; provided, however, that the Liquidating Trustee shall not be entitled to indemnification for: (i) matters entirely unrelated to the Liquidating Trustee’s actions under the provisions of this Agreement; or (ii) fraud, willful misconduct, self-dealing or criminal activity.