Winding Up Procedure. Upon the Enterprise Board’s adoption of a resolution of termination under Section 10.1 above, ▇▇▇▇ ▇▇▇▇▇ ▇ shall be wound up within a reasonable time pursuant to the procedures set forth in this Section 10.2. (i) The Enterprise Board shall appoint a winding-up agent to carry out the procedures and responsibilities set forth in this Section 10.2 and to take any other actions as determined by the Enterprise Board to be necessary and convenient to the winding up of NISP Phase 1. (ii) The winding-up agent shall obtain from the Financial Services Manager of the District an accounting of ▇▇▇▇ ▇▇▇▇▇ ▇ Assets and ▇▇▇▇ ▇▇▇▇▇ ▇ liabilities and operations through the last day of the month in which the Enterprise Board adopts a resolution of termination under Section 10.1 above. The winding-up agent may also cause a proper accounting to occur at other times, including before or after the distribution of ▇▇▇▇ ▇▇▇▇▇ ▇ Assets pursuant to Section 10.3 below, if the Enterprise Board determines in its discretion that such an additional accounting is reasonably necessary for the orderly winding up of NISP.
Appears in 2 contracts
Sources: Nisp Phase 1 Agreement, Nisp Phase 1 Agreement