Common use of Continuation of the Fund Clause in Contracts

Continuation of the Fund. Upon the occurrence of any event of dissolution described in Sections 14.1 (a) through (e), inclusive, the Fund shall be dissolved and wound up unless (i) the Manager and a majority of the Shareholders within 90 days after the occurrence of any such event of dissolution elect to continue the Fund or, (ii) if there are no remaining Manager within 90 days after the occurrence of any such event of dissolution, then, by an affirmative vote of a majority of the Shareholders, the Fund shall be continued on the terms and conditions herein contained and such Shareholders shall designate one or more persons willing to be substituted as a Manager. In the event there is no remaining Manager and the Shareholders have elected to continue the Fund, as set forth herein, it shall be continued with the new Manager or Manager who shall succeed to and assume all of the powers, privileges and obligations of the previous Manager hereunder except as specified in Section 12.9. In the event of dissolution under this Section 14.2, the former Manager shall have the rights specified in Section 12.9.

Continuation of the Fund. Upon the occurrence of any event of dissolution described in Sections 14.1 (a) through (e), inclusive, the Fund shall be dissolved and wound up unless (i) the Manager and a majority Majority of the Shareholders Voting Shares within 90 days after the occurrence of any such event of dissolution elect to continue the Fund or, (ii) if there are no remaining Manager within 90 days after the occurrence of any such event of dissolution, then, by an affirmative vote holders of a majority Majority of the ShareholdersVoting Shares shall elect, in writing, that the Fund shall be continued on the terms and conditions herein contained and such Shareholders shall designate one or more persons willing to be substituted as a Manager. In the event there is no remaining Manager and a Majority of the Shareholders have elected Voting Shares elects to continue the Fund, as set forth herein, it shall be continued with the new Manager or Manager who shall succeed to and assume all of the powers, privileges and obligations of the previous Manager hereunder except as specified in Section 12.9. In the event of a dissolution under this Section 14.2, the former Manager shall have the rights specified in Section 12.9.