Common use of Final Distribution Clause in Contracts

Final Distribution. If the Trustee ------------------- determines that the Liabilities and all other claims, expenses, charges, liabilities and obligations of the Trust have been paid or discharged, or if the existence of the Trust shall terminate pursuant to Section 4.1, the Trustees shall, as expeditiously as is consistent with the conservation and protection of the Trust Assets, distribute the Trust Assets in the Trust to the Beneficiaries in proportion to the number of Trust Units held by each Beneficiary in the Trust based on the list submitted to the Trustee by the Partnership pursuant to Section 3.1 above, as such list may be amended. The Trustee shall hold in the Trust and thereafter make disposition of all liquidating distributions and other payments due any Beneficiaries who have not been located, in accordance with Delaware law, subject to applicable state laws regarding escheat and abandoned property. It is understood that the Trustee and the Beneficiary's bank in any funds transfer may rely solely upon any account numbers or similar identifying number provided by the parties hereto to identify (i) the Beneficiary, (ii) the Beneficiary's bank, or (iii) and intermediary bank. The Trustee may apply any of the Trust Assets for any payment order it executes using any such identifying number, even where its use may result in a person other than the Beneficiary being paid, or the transfer of funds to a bank other than the Beneficiary's bank, or an intermediary bank designated.

Appears in 11 contracts

Samples: Liquidating Trust Agreement (American Income Partners v a LTD Partnership), Liquidating Trust Agreement (American Income Partners v C LTD Partnership), Liquidating Trust Agreement (Airfund International Limited Partnership)

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Final Distribution. If the Trustee ------------------- determines that the Liabilities and all other claims, expenses, charges, liabilities and obligations of the Trust have been paid or discharged, or if the existence of the Trust shall terminate pursuant to Section 4.1, the Trustees Trustee shall, as expeditiously as is consistent with the conservation and protection of the Trust Assets, distribute the Trust Assets in the Trust to the Beneficiaries in proportion to the number of Trust Units held by each Beneficiary in the Trust based on the list submitted to the Trustee by the Partnership pursuant to Section 3.1 above, as such list may be amended. The Trustee shall hold in the Trust and thereafter make disposition of all liquidating distributions and other payments due any Beneficiaries who have not been located, in accordance with Delaware law, subject to applicable state laws regarding escheat and abandoned property. It is understood that the Trustee and the Beneficiary's ’s bank in any funds transfer may rely solely upon any account numbers or similar identifying number provided by the parties hereto to identify (i) the Beneficiary, (ii) the Beneficiary's ’s bank, or (iii) and an intermediary bank. The Trustee may apply any of the Trust Assets for any payment order it executes using any such identifying number, even where its use may result in a person other than the Beneficiary being paid, or the transfer of funds to a bank other than the Beneficiary's ’s bank, or an intermediary bank designated.

Appears in 10 contracts

Samples: Plan of Dissolution and Liquidation (PLM Equipment Growth Fund Ii), Plan of Dissolution and Liquidation (PLM Equipment Growth Fund), Plan of Dissolution and Liquidation (PLM Equipment Growth Fund Ii)

Final Distribution. If the Trustee ------------------- determines that the Liabilities and all other claims, expenses, charges, liabilities and obligations of the Trust have been paid or discharged, or if the existence of the Trust shall terminate pursuant to Section 4.1, the Trustees Trustee shall, as expeditiously as is consistent with the conservation and protection of the Trust Assets, distribute the Trust Assets in the Trust to the Beneficiaries in proportion to the number of Trust Units held by each Beneficiary in the Trust based on the list submitted to the Trustee by the Partnership pursuant to Section 3.1 above, as such list may be amended. The Trustee shall hold in the Trust and thereafter make disposition of all liquidating distributions and other payments due any Beneficiaries who have not been located, in accordance with Delaware law, subject to applicable state laws regarding escheat and abandoned property. It is understood that the Trustee and the Beneficiary's bank in any funds transfer may rely solely upon any account numbers or similar identifying number provided by the parties hereto to identify (i) the Beneficiary, (ii) the Beneficiary's bank, or (iii) and an intermediary bank. The Trustee may apply any of the Trust Assets for any payment order it executes using any such identifying number, even where its use may result in a person other than the Beneficiary being paid, or the transfer of funds to a bank other than the Beneficiary's bank, or an intermediary bank designated.

Appears in 3 contracts

Samples: Liquidating Trust Agreement (PLM Equipment Growth Fund Iii), Plan of Dissolution and Liquidation (PLM Equipment Growth Fund Iii), Liquidating Trust Agreement (PLM Equipment Growth Fund Iii)

Final Distribution. If the Managing Trustee ------------------- determines that the Liabilities and all other claims, expenses, charges, liabilities and obligations of the Trust have been paid or discharged, or if the existence of the Trust shall terminate pursuant to Section 4.1 hereof and not have been extended pursuant to such Section 4.1, the Trustees Managing Trustee shall, as expeditiously as is consistent with the conservation and protection of the Trust Assets, expeditiously distribute the Trust Assets in the Trust to the Beneficiaries in proportion pro rata according to the number of Trust Units held by each Beneficiary in the Trust based on the list submitted to the Managing Trustee by the Partnership pursuant to Section 3.1 above, as such list may be amended. The Managing Trustee shall hold in the Trust and thereafter make disposition of all liquidating distributions and other payments due any Beneficiaries who have not been located, in accordance with Delaware law, located subject to applicable state laws regarding escheat and abandoned property. It is understood that the Managing Trustee and the Beneficiary's ’s bank in any funds transfer may rely solely upon any account numbers or similar identifying number provided by the parties hereto to identify (i) the Beneficiary, (ii) the Beneficiary's ’s bank, or (iii) and an intermediary bank. The Managing Trustee may apply any of the Trust Assets for any payment order it executes using any such identifying number, even where its use may result in a person other than the Beneficiary being paid, or the transfer of funds to a bank other than the Beneficiary's ’s bank, or an intermediary bank designated.

Appears in 3 contracts

Samples: Liquidating Trust Agreement (Icon Income Fund Eight B Lp), Liquidating Trust Agreement (Icon Income Fund Eight /De), Liquidating Trust Agreement (Icon Cash Flow Partners L P Seven)

Final Distribution. If the Trustee ------------------- determines that the Liabilities and all other claims, expenses, charges, liabilities and obligations of the Trust have been paid or discharged, or if the existence of the Trust shall terminate pursuant to Section 4.1, the Trustees Trustee shall, as expeditiously as is consistent with the conservation and protection of the Trust Assets, distribute the Trust Assets in the Trust to the Beneficiaries in proportion to the number of Trust Units held by each Beneficiary in the Trust based on the list submitted to the Trustee by the Partnership pursuant to Section 3.1 above, as such list may be amended. The Trustee shall hold in the Trust and thereafter make disposition of all liquidating distributions and other payments due any Beneficiaries who have not been located, in accordance with Delaware [Delaware] law, subject to applicable state laws regarding escheat and abandoned property. It is understood that the Trustee and the Beneficiary's ’s bank in any funds transfer may rely solely upon any account numbers or similar identifying number provided by the parties hereto to identify (i) the Beneficiary, (ii) the Beneficiary's ’s bank, or (iii) and an intermediary bank. The Trustee may apply any of the Trust Assets for any payment order it executes using any such identifying number, even where its use may result in a person other than the Beneficiary being paid, or the transfer of funds to a bank other than the Beneficiary's ’s bank, or an intermediary bank designated.

Appears in 3 contracts

Samples: Liquidating Trust Agreement (PLM Equipment Growth Fund Vi), Liquidating Trust Agreement (PLM Equipment Growth & Income Fund Vii), Liquidating Trust Agreement (PLM Equipment Growth Fund V)

Final Distribution. If the Managing Trustee ------------------- determines that the Liabilities and all other claims, expenses, charges, liabilities and obligations of the Trust have been paid or discharged, or if the existence of the Trust shall terminate pursuant to Section 4.1 hereof and not have been extended pursuant to such Section 4.1, the Trustees Managing Trustee shall, as expeditiously as is consistent with the conservation and protection of the Trust Assets, expeditiously distribute the Trust Assets in the Trust to the Beneficiaries in proportion pro rata according to the number of Trust Units Shares held by each Beneficiary in the Trust based on the list List submitted to the Managing Trustee by the Partnership Company pursuant to Section 3.1 above, as such list List may be amended. The Managing Trustee shall hold in the Trust and thereafter make disposition of all liquidating distributions and other payments due any Beneficiaries who have not been located, in accordance with Delaware law, located subject to applicable state laws regarding escheat and abandoned property. It is understood that the Managing Trustee and the Beneficiary's ’s bank in any funds transfer may rely solely upon any account numbers or similar identifying number provided by the parties hereto to identify (i) the Beneficiary, (ii) the Beneficiary's ’s bank, or (iii) and an intermediary bank. The Managing Trustee may apply any of the Trust Assets for any payment order it executes using any such identifying number, even where its use may result in a person other than the Beneficiary being paid, or the transfer of funds to a bank other than the Beneficiary's ’s bank, or an intermediary bank designated.

Appears in 2 contracts

Samples: Liquidating Trust Agreement (Icon Leasing Fund Twelve, LLC), Liquidating Trust Agreement (Icon Leasing Fund Eleven, LLC)

Final Distribution. If the Managing Trustee ------------------- determines that the Liabilities Assumed Obligations and all other claims, expenses, charges, liabilities and obligations of the Trust have been paid or discharged, or if the existence of the Trust shall terminate pursuant to Section 4.1 hereof and not have been extended pursuant to such Section 4.1, the Trustees Managing Trustee shall, as expeditiously as is consistent with the conservation and protection of the Trust Assets, expeditiously distribute the Trust Assets in the Trust to the Beneficiaries in proportion pro rata according to the number of Trust Units held by each Beneficiary in the Trust based on the list submitted to the Managing Trustee by the Partnership Company pursuant to Section 3.1 above, as such list List may be amended. The Managing Trustee shall hold in the Trust and thereafter make disposition of all liquidating distributions and other payments due any Beneficiaries who have not been located, in accordance with Delaware law, located subject to applicable state laws regarding escheat and abandoned property. It is understood that the Managing Trustee and the Beneficiary's ’s bank in any funds transfer may rely solely upon any account numbers or similar identifying number provided by the parties hereto to identify (i) the Beneficiary, (ii) the Beneficiary's ’s bank, or (iii) and an intermediary bank. The Managing Trustee may apply any of the Trust Assets for any payment order it executes using any such identifying number, even where its use may result in a person other than the Beneficiary being paid, or the transfer of funds to a bank other than the Beneficiary's ’s bank, or an intermediary bank designated.

Appears in 1 contract

Samples: Trustee Services Agreement (Macc Private Equities Inc)

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Final Distribution. If the Trustee ------------------- determines that the Liabilities and all other claims, expenses, charges, liabilities and obligations of the Trust have been paid or discharged, or if the existence of the Trust shall terminate pursuant to Section 4.1, the Trustees Trustee shall, as expeditiously as is consistent with the conservation and protection of the Trust Assets, distribute the Trust Assets in the Trust to the Beneficiaries in proportion to the number of Trust Units held by each Beneficiary in the Trust based on the list submitted to the Trustee by the Partnership Company pursuant to Section 3.1 above, as such list may be amended. The Trustee shall hold in the Trust and thereafter make disposition of all liquidating distributions and other payments due any Beneficiaries who have not been located, in accordance with Delaware law, subject to applicable state laws regarding escheat and abandoned property. It is understood that the Trustee and the Beneficiary's ’s bank in any funds transfer may rely solely upon any account numbers or similar identifying number provided by the parties hereto to identify (i) the Beneficiary, (ii) the Beneficiary's ’s bank, or (iii) and an intermediary bank. The Trustee may apply any of the Trust Assets for any payment order it executes using any such identifying number, even where its use may result in a person other than the Beneficiary being paid, or the transfer of funds to a bank other than the Beneficiary's ’s bank, or an intermediary bank designated.

Appears in 1 contract

Samples: Liquidating Trust Agreement (Professional Lease Management Income Fund I LLC)

Final Distribution. If the Managing Trustee ------------------- determines that the Liabilities and all other claims, expenses, charges, liabilities and obligations of the Trust have been paid or discharged, or if the existence of the Trust shall terminate pursuant to Section 4.1 hereof and not have been extended pursuant to such Section 4.1, the Trustees Managing Trustee shall, as expeditiously as is consistent with the conservation and protection of the Trust Assets, expeditiously distribute the Trust Assets in the Trust to the Beneficiaries in proportion pro rata according to the number of Trust Units Shares held by each Beneficiary in the Trust based on the list List submitted to the Managing Trustee by the Partnership LLC pursuant to Section 3.1 above, as such list List may be amended. The Managing Trustee shall hold in the Trust and thereafter make disposition of all liquidating distributions and other payments due any Beneficiaries who have not been located, in accordance with Delaware law, located subject to applicable state laws regarding escheat and abandoned property. It is understood that the Managing Trustee and the Beneficiary's ’s bank in any funds transfer may rely solely upon any account numbers or similar identifying number provided by the parties hereto to identify (i) the Beneficiary, (ii) the Beneficiary's ’s bank, or (iii) and an intermediary bank. The Managing Trustee may apply any of the Trust Assets for any payment order it executes using any such identifying number, even where its use may result in a person other than the Beneficiary being paid, or the transfer of funds to a bank other than the Beneficiary's ’s bank, or an intermediary bank designated.

Appears in 1 contract

Samples: Liquidating Trust Agreement (Icon Income Fund Ten LLC)

Final Distribution. If the Managing Trustee ------------------- determines that the Liabilities and all other claims, expenses, charges, liabilities and obligations of the Trust have been paid or discharged, or if the existence of the Trust shall terminate pursuant to Section 4.1 hereof and not have been extended pursuant to such Section 4.1, the Trustees Managing Trustee shall, as expeditiously as is consistent with the conservation and protection of the Trust Assets, expeditiously distribute the Trust Assets in the Trust to the Beneficiaries in proportion pro rata according to the number of Trust Units Shares held by each Beneficiary in the Trust based on the list submitted to the Managing Trustee by the Partnership LLC pursuant to Section 3.1 above, as such list may be amended. The Managing Trustee shall hold in the Trust and thereafter make disposition of all liquidating distributions and other payments due any Beneficiaries who have not been located, in accordance with Delaware law, located subject to applicable state laws regarding escheat and abandoned property. It is understood that the Managing Trustee and the Beneficiary's ’s bank in any funds transfer may rely solely upon any account numbers or similar identifying number provided by the parties hereto to identify (i) the Beneficiary, (ii) the Beneficiary's ’s bank, or (iii) and an intermediary bank. The Managing Trustee may apply any of the Trust Assets for any payment order it executes using any such identifying number, even where its use may result in a person other than the Beneficiary being paid, or the transfer of funds to a bank other than the Beneficiary's ’s bank, or an intermediary bank designated.

Appears in 1 contract

Samples: Liquidating Trust Agreement (Icon Income Fund Nine LLC)

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