Intention of Parties to Establish Liquidating Trust. This Trust Agreement is intended to create a liquidating trust for United States federal income tax purposes and, to the extent provided by law, shall be governed and construed in all respects as such a trust and any ambiguity herein shall be construed consistent herewith and, if necessary, this Trust Agreement may be amended to comply with such United States federal income tax laws, which amendments may apply retroactively.
Intention of Parties to Establish Liquidating Trust. This Agreement is not intended to create and shall not be interpreted as creating a corporation, association, partnership, or joint venture of any kind for purposes of federal income taxation or for any other purpose.
Intention of Parties to Establish Liquidating Trust. This Agreement is not intended to create and shall not be interpreted as creating an association, partnership, corporation or joint venture of any kind. This Agreement is intended to create a liquidating trust to be governed and construed in all respects as a trust. It is intended that the Liquidating Trust be classified for federal income tax purposes as a liquidating trust within the meaning of Treasury Regulations Section 301.7701-4(d), and any ambiguity herein shall be construed consistent with the foregoing and, if necessary, this Agreement may be amended to comply with such federal income tax laws, which amendments may apply retroactively.
Intention of Parties to Establish Liquidating Trust. This Agreement is not intended to create and shall not be interpreted as creating a corporation, association, partnership, or joint venture of any kind for purposes of federal income taxation or for any other purpose. 14.3 Beneficiaries Have No Rights or Privileges as Holders of Investment Trust C Units. Except as expressly provided in this Agreement or under applicable law, the Beneficiaries shall have no rights or privileges attributable to their former status as holders of Investment Trust C Units. 14.4 Laws as to Construction. The Liquidating Trustee, and the Beneficiaries (by their acceptance of any distributions made to them pursuant to this Agreement), consent and agree that this Liquidating Trust Agreement shall be governed by, and construed in accordance with, the internal laws of the State of Delaware, without reference to the choice of law principles thereof. Each of the parties hereto irrevocably submits to the exclusive jurisdiction of the courts of the state of New York and the United States District Court for any District within such state for the purpose of any suit, action, proceeding or judgment relating to or arising out of this Liquidating Trust Agreement and the transactions contemplated hereby. Service of process in connection with any such suit, action or proceeding may be served on each party hereto anywhere in the world by the same methods as are specified for the giving of notices under this Liquidating Trust Agreement. Each of the parties hereto irrevocably consents to the jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue in such court. Each party hereto irrevocably waives any objection to the laying of venue of any such suit, action or proceeding brought in such courts and irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. Each of the parties hereto agrees that a final judgment in any action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. All parties waive the right to a jury trial of all such disputes, claims and demands. 14.5
Intention of Parties to Establish Liquidating Trust. This Distribution Trust Agreement is intended to create for federal income tax purposes a "liquidating trust" that satisfies the requirements of Revenue Procedure 94-45 and, to the extent provided by law, shall be governed and construed in all respects as such a liquidating trust, provided that the Distribution Trustee, in consultation with the Distribution Trust Advisory Board, shall have the ability subject to Sections 2.4, 2.5. 8.1(b) and (c), to determine the portion of the Distribution Trust Assets to be allocated to the DOF and elect to treat the DOF as a disputed ownership fund or as a trust pursuant to IRC Section 641 for federal income tax purposes. Notwithstanding anything to the contrary contained herein, any ambiguity herein shall be construed consistent herewith and, if necessary, this Distribution Trust Agreement may be amended to comply with such federal income tax laws, which amendments may apply retroactively.
Intention of Parties to Establish Liquidating Trust. This Agreement is intended to create a trust, and the Liquidating Trust created hereunder shall be governed and construed in all respects as a liquidating trust.
Intention of Parties to Establish Liquidating Trust. This Agreement is not intended to create and shall not be interpreted as creating an association, partnership, corporation or joint venture of any kind. It is intended as a trust to be governed and construed in all respects as a trust. It is intended that the Liquidating Trust be classified for Federal income tax purposes as a "liquidating trust" within the meaning of Treasury Regulations Section 301.7701-4(d). The beneficiaries of the Distribution Trusts will be treated as the grantors and deemed indirect owners of the Liquidating Trust and they will be treated for Federal income tax purposes as owning undivided interests in the Trust Assets through the Distribution Trusts.
Intention of Parties to Establish Liquidating Trust. This Liquidating Trust Agreement is intended to create a liquidating trust for federal income tax purposes and, to the extent provided by law, shall be governed and construed in all respects as such a trust and any ambiguity herein shall be construed consistent herewith and, if necessary, this Liquidating Trust Agreement may be amended by the Liquidating Trustee to comply with such federal income tax laws, which amendments may apply retroactively. In the alternative, if the Liquidating Trust shall fail or cease to qualify as a liquidating trust in accordance with Treasury Regulations Section 301.7701-4(d), then this Liquidating Trust Agreement is intended to create a Delaware limited liability company.
