Common use of Liquidation, Dissolution or Sale of the Funds Clause in Contracts

Liquidation, Dissolution or Sale of the Funds. Notwithstanding the foregoing, in the event of the liquidation, dissolution or winding up of a Fund, the Plan maintained by such Fund shall be terminated, and all unpaid amounts in the Deferral Accounts of the Trustees with respect to such Fund as of the effective date of such dissolution shall be paid in a lump sum to the Trustees on or about such effective date. In the event of the liquidation, dissolution or winding up of a Fund that a Trustee has designated as a deemed investment for all or part of his Deferral Account pursuant to Section 3.3(a) above, the Trustee’s deferrals hereunder that were treated as though invested in such Fund will be redirected (i) to other Fund(s) designated by such Trustee or (ii) if such Trustee does not properly provide investment instructions, pursuant to Section 3.3(c) above. For purposes of the above paragraph, a sale, conveyance or transfer of the Fund’s assets to a trust, partnership, association or another corporation in exchange for cash, shares or other securities with the transfer being made subject to, or with the assumption by the transferee of, the liabilities of the Fund shall not be deemed a dissolution of the Fund.