Common use of Liquidation Procedure Clause in Contracts

Liquidation Procedure. In order to liquidate the Trust Estate, the Liquidator shall implement the following procedure: (i) the Liquidator shall propose a liquidation strategy for the Trust Estate which maximizes the liquidation value of the Trust to the Technical Committee for approval; (ii) the Technical Committee shall instruct the Trustee, in consultation with the Audit Committee, to conduct any necessary or appropriate action to complete the liquidation process, including hiring one or more financial or real estate advisors to the extent deemed appropriate. All fees and expenses arising in connection therewith shall constitute Trust Expenses; and (iii) the Technical Committee and the Common Representative may at any time reasonably request information from the Liquidator with respect to its activities.