Common use of Liquidation Statement Clause in Contracts

Liquidation Statement. (a) Upon compliance by the Company with all applicable requirements for dissolution, the Members shall cease to be such and the Company shall execute, acknowledge and cause to be filed a Certificate of Cancellation of the Company or other appropriate documents evidencing its dissolution and winding up. (b) Notwithstanding anything to the contrary contained herein, if the Board of Directors has been removed and the Company has been dissolved, any Member or other Person appointed by the Members may act as liquidating trustee for the Company during the winding up period, and receive reasonable compensation for such activity, all as approved by the Members holding Shares that represent a majority of the outstanding Shares (which in this case shall exclude any Shares held by the Investment Manager).

Liquidation Statement. (a) Upon compliance by the Company with all applicable requirements for dissolution, the Members Shareholders shall cease to be such and the Company shall execute, acknowledge and cause to be filed a Certificate of Cancellation of the Company or other appropriate documents evidencing its dissolution and winding up. (b) Notwithstanding anything to the contrary contained herein, if the Board of Directors Trustees has been removed and the Company has been dissolved, any Member Shareholder or other Person appointed by the Members Shareholders may act as liquidating trustee for the Company during the winding up period, and receive reasonable compensation for such activity, all as approved by the Members Shareholders holding Shares that represent a majority of the outstanding Shares (which in this case shall exclude any Shares held by the Investment Manager)Shares.

Liquidation Statement. (a) Upon compliance by the Company with all applicable requirements for dissolution, the Members Shareholders shall cease to be such and the Company shall execute, acknowledge and cause to be filed a Certificate of Cancellation of the Company or other appropriate documents evidencing its dissolution and winding up. (b) Notwithstanding anything to the contrary contained herein, if the Board of Directors Trustees has been removed and the Company has been dissolved, any Member Shareholder or other Person appointed by the Members Shareholders may act as liquidating trustee for the Company during the winding up period, and receive reasonable compensation for such activity, all as approved by the Members Shareholders holding Shares that represent a majority of the outstanding Shares (which in this case shall exclude any Shares held by the Investment ManagerManager and its Affiliated Persons).

Liquidation Statement. (a) Upon compliance by the Company with all applicable requirements for dissolution, the Members shall cease to be such and the Company shall execute, acknowledge and cause to be filed a Certificate of Cancellation of the Company or other appropriate documents evidencing its dissolution and winding up. (b) Notwithstanding anything to the contrary contained herein, if the Board of Directors has been removed or resigned and the Company has been dissolved, any Member or other Person appointed by the Members may act as liquidating trustee for the Company during the winding up period, and receive reasonable compensation for such activity, all as approved by the Members holding Shares that represent a majority of the outstanding Shares (which in this case shall exclude any Shares held by the Investment Manager)Shares.