Common use of Surrender of Properties Clause in Contracts

Surrender of Properties. The Management Committee may authorize the Manager to surrender part or all of the Properties. If the Management Committee authorizes any such surrender over the objection of a Participant, the Participant that desires to surrender shall assign to the objecting Participant, without cost to the objecting Participant, all of the surrendering Participant's interest in the Properties to be surrendered, and the surrendered Properties shall cease to be part of the Properties.

Surrender of Properties. The Management Committee may authorize the Manager to surrender part or all of the Properties. If the Management Committee authorizes any such surrender over the objection of a Participant, the Participant that desires to surrender shall assign to the objecting Participant, without cost to the objecting Participant, all of the surrendering Participant's ’s interest in the Properties properties to be surrendered, and the surrendered Properties shall cease to be part of the Properties.

Surrender of Properties. The Management Committee may authorize the Manager to surrender part or all of the Properties. If the Management Committee authorizes any such surrender over the objection of a Participant, the Participant that desires to surrender shall assign to the objecting Participant, without cost to the objecting Participant, all of the surrendering Participant's interest in the Properties properties to be surrendered, and the surrendered Properties shall cease to be part of the Properties.