Common use of Termination After Five Years Clause in Contracts

Termination After Five Years. If the Trust has not been previously terminated pursuant to Article 9.2 hereof, on the fifth (5th) anniversary of the Effective Date, and unless the Trust term has been otherwise extended by the Bankruptcy Court in accordance with the terms of the Plan (such extension to be approved by the Bankruptcy Court within six (6) months of the beginning of the extended term), the Trustee shall distribute all of the Trust Assets to the Beneficiaries in accordance with the Plan and immediately thereafter the Trust shall terminate and the Trustee shall have no further responsibility in connection therewith.

Appears in 2 contracts

Samples: Liquidating Trust Agreement (Circuit City Stores Inc), Liquidating Trust Agreement

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Termination After Five Years. If the Trust has not been previously terminated pursuant to Article 9.2 hereof, on the fifth (5th) anniversary of the Effective Date, and unless the Trust term has been otherwise extended by the Bankruptcy Court in accordance with the terms of the Plan (such extension to be approved by the Bankruptcy Court within six (6) months of the beginning of the extended term), the Trustee shall distribute all of the Trust Assets to the Beneficiaries in accordance with the Plan and immediately thereafter the Trust shall terminate and the Trustee shall have no further responsibility in connection therewith.. ARTICLE X MISCELLANEOUS 10.1

Appears in 1 contract

Samples: Liquidating Trust Agreement

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Termination After Five Years. If the Trust has not been previously terminated pursuant to Article 9.2 10.2 hereof, on the fifth (5th) anniversary of the Effective Date, and unless the Trust term has been otherwise extended by the Bankruptcy Court in accordance with the terms of the Plan (such extension to be approved by the Bankruptcy Court within six (6) months of the beginning of the extended term), the Trustee shall distribute all of the Trust Assets to the Beneficiaries in accordance with the Plan Plan, and immediately thereafter the Trust shall terminate and the Trustee shall have no further responsibility in connection therewiththerewith except to the limited extent set forth in section 10.5 of this Agreement.

Appears in 1 contract

Samples: Litigation Trust Agreement (Jennifer Convertibles Inc)

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