Common use of Winding Up and Termination Clause in Contracts

Winding Up and Termination. On the occurrence of a Dissolution Event, the Members shall act as, or alternatively appoint, a liquidator. The liquidator shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Act. The costs of winding up shall be borne as a Company expense. The steps to be accomplished by the liquidator are as follows:

Winding Up and Termination. On the occurrence of a Dissolution Event, the Class A Members shall act as, as liquidator or alternatively appoint, select a Person to act as liquidator. The liquidator shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Act. The costs of winding up shall be borne as a Company expense. Until final distribution, the liquidator shall continue to operate the Company properties with all of the power and authority of the Members. The steps to be accomplished by the liquidator are as follows:

Winding Up and Termination. On the occurrence of a Dissolution Event, the Members shall act asManaging Member shall, or alternatively appointshall designate another Person to, a serve as liquidator. The liquidator shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Act. The costs of winding winding-up shall be borne as a Company expense. Until final distribution, the liquidator shall continue to operate the Company properties with all of the power and authority of the Members. The steps to be accomplished by the liquidator are as follows:

Winding Up and Termination. On the occurrence of a Dissolution Event, the Members shall Managing Member may select one or more Persons to act as, as liquidator or alternatively appoint, a may itself act as liquidator. The liquidator shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Act. The costs of winding up shall be borne as a Company expense, including reasonable compensation to the liquidator if approved by the Managing Member. Until final distribution, the liquidator shall continue to operate the Company assets with all of the power and authority of the Managing Member. The actions to be taken and the steps to be accomplished by the liquidator are as follows:

Winding Up and Termination. On the occurrence of a Dissolution Event, the Members shall act asManager shall, or alternatively appointshall designate another Person to, a serve as liquidator. The liquidator shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Act. The costs of winding winding-up shall be borne as a Company expense. Until final distribution, the liquidator shall continue to operate the Company properties with all of the power and authority of the Members. The steps to be accomplished by the liquidator are as follows:

Winding Up and Termination. On the occurrence of a Dissolution Event, the Members shall act as, or alternatively appoint, a as liquidator. The liquidator shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Act. The costs of winding up shall be borne as a Company expense. The steps to be accomplished by the liquidator are as follows: