Common use of Winding Up, Liquidation and Distribution of Assets of a Series Upon Termination of the Series Clause in Contracts

Winding Up, Liquidation and Distribution of Assets of a Series Upon Termination of the Series. (a) Upon termination of a Series, the Manager shall wind up such Series’ affairs; provided, however, that a reasonable time shall be allowed for the orderly liquidation of the assets of such Series and the discharge of liabilities of such Series to its creditors so as to enable the Manager to minimize any losses attendant upon a liquidation. The proceeds of liquidation shall be distributed in accordance with Section 7.9(b).