Liquidating trust agreement and indemnification video dating funny
Six Maintenance Association, Inc., Lakes of the Meadow Village Homes Condominium No. Five Maintenance Association, Inc., Lakes of the Meadow Village Homes Condominium No.
Without the benefit of insurance, a challenge to a trust’s status could lead to the diminution in value of the trust assets, or worse, if the challenge is made after funds have been distributed, there may not be sufficient trust assets to defend such challenge, or pay any tax, interest or penalties, and the practical recovery of funds from beneficiaries may be difficult.
Although they may have different names and structures, such as creditor, GUC wind down or litigation trust, liquidating LLC and many others, they typically have the same basic purpose — to serve as a vehicle into which certain (generally, non-operating) assets are contributed to be liquidated for the benefit of a specific class or classes or creditors.
Many people consider the liquidating trust agreement to be a boilerplate document requiring nothing more than finding a form used previously and changing the names.
P., a Delaware limited partnership d/b/a Arvida/JMB Partners, Ltd. WHEREAS, the Association Parties and Arvida/JMB have entered into a Settlement Agreement (the "Settlement Agreement") dated March 9, 2004 relating to the Lawsuit; WHEREAS, pursuant to the Settlement Agreement, the Association Parties have agreed to indemnify Arvida/JMB and its Affiliates on the EXHIBIT 10.2 - ------------ SETTLEMENT AGREEMENT BY AND AMONG ARVIDA/JMB PARTNERS, L. AND LAKES OF THE MEADOW VILLAGE HOMES CONDOMINIUM NO. ON BEHALF OF ITSELF AND ITS MEMBERS TABLE OF CONTENTS ----------------- Page ---- RECITALS .
EIGHT MAINTENANCE ASSOCIATION, INC., a Florida corporation not for profit (the "Association"), on behalf of itself and, to the fullest extent permitted under applicable law, on behalf of its members (hereinafter sometimes collectively referred to as the "Association Parties"), and ARVIDA/JMB PARTNERS, L.