# Winding Down Tornado Fund

# Under what circumstances will Tornado Fund wind down?

Members of Tornado Fund can vote by majority to wind down Tornado Fund. Other circumstances include a judicially ordered dissolution or disposition of all the assets of Tornado Fund.

If dissolution were to occur, a person appointed by the members via a majority vote will handle the wind down of Tornado Fund based on the terms of the operating agreement.

At the time of dissolution, members of Tornado Fund are responsible for the expenses associated with the liquidation.

Any additional losses or liabilities incurred will be in accordance with the terms of the operating agreement and the service provider reserves the right to set aside funds to facilitate dissolution activities.

# What happens if members of Tornado Fund want to transfer all of Tornado Fund assets?

In the operating agreement, members agree to tag- and drag-along provisions to deal with the possibility that members may want to transfer all of Tornado Fund assets to another entity or party. These rights will only be triggered if a super-majority of the members vote to effectuate such a transfer.

Last updated: 6/15/2020, 3:24:07 PM