In Section 6.3.3, “commercially reasonable efforts” generally means the liquidator must make a good-faith, practical effort to sell or distribute fund assets within 1 year of dissolution, but is not guaranteeing that outcome at any cost.

In practice, that usually means:
- actively trying to wind down the portfolio
- avoiding unnecessary delay
- balancing speed against value preservation
- not being forced to fire-sell assets if that would harm LPs

This is reinforced by 6.3.2 and 6.3.6, which allow a reasonable winding-up period and permit deferral or in-kind distributions if an immediate sale would cause undue loss.

Reference:
- https://decilehub.com/base/1-general_questions/20774-what-is-the-cornerstone-start-agreement