Actions of the Liquidating Trustee. The Liquidating Trustee, with advice of the Plan Advisory Committee, and in the exercise of the Liquidating Trustee’s reasonable business judgment, shall, in an expeditious but orderly manner, liquidate and convert to Cash the assets of the Liquidating Trust, grant liens, as necessary, make timely distributions as provided for in this Liquidating Trust Agreement, subject to the terms and conditions of any Term Sheet and/or any documents evidencing such terms and conditions (as they may be modified by agreement of the parties thereto) and any liens that may be granted in connection therewith, and in strict accordance thereto, and not unduly prolong the duration of the Liquidating Trust. The liquidation of the Liquidating Trust Assets may be accomplished through the prosecution, compromise and settlement, abandonment or dismissal of any or all claims, rights or causes of action, the sale or other disposition of Liquidating Trust Assets, or otherwise. The Liquidating Trustee, subject to any required approval of the Plan Advisory Committee and the Debtors, except as set forth in Section 3.12 herein and the Plan, shall have the absolute right to pursue, sell, settle and compromise or not pursue any and all Liquidating Trust Assets as it determines is in the best interests of the Liquidating Trust Beneficiaries, and consistent with the purposes of the Liquidating Trust, and the Liquidating Trustee shall have no liability for the outcome of any such decision except for any damages caused by recklessness, gross negligence, willful misconduct, or knowing violation of law.
