Actions of the Unsecured Claims Trustee Sample Clauses

Actions of the Unsecured Claims Trustee. Subject to the terms of this Unsecured Claims Trust Agreement, the Unsecured Claims Trustee, upon direction of the Unsecured Claims Trust Board, and the exercise of their collective reasonable business judgment, shall, in an expeditious but orderly manner, liquidate and convert to Cash (to the extent such assets are not already Cash) the Unsecured Claims Trust Assets, make timely distributions and not unduly prolong the duration of the Unsecured Claims Trust. The liquidation of the Trustee Causes of Action may be accomplished either through the prosecution, compromise and settlement, abandonment or dismissal of any or all claims, rights or causes of action, or otherwise. The Unsecured Claims Trustee, except as set forth in Section 3.12 herein, shall have the absolute right to pursue, settle and compromise or not pursue any and all Trustee Causes of Action as it determines is in the best interests of the Unsecured Claims Trust Beneficiaries, and consistent with the purposes of the Unsecured Claims Trust, and the Unsecured Claims Trustee shall have no liability for the outcome of any such decision except for any damages caused by gross negligence or willful misconduct.
Sample 1
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Related to Actions of the Unsecured Claims Trustee

  • Obligations of the Academy Trust 4.B The Academy Trust must keep the Land clean and tidy and make good any damage or deterioration to the Land. The Academy Trust must not do anything to lessen the value or marketability of the Land without the Secretary of State’s consent.

  • Obligations of the Parties 2.1 The Trust shall prepare and be responsible for filing with the Securities and Exchange Commission and any state regulators requiring such filing all shareholder reports, notices, proxy materials (or similar materials such as voting instruction solicitation materials), prospectuses and statements of additional information of the Trust. The Trust shall bear the costs of registration and qualification of its shares, preparation and filing of the documents listed in this Section 2.1 and all taxes to which an issuer is subject on the issuance and transfer of its shares.

  • Obligations of the University (a) organizes the doctoral studies;

  • Obligations of the City A. The City agrees to give the Contractor access to the Project area and other City- owned properties as required to perform the necessary Services under this Agreement.

  • Obligations of City 8.1 City shall –

  • OBLIGATIONS OF THE OWNER 5.1 The Owner agrees to provide the requisite access and authority for Coinllectibles to have access to information necessary for Coinllectibles to carry out the Services hereunder.

  • Obligations of the Company Whenever required under this Section 2 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible:

  • Obligations of the Department a. The Department shall notify Business Associate of a) any limitation in any applicable Notice of Privacy Practices that would affect the use or disclosure of PHI by the Business Associate and b) any changes, revocations, restrictions or permissions by an individual to the use and disclosure of his/her PHI to which the Department has agreed, to the extent such restrictions or limitations may affect the performance of Business Associate’s services on behalf of the Department.

  • Conditions to Obligations of the Company The Company’s obligation to sell and issue the Shares and the Warrants at the Closing is subject to the fulfillment to the satisfaction of the Company on or prior to the Closing Date of the following conditions, any of which may be waived by the Company:

  • Obligations of the Processor 6.1 The Processor shall:

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