Approval of Statement of Discharge Sample Clauses

Approval of Statement of Discharge. The statement of discharge required by Section 5.10(a) hereof shall be presented to the Litigation Trust Advisory Committee, and upon such presentation, the Litigation Trustee (in the case of a termination of the Trust) or the withdrawing Litigation Trustee (in the case of resignation or removal of the Litigation Trustee) shall be discharged from all liability (except liability arising out of the Litigation Trustee’s gross negligence or willful misconduct) to the Trust, Beneficiaries, and all Persons for acts or omissions in the Litigation Trustee's capacity as the Litigation Trustee or in any other capacity contemplated by this Litigation Trust Agreement or the Plan. The expenses of preparation of the statement of discharge, including, but not limited to, any accounting expenses incurred in connection with preparation of the statement of discharge, shall be a Trust Cost.
Sample 1
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Approval of Statement of Discharge. Upon the completion of the audit referred to in Section 3.13.1, the statement of charge and discharge shall be presented to the Trust Committee. Unless the Trust Committee or a majority of the Beneficiaries request that such statement of charge and discharge not be approved within 30 days after the date on which such statement of charge and discharge was presented to the Trust Committee, the withdrawing Trustee shall be discharged from all liability to the Trust or any Person who has had or may then or thereafter have an interest in the Trust for acts or omissions in the Trustee's capacity as the Trustee or in any other capacity contemplated by this Trust Agreement or the Plan.
Sample 1
Approval of Statement of Discharge. The statement of charge and discharge required by Section 3.13.1 shall be presented to JPMorganthe Beneficial Agent and the Unsecured Creditor Trustee and shall be filed with the Bankruptcy Court. Unless JPMorganthe Beneficial Agent requests that such statement of charge and discharge not be approved within 30 days after the date on which such statement of charge and discharge was presented to JPMorganthe Beneficial Agent, the withdrawing Plan Trustee shall be discharged from all liability to the Plan Trust or any Person who has had or may then or thereafter have an interest in the Plan Trust for acts or omissions in the Plan Trustee’s capacity as the Plan Trustee or in any other capacity contemplated by this Plan Trust Agreement or the Plan.
Sample 1

Related to Approval of Statement of Discharge

  • No Discharge; Survival of Claims Each of the Borrower and the Guarantors agrees that (i) its obligations hereunder shall not be discharged by the entry of an order confirming a Reorganization Plan (and each of the Borrower and the Guarantors, pursuant to Section 1141(d)(4) of the Bankruptcy Code, hereby waives any such discharge) and (ii) the Superpriority Claim granted to the Agent and the Lenders pursuant to the Orders and described in Section 2.23 and the Liens granted to the Agent pursuant to the Orders and described in Sections 2.23 and 2.25 shall not be affected in any manner by the entry of an order confirming a Reorganization Plan.

  • Effect of Dissolution Except as otherwise provided in this Agreement, upon the dissolution of the Company, the Sole Member shall take such actions as may be required pursuant to the Act and shall proceed to wind up, liquidate and terminate the business and affairs of the Company. In connection with such winding up, the Sole Member shall have the authority to liquidate and reduce to cash (to the extent necessary or appropriate) the assets of the Company as promptly as is consistent with obtaining fair value therefor, to apply and distribute the proceeds of such liquidation and any remaining assets in accordance with the provisions of Section 8.3, and to do any and all acts and things authorized by, and in accordance with, the Act and other applicable laws for the purpose of winding up and liquidation.

  • Certificate of Dissolution After the affairs of the Company have been wound up and the Company terminated, a certificate of dissolution shall be executed and filed in the office of the Delaware Secretary of State.

  • Articles of Dissolution Upon the dissolution and commencement of the winding up of the Company, the Member shall cause Articles of Dissolution to be executed on behalf of the Company and filed with the Secretary of State, and the Member shall execute, acknowledge and file any and all other instruments necessary or appropriate to reflect the dissolution of the Company.

  • Acknowledgment of Discharge by Trustee Subject to Section 8.07, after (i) the conditions of Section 8.01 or 8.02 have been satisfied, (ii) the Company has paid or caused to be paid all other sums payable hereunder by the Company and (iii) the Company has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent referred to in clause (i) above relating to the satisfaction and discharge of this Indenture have been complied with, the Trustee upon written request shall acknowledge in writing the discharge of the Company's obligations under this Indenture except for those surviving obligations specified in Section 8.03.

  • Waiver, Discharge, etc This Agreement shall not be released, discharged, abandoned, changed or modified in any manner, except by an instrument in writing executed by or on behalf of each of the parties hereto by their duly authorized officer or representative. The failure of any party to enforce at any time any of the provisions of this Agreement shall in no way be construed to be a waiver of any such provision, nor in any way to affect the validity of this Agreement or any part hereof or the right of any party thereafter to enforce each and every such provision. No waiver of any breach of this Agreement shall be held to be a waiver of any other or subsequent breach.

  • Satisfaction and Discharge This Indenture will be discharged and will cease to be of further effect as to all Notes issued hereunder, when:

  • Termination and Dissolution of the contract

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