Common use of Authority of Trustees Clause in Contracts

Authority of Trustees. The Trustees are authorized to perform any and all acts necessary or desirable to accomplish the purposes of the Plan Trust in accordance with this Trust Agreement and the Plan. Without limiting, but subject to, the foregoing and Section 3.2 hereof, the Trustees shall be expressly authorized, but shall not be required, to: (a) hold legal title to any and all rights of the holders of the Interests in or arising from the Plan Trust Stock and the Stock Distributions, including, but not limited to, collecting any and all money and other property belonging to the Plan Trust; (b) protect and enforce the rights to the Plan Trust Stock and the Stock Distributions by any method deemed appropriate including, without limitation, by judicial proceedings or pursuant to any applicable bankruptcy, insolvency, moratorium, or similar law and general principles of equity; (c) determine and satisfy any and all liabilities created, incurred or assumed by the Plan Trust; (d) file, if necessary, any and all tax and information returns with respect to the Plan Trust and pay taxes properly payable by the Plan Trust, if any; (e) assert or waive any privilege or defense on behalf of the Plan Trust or LBHI; (f) pay all expenses and make all other payments relating to the Plan Trust and its assets; (g) obtain insurance coverage with respect to the liabilities and obligations of the Trustees under this Trust Agreement (in the form of an errors and omissions policy or otherwise); (h) retain and pay such independent law firms as counsel to the Plan Trust as the Trustees in their sole discretion may select to perform such other functions as may be appropriate in the Trustees’ sole discretion. The Trustees may commit the Plan Trust to and shall pay such independent law firms reasonable compensation for services rendered and expenses incurred. The Trustees may retain counsel on a nunc pro tunc basis, to a date prior to the Effective Date; (i) retain and pay an independent public accounting firm to perform such reviews and/or audits of the financial books and records of the Plan Trust as may be appropriate in the Trustees’ sole discretion and to prepare and file any tax returns or informational returns for the Plan Trust as may be required. The Trustees may retain an independent accounting firm on a nunc pro tunc basis, to a date prior to the Effective Date. The Trustees may commit the Plan Trust to and shall pay such independent public accounting firm reasonable compensation for services rendered and expenses incurred; and (j) retain and pay such other third parties not contemplated above in this Section 3.1 as the Trustees, in their sole discretion, may deem necessary or appropriate to assist the Trustees in carrying out their powers and duties under this Trust Agreement. The Trustees may commit the Plan Trust to and shall pay all such Persons reasonable compensation for services rendered and expenses incurred, as well as commit the Plan Trust to indemnify any such parties in connection with the performance of services, on a nunc pro tunc basis, to a date prior to the Effective Date.

Authority of Trustees. The In connection with the administration of the Liquidating Trust, except as set forth in this Agreement, the Trustees are hereby authorized to perform any and all acts necessary or desirable to accomplish the purposes of the Plan Trust in accordance with this Trust Agreement and the PlanLiquidating Trust. Without limiting, but subject to, the foregoing express purpose of the Liquidating Trust and to Section 3.2 4.5 hereof, the Trustees shall be expressly authorized, but shall not be required, to: (a) hold legal title to any and all rights of the holders of the Interests Beneficiaries in or arising from the Plan Liquidating Trust Stock and the Stock DistributionsAssets, including, but not limited towithout limitation, collecting and receiving any and all money and other property belonging to the Plan Liquidating Trust; (b) protect and enforce the rights to the Plan Liquidating Trust Stock and the Stock Distributions Assets by any method deemed appropriate including, without limitation, by judicial proceedings or pursuant to any applicable bankruptcy, insolvency, moratorium, moratorium or similar law and general principles of equity; (c) incur or assume liabilities, and pledge Liquidating Trust Assets on behalf of the Liquidating Trust in furtherance of or in connection with the Trustees’ or the Liquidating Trust’s duties, powers, authority and obligations under this Agreement, and determine and satisfy any and all liabilities created, incurred or assumed by the Plan Liquidating Trust; (d) file, if necessary, any and all tax and information returns with respect to the Plan Trust and Liquidating Trust, pay taxes taxes, if any, properly payable by the Plan Liquidating Trust, if anyand provide tax reports to the Beneficiaries as required by law; (e) assert or waive any privilege or defense on behalf of the Plan Trust or LBHI; (f) pay all expenses and make all other payments relating to the Plan Liquidating Trust and its assetsAssets; (gf) obtain reasonable insurance coverage with respect to the their liabilities and obligations of the as Trustees under this Trust Agreement (in the form of an errors and omissions policy or otherwise); (hg) retain and pay such independent law firms as counsel to the Plan Trust manager as the Trustees in their sole discretion may select to perform assist the Trustees in their duties, on such other functions terms as may be appropriate in the Trustees’ sole discretionTrustees deem appropriate. The Trustees may commit the Plan Liquidating Trust to and shall pay such independent law firms reasonable manager such compensation for services rendered and expenses incurred, as the Trustees in their sole discretion shall determine to be appropriate, as well as commit the Liquidating Trust to indemnify any such manager in connection with the performance of services; (h) retain and pay such counsel and other professionals as the Trustees in their sole discretion may select to assist the Trustees in their duties, on such terms as the Trustees deem appropriate. The Trustees may retain commit the Liquidating Trust to and shall pay such counsel on a nunc pro tunc basisand other professionals such compensation for services rendered and expenses incurred, as the Trustees in their sole discretion shall determine to a date be appropriate. A law firm or professional shall not be disqualified from serving the Trustees solely because of its current or prior retention as counsel or professional to the Effective DateCompany or to the independent trustees of the Board; (i) retain and pay an independent public accounting firm to perform such reviews and/or audits of the financial books and records of the Plan Company and/or the Liquidating Trust as may be appropriate in the Trustees’ sole discretion and to prepare and file any tax returns or informational returns for the Plan Liquidating Trust as may be required. The Trustees may retain an independent accounting firm on a nunc pro tunc basis, to a date prior to the Effective Date. The Trustees may commit the Plan Liquidating Trust to and shall pay such independent public accounting firm reasonable such compensation for services rendered and expenses incurred; and, as the Trustees in their sole discretion shall determine to be appropriate, as well as commit the Liquidating Trust to indemnify any such independent public accounting firm in connection with the performance of services; (j) retain and pay such other third parties not contemplated above in this Section 3.1 as the Trustees, in their sole discretion, may deem necessary or appropriate to assist the Trustees in carrying out their powers and duties under this Trust Agreement. The Trustees may commit the Plan Liquidating Trust to and shall pay all such Persons reasonable persons or entities such compensation for services rendered and expenses incurred, as the Trustees in their sole discretion shall determine to be appropriate, as well as commit the Plan Liquidating Trust to indemnify any such parties in connection with the performance of services; (k) employ such employees as the Trustees, in their sole discretion and as consistent with the purposes of the Liquidating Trust, may deem necessary or appropriate to assist the Trustees in carrying out their powers and duties under this Agreement. The Trustees may commit the Liquidating Trust to and shall pay all such employees compensation in the amounts the Trustees shall determine to be appropriate and any employee benefits it may establish pursuant to Section 4.4(l) hereof. If the Trustees determine to employ employees pursuant to this Section 4.4(k), the Trustees shall establish payroll procedures and pay any and all federal, state or local tax withholding required under applicable law with respect to any such employees, and it will take all other actions it deems necessary to effectuate the provisions of this Section 4.4(k); (l) establish and adopt or cease to provide such employee benefits for the benefit of any employees described in Section 4.4(k) hereof as the Trustees, in their sole discretion and as consistent with the purposes of the Liquidating Trust, may deem necessary or appropriate, including, without limitation, the adoption of any group health plan; (m) assert or waive any privilege or defense on a nunc pro tunc basisbehalf of the Liquidating Trust or, with respect to the Liquidating Trust Assets, the Company; (n) compromise, adjust, arbitrate, xxx on or defend, pursue, prosecute abandon, exercise rights, powers and privileges with respect to, or otherwise deal with or settle, in accordance with the terms set forth herein, all Liabilities or claims and all causes of action in favor of or against the Liquidating Trust as the Trustees shall deem advisable; (o) in the Trustees’ sole discretion (subject to ARTICLE 7 hereof and this Section 4.4), take all appropriate action with respect to the Liquidating Trust Assets consistent with the purpose of the Liquidating Trust, including without limitation the avoidance of any transfer or obligation, and the filing, prosecution, settlement or other resolution of claims and causes of action; (p) establish and maintain bank, brokerage and other accounts in the name of the Trustees or the Liquidating Trust and invest any moneys held as part of the Liquidating Trust in accordance with the terms of Section 4.13, limited, however, to such investments that are consistent with the Liquidating Trust’s status as a date prior liquidating trust within the meaning of Treasury Regulations Section 301.7701-4(d); (q) request any appropriate tax determination with respect to the Effective DateLiquidating Trust; and (r) take or refrain from taking any and all actions the Trustees reasonably deem necessary or convenient for the continuation, protection and maximization of the Liquidating Trust Assets or to carry out the purposes hereof.

Authority of Trustees. The Trustees are authorized to perform any and all acts necessary Among the other powers stated or desirable to accomplish implied herein, in connection with the purposes administration of the Plan Trust in accordance with this Trust Agreement and the Plan. Without limiting, but subject to, the foregoing and Section 3.2 hereofTrust, the Trustees shall be expressly authorizedmay exercise the following powers, but shall not be required, toauthority and discretion: (a) hold legal title to endorse, deposit and collect any and all rights notes, checks, bills of exchange, trade acceptance, other instruments for the payment of money, in the name of the holders of Company or otherwise, that the Interests Trustees may receive in or arising from connection with the Plan Trust Stock and the Stock Distributions, including, but not limited to, collecting any and all money and other property belonging to the Plan TrustProperty; (b) protect to collect all property, assets and enforce rights in the rights Trust Property, and to pay, discharge and satisfy all claims, expenses, charges relating to the Plan Company’s liabilities and other obligations with respect to the Trust Stock Property, the Trust and the Stock Distributions Trustees as mandated by any method deemed appropriate including, without limitation, by judicial proceedings or pursuant to any applicable bankruptcy, insolvency, moratorium, or similar law and general principles of equitylaws; (c) determine to enter into contracts and satisfy any agreements with respect to the Trust Property and all liabilities created, incurred or assumed by the Plan Trustrelated matters; (d) fileto invest amounts received by them as Trustees, if necessarypending distribution; provided, however, that such investment powers shall be limited to investments in (i) direct obligations of the United States of America or obligations of any agency or instrumentality thereof which mature not later than one year from the date of acquisition thereof, (ii) money market deposit accounts, checking accounts, savings accounts, or certificates of deposit, or other time deposit accounts which mature not later than one year from the date of acquisition thereof which are issued by a commercial bank or savings institution organized under the laws of the United States of America or any state thereof, or (iii) other temporary investments not inconsistent with the Trust’s status as a liquidating trust for tax purposes; (e) to file any and all tax returns required in connection with the Trust created hereby and information returns with respect to the Plan Trust and pay any taxes properly payable by the Plan Trust, if any; (e) assert or waive any privilege or defense on behalf Trust out of the Plan Trust or LBHIProperty; (f) pay all expenses and make all other payments relating to select a fiscal year for the Plan Trust and its assetsTrust; (g) obtain insurance coverage to compromise, adjust, arbitrate, xxx on or defend, abandon or otherwise deal with respect to the liabilities and obligations settle claims in favor of or against this Trust as the Trustees under this Trust Agreement (in the form of an errors and omissions policy or otherwise);shall deem best; and (h) retain and pay such independent law firms as counsel to the Plan Trust as the Trustees in their sole discretion may select to perform such other functions as may be appropriate in the Trustees’ sole discretion. The Trustees may commit the Plan Trust to and shall pay such independent law firms reasonable compensation for services rendered and expenses incurred. The Trustees may retain counsel on a nunc pro tunc basis, to a date prior to the Effective Date; (i) retain and pay an independent public accounting firm to perform such reviews and/or audits of the financial books and records of the Plan Trust as may be appropriate in the Trustees’ sole discretion and to prepare and file any tax returns or informational returns for the Plan Trust as may be required. The Trustees may retain an independent accounting firm on a nunc pro tunc basis, to a date prior to the Effective Date. The Trustees may commit the Plan Trust to and shall pay such independent public accounting firm reasonable compensation for services rendered and expenses incurred; and (j) retain and pay such other third parties not contemplated above in this Section 3.1 as the Trustees, in their sole discretion, may deem do everything necessary or appropriate advisable to assist carry out the Trustees in carrying out their powers and duties under purpose of this Trust Agreement. The Trustees may commit , including appointing, engaging or retaining any employee, agent, advisor, representative, accountants or other independent contractor to serve the Plan Trust to and shall pay all such Persons reasonable compensation for services rendered and expenses incurred, as well as commit interests of the Plan Trust to indemnify any such parties in connection with the performance of services, on a nunc pro tunc basis, to a date prior to the Effective DateBeneficiaries.

Authority of Trustees. The Trustees are authorized to perform any and all acts necessary Among the other powers stated or desirable to accomplish implied herein, in connection with the purposes administration of the Plan Trust in accordance with this Trust Agreement and the Plan. Without limiting, but subject to, the foregoing and Section 3.2 hereofTrust, the Trustees shall be expressly authorizedin their fiduciary capacities may exercise the following powers, but shall not be required, toauthority and discretion: (a) to hold legal title to any and all rights of the holders of the Interests Beneficiaries in or arising from the Plan sale of any Trust Stock Property, and the Stock Distributions, including, but not limited to, collecting to receive and collect any and all money and other property belonging to the Plan Trustpayments due in connection with any such sales; (b) to receive, hold, maintain, grant, sell, exchange, convey, release, assign or otherwise transfer legal title to any Trust Property; (c) to hold Trust Property in the name of a nominee or in any other way without disclosing the trust relationship; (d) to enter into contracts and agreements with respect to the Trust Property and related matters; (e) to execute and deliver, upon proper payment, partial and complete releases of any third party obligations transferred to the Trust; (f) to protect and enforce the rights vested in the Trustees to the Plan Trust Stock and the Stock Distributions Property by this Trust Agreement by any method deemed appropriate appropriate, including, without limitation, by judicial proceedings or pursuant to any applicable bankruptcy, insolvency, moratorium, or similar law and general principles of equityproceedings; (cg) determine and satisfy to take any and all liabilities created, incurred or assumed by the Plan Truststeps necessary to establish clear title to any Trust Property; (dh) fileto employ legal counsel, if necessaryaccountants, advisors, custodians and other agents in connection with the administration or termination of this Trust, to delegate to them any powers of the Trustees, and to pay out of the Trust Property to such legal counsel, accountants, advisors, custodians and other agents reasonable compensation for services rendered; (i) to file any and all tax returns required in connection with the Trust created hereby and information returns with respect to the Plan Trust and pay any taxes properly payable by the Plan Trust, if anyTrust out of the Trust Property; (ej) assert or waive any privilege or defense on behalf of to select a fiscal year for the Plan Trust or LBHITrust; (fk) pay all expenses to compromise, adjust, arbitrate, xxx on or defend, abandon or otherwise deal with and make all other payments relating to the Plan Trust and its assets; (g) obtain insurance coverage with respect to the liabilities and obligations settle claims in favor of the Trustees under or against this Trust Agreement (in the form of an errors and omissions policy or otherwise); (h) retain and pay such independent law firms as counsel to the Plan Trust as the Trustees in their sole discretion may select to perform such other functions as may be appropriate in the Trustees’ sole discretion. The Trustees may commit the Plan Trust to and shall pay such independent law firms reasonable compensation for services rendered and expenses incurred. The Trustees may retain counsel on a nunc pro tunc basis, to a date prior to the Effective Date; (i) retain and pay an independent public accounting firm to perform such reviews and/or audits of the financial books and records of the Plan Trust as may be appropriate in the Trustees’ sole discretion and to prepare and file any tax returns or informational returns for the Plan Trust as may be required. The Trustees may retain an independent accounting firm on a nunc pro tunc basis, to a date prior to the Effective Date. The Trustees may commit the Plan Trust to and shall pay such independent public accounting firm reasonable compensation for services rendered and expenses incurreddeem best; and (jl) retain to take any and pay such all other third parties not contemplated above in this Section 3.1 as the Trustees, in their sole discretion, may deem actions which are necessary or appropriate to assist desirable for the Trustees in carrying out their powers orderly liquidation of the Assets and duties under this Trust Agreement. The Trustees may commit the Plan Trust to and shall pay all such Persons reasonable compensation for services rendered and expenses incurred, as well as commit distribution of the Plan Trust to indemnify any such parties in connection with the performance of services, on a nunc pro tunc basis, to a date prior proceeds resulting therefrom to the Effective DateBeneficiaries.

Authority of Trustees. The Trustees are authorized to perform any and all acts necessary or desirable to accomplish the purposes of the Plan Trust in accordance with the Confirmation Order, this Trust Agreement and the Plan. Without limiting, but subject to, the foregoing and Section 3.2 hereof, the Trustees shall be expressly authorized, but shall not be required, to: (a) hold legal title to any and all rights of the holders of the Trust Interests in or arising from the Plan Trust Stock and the Stock Distributions, including, but not limited to, collecting any and all money and other property belonging to the Plan Trust; (b) protect and enforce the rights to the Plan Trust Stock and the Stock Distributions by any method deemed appropriate including, without limitation, by judicial proceedings or pursuant to any applicable bankruptcy, insolvency, moratorium, or similar law and general principles of equity; (c) determine and satisfy any and all liabilities created, incurred or assumed by the Plan Trust; (d) file, if necessary, any and all tax and information returns with respect to the Plan Trust and pay taxes properly payable by the Plan Trust, if any; (e) assert or waive any privilege or defense on behalf of the Plan Trust or LBHIHoldings Ltd.; and its assets; (f) pay all expenses and make all other payments relating to the Plan Trust and its assets;Trust (g) obtain and pay for insurance coverage with respect to the liabilities and obligations of the Trustees under this Trust Agreement (in the form of an errors and omissions policy or otherwise); (h) retain and pay such independent law firms as counsel to the Plan Trust as the Trustees in their sole discretion may select to perform such other functions as may be appropriate in the Trustees’ sole discretion. The Trustees may commit the Plan Trust to to, and shall shall, pay such independent law firms reasonable compensation for actual and necessary services rendered and actual and necessary expenses incurred. The Trustees may retain counsel on a nunc pro tunc basis, to a date prior to the Effective Date; (i) retain and pay an independent public accounting firm to perform such reviews and/or audits of the financial books and records of the Plan Trust as may be appropriate in the Trustees’ sole discretion and to prepare and file any tax returns or informational returns for the Plan Trust as may be required. The Trustees may retain an independent accounting firm on a nunc pro tunc basis, to a date prior to the Effective Date. The Trustees may commit the Plan Trust to to, and shall shall, pay such independent public accounting firm reasonable compensation for actual and necessary services rendered and actual and necessary expenses incurred; and (j) and retain and pay such other third parties not contemplated above in this Section 3.1 as the Trustees, in their sole discretion, may deem necessary or appropriate to assist the Trustees in carrying out their powers and duties under this Trust Agreement. The Trustees may commit the Plan Trust to to, and shall shall, pay all such Persons reasonable compensation for actual and necessary services rendered and actual and necessary expenses incurred, as well as commit the Plan Trust to indemnify any such parties in connection with the performance of services, on a nunc pro tunc basis, to a date prior to the Effective Date.