Common use of Authority With Respect to Distribution of Funds and Review of Claims Operations Clause in Contracts

Authority With Respect to Distribution of Funds and Review of Claims Operations. Subject to the approval and supervision of the District Court and as specified more fully in this Settlement Facility Agreement: (i) the Finance Committee shall (1) select the Financial Advisor (as provided at Section 4.04) who shall in turn select any investment managers under the procedures specified in the Depository Trust Agreement to oversee the investment of the assets paid to the Settlement Facility under the terms of the Funding Payment Agreement; and (2) provide direction to the Financial Advisor regarding liquidity needs of the Trust and tax planning and supervise the Financial Advisor to assure that the investment management and other tasks assigned to the Financial Advisor are performed in accordance with this Settlement Facility Agreement and the Depository Trust Agreement; (ii) in conjunction with the Independent Assessor, the Finance Committee shall (1) in accordance with the provisions of Section 7.01, conduct the analysis and projections necessary to determine the availability of funds for payment of all categories of Claims, including periodic analyses and estimates regarding cost and projected costs (iii) the Finance Committee shall, as specified in the Depository Trust Agreement, (1) direct the paying agent to disburse payments for Allowed Claims or for other purposes approved in accordance with this Settlement Facility Agreement; and (2) in connection with the annual budget process, recommend and establish salaries, benefits, fees and expenses of the staff as specified at Sections 4.02(e) and 7.03(e) and as consistent with the Litigation Facility Agreement. The Finance Committee shall receive all reports and audits regarding Claims resolution in the Settlement Facility and the Litigation Facility, including results of quality control reviews and appeals, and may request and arrange for any additional reports or reviews.

Authority With Respect to Distribution of Funds and Review of Claims Operations. Subject to the approval and supervision of the District Court and as specified more fully in this Settlement Facility Agreement: (i) , the Finance Committee shall (1) select the Financial Advisor (as provided at Section 4.04) who shall in turn select and any investment managers under the procedures specified in the Depository Trust Agreement to oversee the investment of the assets paid to the Settlement Facility under the terms of the Funding Payment Agreement; and (2) provide direction to with the concurrence of the Financial Advisor regarding liquidity needs of the Trust and tax planning and supervise (or, if the Financial Advisor declines to assure that give such concurrence, upon order of the investment management and other tasks assigned MDL 926 Court), provide directions to the Financial Advisor are performed in accordance Trustee with this respect to investment and management of the assets paid to the Settlement Facility Agreement and the Depository Trust Agreement; Facility; (ii) in conjunction with the Independent Assessor, the Finance Committee shall (13) in accordance with the provisions of Section 7.01, conduct the analysis and projections necessary to determine the availability of funds for payment of all categories of Claims, including periodic analyses ; (4) develop recommendations for submission to the District Court regarding the release of funds payable from the Settlement Fund and estimates regarding cost and projected costs (iii) the Finance Committee shallLitigation Fund, as specified at Article VII herein; (5) review proposed settlements of Non-Settling Personal Injury Claims to determine the adequacy of funds for payments of such Claims and to assure processing, litigation and resolution of Non-Settling Personal Injury Claims within the allotted Litigation Fund; (6) develop recommendations for submission to the District Court regarding the necessity for deferrals or reductions in the Depository Trust Agreement, Claim payments; (17) as specified herein, direct the paying agent to disburse payments for Allowed Claims or for other purposes approved in accordance with this Settlement Facility Agreement; and (2) in connection with the annual budget process, 8) recommend and establish salaries, benefits, fees and expenses of the staff Settlement Facility and Litigation Facility, as specified at Sections 4.02(e) and Section 7.03(e) and as consistent with the Litigation Facility Agreement). The Finance Committee shall receive all reports and audits regarding Claims resolution in the Settlement Facility and the Litigation Facility, including results of quality control reviews and appeals, and may request and arrange for any additional reports or reviews.