Compensation of the Liquidating Trustee. The Trustees comprising the Liquidating Trustee shall be entitled to reasonable compensation in an amount consistent with that of similar functionaries in similar types of reorganization proceedings, provided, however, that they shall not receive double compensation for functions that they perform as both Liquidating Trustee and Estate Representative.
Compensation of the Liquidating Trustee. (a) The Original Trustee shall be compensated for his services, and reimbursed for his expenses, in accordance with Schedule A attached hereto, as a cost of administering the Liquidating Trust. In the event a successor trustee is appointed, such successor shall be compensated for his or her services, and reimbursed for his or her expenses, as a cost of administering the Liquidating Trust, in accordance with and pursuant to the terms of, a separate agreement to be negotiated and executed by the Plan Advisory Committee.
Compensation of the Liquidating Trustee. (a) The Liquidating Trustee, if other than a General Partner, shall be entitled to receive such compensation for its services as Liquidating Trustee as may be approved by a majority in interest of the Limited Partners. The Liquidating Trustee shall agree not to resign at any time without 60 days prior written notice and, if other than a General Partner, may be removed at any time, with or without cause, by written notice of removal approved by a majority in interest of the Limited Partners.
Compensation of the Liquidating Trustee. The Liquidating Trust shall, upon receipt of periodic xxxxxxxx, reimburse the Liquidating Trustee for the actual reasonable out-of-pocket expenses incurred by the Liquidating Trustee in connection with its duties under this Agreement, including, without limitation, necessary travel, lodging, postage, telephone and facsimile charges. The Liquidating Trustee and the Liquidating Trustee’s Agents shall be entitled to receive reasonable compensation for services rendered on behalf of Liquidating Trust. Such compensation is set forth in the engagement letter attached hereto as Exhibit A. Any change in compensation is void and without effect unless such change in compensation is authorized by a Final Order following notice and an opportunity to be heard. The Liquidating Trust Assets shall be subject to the claims of the Liquidating Trustee, and the Liquidating Trustee shall be entitled to reimburse itself out of any available Cash in the Liquidating Trust for (a) actual out-of-pocket expenses and (b) any and all loss, liability, expense or damage which the Liquidating Trustee sustains unless such loss, liability, expense or damage is the result of the Liquidating Trustee’s willful misconduct, gross negligence or fraud in the exercise and performance of its duties under this Agreement. All compensation and other amounts payable to the Liquidating Trustee shall be paid from the Liquidating Trust Assets. If the Cash in the Liquidating Trust is insufficient to compensate and reimburse the Liquidating Trustee for any amounts to which it is entitled to under this Agreement, the Liquidating Trustee is authorized to reduce Liquidating Trust Assets to Cash in a commercially reasonable manner for purposes of compensating or reimbursing the Liquidating Trustee in accordance with this Agreement.
Compensation of the Liquidating Trustee. The Liquidating Trustees shall not be compensated for their service to the Trust. The Liquidating Trustees shall, however, be entitled to reimbursement for their reasonable out of pocket expenses incurred on behalf of the Trust.
