Disbursing Agent. All distributions under the Plan shall be made by the Disbursing Agent on the Effective Date. The Disbursing Agent shall not be required to give any bond or surety or other security for the performance of its duties unless otherwise ordered by the Court. Additionally, in the event that the Disbursing Agent is so otherwise ordered, all costs and expenses of procuring any such bond or surety shall be borne by the Reorganized Debtors.
Disbursing Agent. The Borrowers hereby appoint PHOTOMEDEX, INC., as Lead Borrower, as the “Disbursing Agent” to the Borrowers as it is in the best interest and convenience of the Borrowers that all Advances made by Lender pursuant to this Agreement be made only to the Disbursing Agent rather than to each of the Borrowers individually. Accordingly, the Disbursing Agent shall be the sole entity entitled to receive the funds advanced by Lender under this Agreement and the Disbursing Agent shall make disbursements to the Borrowers as reasonably requested by each Borrower to conduct its respective business. Moreover, the Disbursing Agent and each Borrower agree that the Collection Amount shall be collected from the Collection Account. All of the proceeds received by Lender will be credited by Lender to the Disbursing Agent’s account (or such other account as designated by the Disbursing Agent) and the Disbursing Agent shall have the sole authority to further credit any such collections to each Borrower, individually. Each Borrower hereby irrevocably waives any claim it may have against Lender and hereby indemnifies and holds Lender harmless from and against all damages, losses, claims, demands, liabilities, obligations, actions and causes of action whatsoever which such Borrower may have against Lender which may arise as a result of Advances being made by Lender solely to the Disbursing Agent and/or collections being credited by Lender solely the Disbursing Agent’s account with Lender.
Disbursing Agent. The Liquidating Trust may engage one or more agents to make distributions, including distributions of Units. References in this Liquidating Trust Agreement to distributions by the Liquidating Trust shall include distributions made by a disbursing agent.
Disbursing Agent. The parties agree the closing funds will be disbursed through the trust or escrow account of United Title, 0000 Xxxx Xxxxxxx, Xxxxx 000, Xxxxxx Xxxxx, XX 00000, Xxxxx Xxxxxx, Branch Manager.
Disbursing Agent. The Debtor shall be the Disbursing Agent on the Effective Date and thereafter the Liquidating Trustee shall be the Disbursing Agent. In his discretion, the Liquidating Trustee may employ or contract with other Persons or Entities to assist in or make the Distributions required by the Plan.
Disbursing Agent. All distributions under the Plan shall be made by the Reorganized Debtors. The Disbursing Agent shall not be required to give any bond or surety or other security for the performance of its duties unless otherwise ordered by the Bankruptcy Court. Additionally, in the event that the Disbursing Agent is so otherwise ordered, all costs and expenses of procuring any such bond or surety shall be borne by the Reorganized Debtors.
Disbursing Agent. Promptly after the Effective Time, Parent will (i) make available to BNY Mellon Shareowner Services or other bank or trust company as Parent may choose in its discretion (the “Disbursing Agent”), the shares of Parent Common Stock issuable pursuant to Section 2.1.4, in exchange for shares of Company Common Stock outstanding immediately prior to the Effective Time and (ii) deposit with the Disbursing Agent an amount of cash sufficient to pay the aggregate Gross Distributable Cash Amount and any cash amounts payable under Section 2.1.4, less the Escrow Amounts to be contributed therefrom pro rata.
Disbursing Agent. Promptly after the Effective Time, Parent will (i) make available to BNY Mellon Shareowner Services or other bank or trust company as Parent may choose in its discretion (the “Disbursing Agent”), the shares of Parent Common Stock issuable pursuant to Section 2.1.4, if any, in exchange for shares of Company Common Stock outstanding immediately prior to the Effective Time and (ii) deposit with the Disbursing Agent an amount of cash sufficient to pay the aggregate Gross Distributable Cash Amount and any cash amounts payable under Section 2.1.4, less the Escrow Amounts to be contributed therefrom pro rata in cash and shares of Parent Common Stock. The Disbursing Agent will invest the deposited cash sums in its discretion (provided that Parent will be responsible for replacing any losses of principal to such resulting from such investments), and all interest thereon will be paid to Parent for its sole benefit.
Disbursing Agent. The Disbursing Agent shall act as disbursing agent in effecting the exchange of cash for Company Units which are converted into the right to payment pursuant to Section 2.02 and the terms of the Disbursing Agent Agreement. To facilitate such exchange, the Company or the Disbursing Agent shall provide the Unitholder with a copy of the Letter of Transmittal. On the Closing Date or, with respect to any Company Units that have not been surrendered to the Disbursing Agent on the Closing Date, one (1) Business Day after surrender of such Company Units together with a duly executed and completed Letter of Transmittal, the Disbursing Agent shall, subject to Section 2.09, pay the Unitholder that has surrendered its Company Units, together with a duly executed and completed Letter of Transmittal, the amount of cash to which it is entitled under Section 2.02 in accordance with the Closing Consideration Schedule. Until so surrendered and exchanged, each Company Unit shall represent solely the right to receive the portion of the Unitholder’s Merger Consideration into which such Company Unit shall have been converted pursuant to Section 2.02, and neither the Disbursing Agent nor the Surviving Company shall be required to pay the holder thereof the cash to which it would otherwise have been entitled pursuant to this Agreement. Notwithstanding anything to the contrary, the Disbursing Agent shall not be liable to the Unitholder for any portion of the Unitholder’s Merger Consideration delivered to a Governmental Body if such delivery is required pursuant to any applicable abandoned property, escheat or similar Law.
Disbursing Agent. All distributions under this Plan shall be made by the Disbursing Agent on and after the Effective Date as provided herein. The Disbursing Agent shall not be required to give any bond or surety or other security for the performance of its duties. The Reorganized Debtors shall use commercially reasonable efforts to provide the Disbursing Agent (if other than the Reorganized Debtors) with the amounts of Claims and the identities and addresses of holders of Claims, in each case, as set forth in the Debtors’ or Reorganized Debtors’ books and records. The Reorganized Debtors shall cooperate in good faith with the applicable Disbursing Agent (if other than the Reorganized Debtors) to comply with the reporting and withholding requirements outlined in section 6.18 of this Plan.
