Common use of DISTRIBUTIONS TO UNIT HOLDERS Clause in Contracts

DISTRIBUTIONS TO UNIT HOLDERS. The Trustee shall have discretion to determine the number of shares of Global Resource Corporation, or the amount of cash, or other property, if any, to be distributed to the Holders of the Units and the time at which any such distribution shall be made. However, this discretionary authority has been provided solely in order to permit the Trustee to delay distribution of those funds which are in excess of the immediate payment requirements of existing claims so as to create a reserve for contingent liabilities as otherwise provided above. It is not intended that the Trustee shall exercise their discretion to withhold distributions after payment of the claims and liabilities. Rather, it is intended that the Trustee shall distribute all funds or other property thereafter as quickly as possible after making provisions for current expenses of the Trust. It is specifically agreed and understood that distribution to the Holders shall not be made until all claims are resolved by (i) release, (ii) nonappealable final judgment of a court of competent jurisdiction or (iii) expiration of any applicable time for filing claims as prescribed by controlling statutes of limitations for any potential claims. Trustee shall have a lien on all trust property to the extent of and until any fees and expenses incurred by Trustee, including but not limited to attorneys fees and court costs are reimbursed or paid for with Trust funds. Trustee are authorized by the Holders to sell Trust Property to obtain funds necessary for such reimbursement or payment of trust expenses.