Common use of Effect of Resignation or Removal Clause in Contracts

Effect of Resignation or Removal. The death, resignation, incompetency or removal of the Litigation Trustee shall not operate to terminate the Litigation Trust created by this Litigation Trust Agreement or to revoke any existing agency created pursuant to the terms of this Litigation Trust Agreement or invalidate any action theretofore taken by the Litigation Trustee or any prior Litigation Trustee. In the event of the resignation or removal of the Litigation Trustee, such Litigation Trustee will promptly (a) execute and deliver such documents, instruments and other writings as may be ordered by the Bankruptcy Court or reasonably requested by the successor Litigation Trustee to effect the termination of such Litigation Trustee’s capacity under this Litigation Trust Agreement, (b) deliver to the Bankruptcy Court or the successor Litigation Trustee all documents, instruments, records and other writings related to the Litigation Trust as may be in the possession of such Litigation Trustee (provided that such Litigation Trustee may retain one copy of such documents for archival purposes) and (c) otherwise assist and cooperate in effecting the assumption of its obligations and functions by such successor Litigation Trustee.

Effect of Resignation or Removal. The death, resignation, incompetency removal, incompetency, bankruptcy or removal insolvency of the Litigation Liquidating Trustee shall not operate to terminate the Litigation Liquidating Trust created by this Litigation Trust Agreement or to revoke any existing agency created pursuant to the terms of this Litigation Trust Agreement Agreement, the Plan or the Confirmation Order or invalidate any action theretofore taken by the Litigation Liquidating Trustee. All fees and expenses properly incurred by the Liquidating Trustee prior to the resignation, incompetency or removal of the Liquidating Trustee shall be paid from the Liquidating Trust Assets, unless such fees and expenses are disputed by (a) the Trust Advisory Board or (b) the successor Liquidating Trustee, in which case the Bankruptcy Court shall resolve the dispute and any prior Litigation Trusteedisputed fees and expenses of the predecessor Liquidating Trustee that are subsequently allowed by the Bankruptcy Court shall be paid from the Liquidating Trust Assets. In the event of the resignation or removal of the Litigation Liquidating Trustee, such Litigation Liquidating Trustee will shall: (i) promptly (a) execute and deliver such documents, instruments and other writings as may be ordered by the Bankruptcy Court or reasonably requested by the successor Litigation Liquidating Trustee or directed by the Bankruptcy Court to effect the termination of such Litigation Liquidating Trustee’s capacity under this Litigation Trust Agreement, ; (bii) promptly deliver to the Bankruptcy Court or the successor Litigation Liquidating Trustee all documents, instruments, records and other writings related to the Litigation Liquidating Trust as may be in the possession of such Litigation Trustee (provided that such Litigation Trustee may retain one copy of such documents for archival purposes) Liquidating Trustee; and (ciii) otherwise assist and cooperate in effecting the assumption of its obligations and functions by such successor Litigation Liquidating Trustee.

Effect of Resignation or Removal. The death, dissolution, resignation, incompetency or removal of the Litigation Trustee Trustee, as applicable, shall not operate to terminate the Litigation Trust created by this Litigation Trust Agreement or to revoke any existing agency created pursuant to the terms of this Litigation Trust Agreement or invalidate any action theretofore taken by the Litigation Trustee or any prior Litigation Trustee. In the event of the resignation or removal of the Litigation Trustee, such Litigation Trustee will promptly (a) execute and deliver such documents, instruments and other writings as may be ordered by the Bankruptcy Court or reasonably requested by Litigation Trust Advisory Board or the successor Litigation Trustee to effect the termination of such Litigation Trustee’s 's capacity under this Litigation Trust Agreement, (b) deliver to the Bankruptcy Court (if required), the Litigation Trust Advisory Board or the successor Litigation Trustee all documents, instruments, records and other writings related to the Litigation Trust as may be in the possession of such Litigation Trustee (provided that such Litigation Trustee may retain one copy of such documents for archival purposes) and (c) otherwise assist and cooperate in effecting the assumption of its obligations and functions by such successor Litigation Trustee.

Effect of Resignation or Removal. The death, resignation, incompetency removal or removal bankruptcy of the Litigation Trustee Trust Administrator shall not operate to terminate the Litigation Trust created by this Litigation Trust Agreement or to revoke any existing agency created pursuant to the terms of the Plan, the Confirmation Order or this Litigation Trust Agreement or invalidate any action theretofore taken by the Litigation Trustee Trust Administrator. The exculpation, indemnity and limitation of liability provisions of Article X of this Trust Agreement shall survive the resignation, removal or bankruptcy of the Trust Administrator. All fees and expenses properly incurred by the Trust Administrator prior to the resignation, Incompetency, removal or bankruptcy of the Trust Administrator shall be paid from the Avoidance Action Trust Administrative Cash, unless such fees and expenses are disputed by (x) the Trust Monitor or (y) the successor Trust Administrator, in which case the Bankruptcy Court shall resolve the dispute and any prior Litigation Trusteedisputed fees and expenses of the predecessor Trust Administrator that are subsequently allowed by the Bankruptcy Court shall be paid from the Avoidance Action Trust Administrative Cash. In the event of the resignation resignation, removal or removal bankruptcy of the Litigation TrusteeTrust Administrator, such Litigation Trustee will promptly Trust Administrator shall: (a) promptly execute and deliver such documents, instruments and other writings as may be ordered by the Bankruptcy Court or reasonably requested by the successor Litigation Trustee Trust Administrator or directed by the Bankruptcy Court to effect the termination of such Litigation TrusteeTrust Administrator’s capacity under this Litigation Trust Agreement, ; (b) promptly deliver to the Bankruptcy Court or the successor Litigation Trustee Trust Administrator all documents, instruments, records and other writings related to the Litigation Trust as may be in the possession of such Litigation Trustee (provided that such Litigation Trustee may retain one copy of such documents for archival purposes) and Trust Administrator; and (c) otherwise assist and cooperate in effecting the assumption of its obligations and functions by such successor Litigation TrusteeTrust Administrator.

Effect of Resignation or Removal. The death, resignation, incompetency removal, incompetency, bankruptcy, or removal insolvency of the Litigation Liquidating Trustee shall not operate to terminate the Litigation Liquidating Trust created by this Litigation Trust Agreement or to revoke any existing agency created pursuant to the terms of this Litigation Trust Agreement Agreement, the Plan, or the Confirmation Order or invalidate any action theretofore taken by the Litigation Liquidating Trustee. All fees and expenses properly incurred by the Liquidating Trustee prior to the resignation, incompetency or removal of the Liquidating Trustee shall be paid from the Liquidating Trust Assets, unless such fees and expenses are disputed by the Liquidating Trust Advisory Board, in which case the Bankruptcy Court shall resolve the dispute and any prior Litigation Trusteedisputed fees and expenses of the predecessor Liquidating Trustee that are subsequently allowed by the Bankruptcy Court shall be paid from the Liquidating Trust Assets. In the event of the resignation or removal of the Litigation Liquidating Trustee, such Litigation Liquidating Trustee will promptly shall (a) promptly execute and deliver such documents, instruments and other writings as may be ordered reasonably requested by the Liquidating Trust Advisory Board or the successor Liquidating Trustee or directed by the Bankruptcy Court or reasonably requested by the successor Litigation Trustee to effect the termination of such Litigation Liquidating Trustee’s capacity under this Litigation Trust Agreement, (b) promptly deliver to the Bankruptcy Court or Liquidating Trust Advisory Board and the successor Litigation Liquidating Trustee all documents, instruments, records and other writings related to the Litigation Liquidating Trust as may be in the possession of such Litigation Trustee (provided that such Litigation Trustee may retain one copy of such documents for archival purposes) Liquidating Trustee, and (c) otherwise assist and cooperate in effecting the assumption of its obligations and functions by such successor Litigation Liquidating Trustee.

Effect of Resignation or Removal. The death, resignation, removal, or incompetency or removal of the Litigation Trustee Liquidation Trust Administrator shall not operate to terminate the Litigation Liquidation Trust created by this Litigation Trust Agreement or to revoke any existing agency created pursuant to the terms of this Litigation Trust Agreement Agreement, the Plan or the Confirmation Order or invalidate any action theretofore taken by the Litigation Trustee Liquidation Trust Administrator. All fees and expenses incurred by the Liquidation Trust Administrator prior to the resignation, incompetency or removal of the Liquidation Trust Administrator shall be paid from the Trust Proceeds, unless such fees and expenses are disputed by (a) the Liquidation Trust Committee or (b) the successor Liquidation Trust Administrator, in which case the Bankruptcy Court shall resolve the dispute and any prior Litigation Trusteedisputed fees and expenses of the predecessor Liquidation Trust Administrator that are subsequently allowed by the Bankruptcy Court shall be paid from the Trust Proceeds. In the event of the resignation or removal of the Litigation TrusteeLiquidation Trust Administrator, such Litigation Trustee will Liquidation Trust Administrator shall: (i) promptly (a) execute and deliver such documents, instruments and other writings as may be ordered by the Bankruptcy Court or reasonably requested by the successor Litigation Trustee Liquidation Trust Administrator or directed by the Bankruptcy Court to effect the termination of such Litigation TrusteeLiquidation Trust Administrator’s capacity under this Litigation Trust Agreement, ; (bii) promptly deliver to the Bankruptcy Court or the successor Litigation Trustee Liquidation Trust Administrator all documents, instruments, records and other writings related to the Litigation Liquidation Trust as may be in the possession of such Litigation Trustee (Liquidation Trust Administrator; provided that such Litigation Trustee Liquidation Trust Administrator may retain one copy of each of such documents for archival its purposes) ; and (ciii) otherwise assist and cooperate in effecting the assumption of its obligations and functions by such successor Litigation TrusteeLiquidation Trust Administrator.

Effect of Resignation or Removal. The death, resignation, incompetency or removal of the Litigation Trustee shall not operate to terminate the Litigation Trust created by this Litigation Trust Agreement or to revoke any existing agency created pursuant to the terms of this Litigation Trust Agreement or invalidate any action theretofore taken by the Litigation Trustee or any prior Litigation Trustee. In the event of the resignation or removal of the Litigation Trustee, such Litigation Trustee will promptly (a) execute and deliver such documents, instruments and other writings as may be ordered by the Bankruptcy Court or reasonably requested by the successor Litigation Trustee to effect the termination of such Litigation Trustee’s 's capacity under this Litigation Trust Agreement, (b) deliver to the Bankruptcy Court (if required) or the successor Litigation Trustee all documents, instruments, records and other writings related to the Litigation Trust as may be in the possession of such Litigation Trustee (provided that such Litigation Trustee may retain one copy of such documents for archival purposes) and (c) otherwise assist and cooperate in effecting the assumption of its obligations and functions by such successor Litigation Trustee.

Effect of Resignation or Removal. The death, dissolution, resignation, incompetency or removal of the Litigation Trustee Distribution Trustee, as applicable, shall not operate to terminate the Litigation Distribution Trust created by this Litigation Distribution Trust Agreement or to revoke any existing agency created pursuant to the terms of this Litigation Distribution Trust Agreement or invalidate any action theretofore taken by the Litigation Distribution Trustee or any prior Litigation Distribution Trustee. In the event of the resignation or removal of the Litigation Distribution Trustee, such Litigation Distribution Trustee will promptly (a) execute and deliver such documents, instruments and other writings as may be ordered by the Bankruptcy Court or reasonably requested by Distribution Trust Advisory Board or the successor Litigation Distribution Trustee to effect the termination of such Litigation Distribution Trustee’s 's capacity under this Litigation Distribution Trust Agreement, (b) deliver to the Bankruptcy Court (if required), the Distribution Trust Advisory Board or the successor Litigation Distribution Trustee all documents, instruments, records and other writings related to the Litigation Distribution Trust as may be in the possession of such Litigation Distribution Trustee (provided that such Litigation Distribution Trustee may retain one copy of such documents for archival purposes) and (c) otherwise assist and cooperate in effecting the assumption of its obligations and functions by such successor Litigation Distribution Trustee.

Effect of Resignation or Removal. The death, resignation, incompetency removal, incompetency, bankruptcy or removal insolvency of the Litigation Trustee shall not operate to terminate the Litigation Trust created by this Litigation Trust Agreement or to revoke any existing agency created pursuant to the terms of this Litigation Trust Agreement Agreement, the Plan or the Confirmation Order or invalidate any action theretofore taken by the Litigation Trustee. All fees and expenses appropriately incurred by the Trustee prior to the resignation, incompetency or removal of the Trustee shall be paid from the Trust Property as provided herein, unless such fees and expenses are disputed by the successor Trustee, in which case the Bankruptcy Court shall resolve the dispute and any prior Litigation Trusteedisputed fees and expenses of the predecessor Trustee that are subsequently allowed by the Bankruptcy Court shall be paid from the Trust Property. In the event of the resignation or removal of the Litigation Trustee, such Litigation Trustee will shall: (i) promptly (a) execute and deliver such documents, instruments and other writings as may be ordered by the Bankruptcy Court or reasonably requested by the successor Litigation Trustee or directed by the Bankruptcy Court to effect the termination of such Litigation Trustee’s 's capacity under this Litigation Trust Agreement, ; (bii) promptly deliver to the Bankruptcy Court or the successor Litigation Trustee all documents, instruments, records and other writings related to the Litigation Trust as may be in the possession of such Litigation Trustee (provided Trustee; provided, however, that such Litigation Trustee may retain one copy of each of such documents for archival its purposes) ; and (ciii) otherwise assist and cooperate in effecting the assumption of its obligations and functions by such successor Litigation Trustee.