Common use of Establishment of Litigation Trust and Appointment of Litigation Trustee Clause in Contracts

Establishment of Litigation Trust and Appointment of Litigation Trustee. (a) A trust, which shall be known as the “Litigation Trust,” is hereby established on behalf of the Litigation Trust Beneficiaries. (b) The Litigation Trustee is hereby appointed as trustee of the Litigation Trust effective as of the Effective Date and agrees to accept and hold the Litigation Trust Assets in trust for the Litigation Trust Beneficiaries subject to the terms of this Litigation Trust Agreement and the Plan. The Litigation Trustee and each successor Litigation Trustee serving from time to time hereunder shall have all the rights, powers and duties set forth herein. (c) Subject to the terms of this Litigation Trust Agreement, any action by the Litigation Trustee and/or the Litigation Trust Advisory Board that affects the interests of more than one Litigation Trust Beneficiary shall be binding and conclusive on all Litigation Trust Beneficiaries even if such Litigation Trust Beneficiaries have different or conflicting interests. (d) The Litigation Trustee and the members of the Litigation Trust Advisory Board may serve without bond.

Establishment of Litigation Trust and Appointment of Litigation Trustee. (a) A trustPursuant to the Plan, the Debtors and the Litigation Trustee hereby establish a trust which shall be known as the “Greektown Litigation Trust,” is hereby established on behalf of and for the benefit of the Litigation Trust Beneficiaries. The Litigation Trustee is hereby authorized to file with any governmental authority any documents necessary to establish the Litigation Trust. (b) The Litigation Trustee is hereby appointed as trustee of the Litigation Trust effective as of the Effective Date of the Plan (the “Effective Date”) and agrees to accept and hold the assets of the Litigation Trust Assets in trust for the Litigation Trust Beneficiaries subject to the terms of the Plan and this Litigation Trust Agreement and the PlanAgreement. The Litigation Trustee and each successor Litigation Trustee trustee serving from time to time hereunder shall have all the rights, powers and duties set forth herein. (c) Subject to the terms of this Litigation Trust Agreement, any Any action by the Litigation Trustee and/or the Litigation Trust Advisory Governing Board that which affects the interests interest of more than one Litigation Trust Beneficiary shall shall, if made in good faith, be binding and conclusive on all Litigation Trust Beneficiaries Beneficiaries, even if such Litigation Trust Beneficiaries beneficiaries have different or conflicting interests. (d) The interests and no Person shall have recourse against the Litigation Trustee and or the members of the Litigation Trust Advisory Governing Board may serve without bondwith respect to any such action.

Establishment of Litigation Trust and Appointment of Litigation Trustee. (a) A trust, which shall be known as the “Litigation Trust,” is hereby established on behalf of the Litigation Trust Beneficiaries. (b) The Litigation Trustee is hereby appointed as trustee of the Litigation Trust effective as of the Effective Date and agrees to accept and hold the Litigation Trust Assets in trust for the Litigation Trust Beneficiaries subject to the terms of the Plan, the Confirmation Order, and this Litigation Trust Agreement and the PlanAgreement. The Litigation Trustee and each successor Litigation Trustee serving from time to time hereunder shall have all the rights, powers and duties set forth herein. (c) Subject to the terms of this Litigation Trust Agreement, any action by the Litigation Trustee and/or the Litigation Trust Advisory Board that affects the interests of more than one Litigation Trust Beneficiary shall be binding and conclusive on all Litigation Trust Beneficiaries even if such Litigation Trust Beneficiaries have different or conflicting interests. (d) The Litigation Trustee and the members of the Litigation Trust Advisory Board may serve without bond. (e) For the avoidance of doubt, none of the Litigation Trustee or any Member of the Litigation Trust Advisory Board is an officer, director, or fiduciary of any of the Reorganized Debtors.

Establishment of Litigation Trust and Appointment of Litigation Trustee. (a) A trust, which shall be known as the “"PNI Litigation Trust,” " is hereby established on behalf of the Litigation Trust Beneficiaries. (b) The Litigation Trustee is hereby appointed as trustee of the Litigation Trust effective as of the Effective Date and agrees to accept and hold the Litigation Trust Assets in trust for the Litigation Trust Beneficiaries subject to the terms of the Plan, the Confirmation Order, and this Litigation Trust Agreement and the PlanAgreement. The Litigation Trustee and each successor Litigation Trustee serving from time to time hereunder shall have all the rights, powers and duties set forth herein. (c) Subject to the terms of this Litigation Trust Agreement, any action by the Litigation Trustee and/or the Litigation Trust Advisory Board Oversight Committee that affects the interests of more than one Litigation Trust Beneficiary shall be binding and conclusive on all Litigation Trust Beneficiaries even if such Litigation Trust Beneficiaries have different or conflicting interests. (d) The Litigation Trustee and the members of the Litigation Trust Advisory Board Oversight Committee may serve without bond.

Establishment of Litigation Trust and Appointment of Litigation Trustee. (a) A trust, which shall be known as the “Litigation Trust,” is hereby established on behalf of the Litigation Trust Beneficiaries. (b) The Litigation Trustee is hereby appointed as trustee of the Litigation Trust effective as of the Effective Date and agrees to accept and hold the Litigation Trust Assets in trust for the Litigation Trust Beneficiaries subject to the terms of the Plan, the Confirmation Order, and this Litigation Trust Agreement and the PlanAgreement. The Litigation Trustee and each successor Litigation Trustee serving from time to time hereunder shall have all the rights, powers and duties set forth herein. (c) Subject to the terms of this Litigation Trust Agreement, any action by the Litigation Trustee and/or the Litigation Trust Advisory Board that affects the interests of more than one Litigation Trust Beneficiary shall be binding and conclusive on all Litigation Trust Beneficiaries even if such Litigation Trust Beneficiaries have different or conflicting interests. (d) The Litigation Trustee and the members of the Litigation Trust Advisory Board may serve without bond. (e) For the avoidance of doubt, none of the Litigation Trustee or any member of the Litigation Trust Advisory Board is an officer, director, or fiduciary of any of the Reorganized Debtors.