Establishment of Trust Advisory Board. (a) The “
Establishment of Trust Advisory Board. On the Effective Date, the Trust Advisory Board shall be established, using the procedures described in the Article XI of Plan. The members of the Trust Advisory Board shall disclose to the Trustee and all other members of the Trust Advisory Board whether any general unsecured claim or equity interest (relating to the Debtors or the Reorganized Debtors) that is held by them personally, by any relative or by any entity with which they are employed or affiliated, has been sold, transferred or otherwise assigned, disposed of or satisfied by any entity other than the Trust.
Establishment of Trust Advisory Board. Section 6.4(f)(iv) of the Liquidating Trust Agreement shall be amended and restated to read in full as follows: “(f)(iv) subject to Section 6.4(d) and Section 6.4(e), in the event of a vacancy in a member’s position (whether by removal, death or resignation), a new member may be appointed, (A) in the case of a CC Member (other than the WF Member so long as Wxxxx Fargo Bank N.A. has not relinquished its right to name a member), by (i) the Creditors’ Committee, as notified in writing to the Trust Advisory Board and the Liquidating Trustee within ten (10) Business Days, or (ii) if the Creditors’ Committee has been dissolved, the CC Members, as notified in writing to the Trust Advisory Board and the Liquidating Trustee within ten (10) Business Days; or (iii) if there are no remaining CC Members, the Liquidating Trustee, as notified in writing to the Trust Advisory Board within ten (10) Business Days; (B) in the case of a WF Member, by Wxxxx Fargo Bank N.A. (unless Wxxxx Fargo Bank N.A. has relinquished its right to name a member, in which case a new member may be appointed as provided in clause (A) above) as notified in writing to the Trust Advisory Board and the Liquidating Trustee within ten (10) Business Days; (C) in the case of an EC Member (other than the TPS Member so long as the TPS Funds have not relinquished their right to name a member, or the PPMA Member so long as PPMA has not relinquished its right to name a member), by the other EC Members; (D) in the case of a TPS Member, by the TPS Funds (unless the TPS Funds have relinquished their right to name a member, in which case a new member may be appointed as provided in clause (C) above) as notified in writing to the Trust Advisory Board and the Liquidating Trustee within ten (10) Business Days; (E) in the case of a PPMA Member, by PPM America Inc. (unless PPM America has relinquished its right to name a member, in which case a new member may be appointed as provided in clause (C) above) as notified in writing to the Trust Advisory Board and the Liquidating Trustee within ten (10) Business Days; or (F) in the case of the CC-EC Member, by (i) the Creditors’ Committee subject to the approval of the EC members (such approval not to be unreasonably withheld), as notified in writing to the Trust Advisory Board and the Liquidating Trustee within ten (10) Business Days, or (ii) if the Creditors’ Committee has been dissolved, the CC Members subject to the approval of the EC Members (such approval not to be u...
