Impact of Appointment of Creditors’ Committee Sample Clauses

Impact of Appointment of Creditors’ Committee. Notwithstanding anything herein to the contrary, if any Noteholder is appointed to and serves on any official committee appointed in the Chapter 11 Case, the terms of this Agreement shall not be construed so as to limit such Noteholder’s exercise of its fiduciary duties as a member of such committee to any person arising from its service on such committee, and any such exercise of such fiduciary duty shall not be deemed to constitute a breach of the terms of this Agreement.
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Impact of Appointment of Creditors’ Committee. If an official committee of holders of unsecured claims or similar body is appointed in the Bankruptcy Proceedings, the Company shall cooperate with the members of the Informal Noteholders’ Committee in seeking to cause the appointment of the members of the Informal Noteholders’ Committee to be members of such committee or body if the Informal Noteholders’ Committee so elects (but the fact of such service on such committee or body shall not otherwise affect the continuing obligations of such Noteholders under this Agreement or the validity or enforceability of this Agreement; provided that, to the extent that a Noteholder is acting in his or its capacity as a member of such committee or body, such Noteholder will not be prohibited from acting as required by the fiduciary duties of a member of such committee or body in its good faith judgment and will not be liable to the parties hereto or in respect hereof for so acting).
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Impact of Appointment of Creditors’ Committee. If an official committee of holders of unsecured claims is appointed by the United States Trustee in the Chapter 11 Cases, the Company shall cooperate with the Consenting Holders in seeking to cause the United States Trustee to appoint the Consenting Holders to be members of such official committee pursuant to Section 1102 of the Bankruptcy Code if the Consenting Holders so elect (but the fact of such service on such committee shall not otherwise affect the continuing obligations of such Consenting Holders under this Agreement or the validity or enforceability of this Agreement; provided that, to the extent that a Consenting Holder is acting in his or its capacity as a member of such committee, such Consenting Holder will not be prohibited from acting as required by the fiduciary duties of a committee member in its good faith judgment and will not be liable to the Company hereunder or in respect hereof for so acting).
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Impact of Appointment of Creditors’ Committee. If an official committee of unsecured creditors is appointed by the United States Trustee in the Chapter 11 Case or by the Dutch Bankruptcy Court in the case of the Moratorium Petition, UPC shall cooperate reasonably with the Participating Noteholders in seeking to cause the United States Trustee or the Dutch Bankruptcy Court, as the case may be, to appoint some or all of the Participating Noteholders to be members of such official committee pursuant to section 1102 of the Bankruptcy Code and the Dutch Bankruptcy Code. Nothing contained in this Agreement shall limit the ability of any Participating Noteholder appointed to such committee to take such acts as a committee member that are required by or consistent with the fiduciary duties of a committee member; provided that the freedom to act as a committee member (including the freedom to vote in committee meetings and to instruct committee professionals to act on behalf of such committee) shall not affect the obligations of the Participating Noteholder to vote its Restricted Claims as provided herein and shall not otherwise affect the continuing obligations of such Participating Noteholder(s) under this Agreement or the validity or enforceability of this Agreement. In the event that an official creditors' committee is so appointed, where the context so permits, all references to the "Committee" set forth herein shall thereafter be deemed to refer to such official creditors' committee until such time as the official creditors' committee is dissolved or disbanded.
Sample 1
Impact of Appointment of Creditors’ Committee. Notwithstanding anything herein to the contrary, if any Noteholder is appointed to and serves on any official committee appointed in the Chapter 11 Case, the terms of this Agreement shall not be construed so as to limit such Noteholder’s exercise of its fiduciary duties as a member of such committee to any person arising from its service on such committee, and any such exercise of such fiduciary duty shall not be deemed to constitute a breach of the terms of this Agreement; provided, however, that serving as a member of such committee shall not relieve the Noteholder of any obligations to vote in favor of the Chapter 11 Plan; provided, further, that nothing in this Agreement shall be construed as requiring any Noteholder to serve on any official committee in the Chapter 11 Case. In addition, Accuride agrees not to object to such Noteholder(s)’ appointment to the committee solely on the basis that such Noteholder(s) engaged in negotiations related to the Restructuring Support Documents or this Agreement or executed this Agreement.
Sample 1
Impact of Appointment of Creditors’ Committee. If an official committee of unsecured creditors is appointed by the United States Trustee in the Chapter 11 Cases, the Trustee shall request that the United States Trustee appoint the Trustee and some or all of the Consenting Holders to be members of such official committee pursuant to section 1102 of the Bankruptcy Code, and the Issuers and AFR shall cooperate reasonably with the Consenting Holders in such efforts. Nothing in this Agreement shall be construed to prevent any Consenting Holder serving on such committee from acting in a manner consistent with its fiduciary duties as a member of any official committee of unsecured creditors appointed in the Chapter 11 Cases pursuant to section 1102 of the Bankruptcy Code.
Sample 1
Impact of Appointment of Creditors’ Committee. If an official committee of unsecured creditors is appointed by the United States Trustee in the Chapter 11 Case, UPC Polska shall cooperate reasonably with the Participating Noteholders in seeking to cause the United States Trustee to appoint some or all of the Participating Noteholders to be members of such official committee pursuant to Section 1102 of the Bankruptcy Code. Nothing contained in this Agreement shall limit the ability of any Participating Noteholder appointed to such committee to take such acts as a committee member that are required by or consistent with the fiduciary duties of a committee member; provided that the freedom to act as a committee member (including the freedom to vote in committee meetings and to instruct committee professionals to act on behalf of such committee) shall not affect the obligations of the Participating Noteholder to vote its Restricted Claims as provided herein and shall not affect the continuing obligations of such Participating Noteholder(s) under this Agreement or the validity or enforceability of this Agreement.
Sample 1
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Related to Impact of Appointment of Creditors’ Committee

  • Appointment of Co-Trustee (a) It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture, and in particular in case of the enforcement thereof on Default, or in the case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee or hold title to the properties, in trust, as herein granted or take any action which may be desirable or necessary in connection therewith, it may be necessary that the Trustee appoint an individual or institution as a separate or co-trustee. The following provisions of this Section 7.10 are adopted to these ends.

  • Appointment of Asset Manager; Acceptance of Appointment The Series hereby appoints the Asset Manager as asset manager to the Series for the purpose of managing the Series #TICKER Asset. The Asset Manager hereby accepts such appointment.

  • Appointment of a Receiver To the extent permitted by applicable law, if an Event of Default shall have occurred and be continuing, and the Equipment Notes either shall have been accelerated pursuant to Section 4.02 or have become due at maturity, the Loan Trustee shall, as a matter of right, be entitled to the appointment of a receiver (who may be the Loan Trustee or any successor or nominee thereof) for all or any part of the Collateral, whether such receivership be incidental to a proposed sale of the Collateral or the taking of possession thereof or otherwise, and, to the extent permitted by applicable law, the Company hereby consents to the appointment of such a receiver and will not oppose any such appointment. Any receiver appointed for all or any part of the Collateral shall be entitled to exercise all the rights and powers of the Loan Trustee with respect to the Collateral.

  • Vacancies; Appointment of Trustees Whenever a vacancy shall exist in the Board of Trustees, regardless of the reason for such vacancy, the remaining Trustees shall appoint any person as they determine in their sole discretion to fill that vacancy, consistent with the limitations under the 1940 Act. Such appointment shall be made by a written instrument signed by a majority of the Trustees or by a resolution of the Trustees, duly adopted and recorded in the records of the Trust, specifying the effective date of the appointment. The Trustees may appoint a new Trustee as provided above in anticipation of a vacancy expected to occur because of the retirement, resignation or removal of a Trustee, or an increase in number of Trustees, provided that such appointment shall become effective only at or after the expected vacancy occurs. As soon as any such Trustee has accepted his appointment in writing, the trust estate shall vest in the new Trustee, together with the continuing Trustees, without any further act or conveyance, and he shall be deemed a Trustee hereunder. The Trustees' power of appointment is subject to Section 16(a) of the 1940 Act. Whenever a vacancy in the number of Trustees shall occur, until such vacancy is filled as provided in this Article II, the Trustees in office, regardless of their number, shall have all the powers granted to the Trustees and shall discharge all the duties imposed upon the Trustees by the Declaration. The death, declination to serve, resignation, retirement, removal or incapacity of one or more Trustees, or all of them, shall not operate to annul the Trust or to revoke any existing agency created pursuant to the terms of this Declaration of Trust.

  • Appointment of Liquidator Upon the Company’s dissolution, the Member will appoint a liquidator, who may but need not be the Member. The liquidator will wind up and liquidate the Company in an orderly, prudent and expeditious manner in accordance with this Article 6.02.

  • Administrative Agent’s Appointment as Attorney-in-Fact, etc (a) Each Grantor hereby irrevocably constitutes and appoints the Administrative Agent and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such Grantor and in the name of such Grantor or in its own name, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this Agreement, and, without limiting the generality of the foregoing, each Grantor hereby gives the Administrative Agent the power and right, on behalf of such Grantor, without notice to or assent by such Grantor, to do any or all of the following:

  • Restrictions on chartering, appointment of managers etc No Borrower shall, in relation to the Ship owned by it:

  • Collateral Agent’s Appointment as Attorney-in-Fact, etc (a) Each Grantor hereby irrevocably constitutes and appoints the Collateral Agent and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such Grantor and in the name of such Grantor or in its own name, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this Agreement, and, without limiting the generality of the foregoing, each Grantor hereby gives the Collateral Agent the power and right, on behalf of such Grantor, without notice to or assent by such Grantor, to do any or all of the following:

  • Appointment of Agents The Custodian may at any time or times in its discretion appoint (and may at any time remove) any other bank or trust company which is itself qualified under the Investment Company Act of 1940, as amended, to act as a custodian, as its agent to carry out such of the provisions of this Article 2 as the Custodian may from time to time direct; provided, however, that the appointment of any agent shall not relieve the Custodian of its responsibilities or liabilities hereunder.

  • Appointment of Consultant The Corporation appoints the Consultant and the Consultant accepts appointment on the terms and conditions provided in this Agreement as a consultant to the Corporation's business, including any other corporations hereafter formed or acquired by the Corporation to engage in any business.

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