Common use of Liability to Third Persons Clause in Contracts

Liability to Third Persons. No Liquidation Trust Beneficiary shall be subject to any personal liability whatsoever, in tort, contract or otherwise, to any person in connection with the Liquidation Trust Assets, the Trust Proceeds, or the affairs of the Liquidation Trust Administrator. The Liquidation Trust Administrator, agents of and professionals retained by the Liquidation Trust Administrator and the members of the Liquidation Trust Committee shall not be subject to any personal liability whatsoever, in tort, contract or otherwise, to any person in connection with the Liquidation Trust Assets, the Trust Proceeds, or the affairs of the Liquidation Trust, except for its own gross negligence, fraud or reckless, intentional or willful misconduct, and all such persons shall look solely to the Liquidation Trust Assets and/or the Trust Proceeds for satisfaction of claims of any nature arising in connection with affairs of the Liquidation Trust. Other than as set forth in the Plan or the Confirmation Order, nothing in this Section 7.3 shall be deemed to release any Liquidation Trust Beneficiary from any actions or omissions occurring prior to the Effective Date; provided that nothing in this Section 7.3 shall contravene any releases granted pursuant to the Plan or the Confirmation Order.

Liability to Third Persons. No Liquidation Post-Consummation Trust Beneficiary shall be subject to any personal liability whatsoever, in tort, contract or otherwise, to any person in connection with the Liquidation Post-Consummation Trust Assets, the Trust Proceeds, or the affairs of the Liquidation Trust Plan Administrator. The Liquidation Trust Plan Administrator, agents of and professionals retained by the Liquidation Trust Plan Administrator and the members of the Liquidation Post-Consummation Trust Committee shall not be subject to any personal liability whatsoever, in tort, contract or otherwise, to any person in connection with the Liquidation Post-Consummation Trust Assets, the Trust Proceeds, Proceeds or the affairs of the Liquidation Post- Consummation Trust, except for its own gross negligence, fraud or reckless, intentional or willful misconduct, and all such persons shall look solely to the Liquidation Trust Assets and/or the Trust Proceeds for satisfaction of claims of any nature arising in connection with affairs of the Liquidation Post-Consummation Trust. Other than as set forth in the Plan or the Confirmation Order, nothing in this Section 7.3 shall be deemed to release any Liquidation Post-Consummation Trust Beneficiary from any actions or omissions occurring prior to the Effective Date; provided that nothing in this Section 7.3 shall contravene any releases granted pursuant to the Plan or the Confirmation Order.

Liability to Third Persons. No Liquidation Liquidating Trust Beneficiary shall be subject to any personal liability whatsoever, in tort, contract or otherwise, to any person in connection with the Liquidation Liquidating Trust Assets, the Trust Proceeds, Assets or the affairs of the Liquidation Trust AdministratorLiquidating Trustee. The Liquidation Liquidating Trustee, the Liquidating Trust Administrator, agents of and professionals retained by the Liquidation Trust Administrator Professionals and the members of the Liquidation Liquidating Trust Committee Advisory Board shall not be subject to any personal liability whatsoever, in tort, contract or otherwise, to any person (including, in the case of the Liquidating Trustee and members of the Liquidating Trust Advisory Board, to any Liquidating Trust Professionals retained by the Liquidating Trustee in accordance with this Trust Agreement) in connection with the Liquidation Liquidating Trust Assets, the Trust Proceeds, Assets or the affairs of the Liquidation TrustLiquidating Trust and shall not be liable with respect to any action taken or omitted to be taken in good faith, except for its own actions and omissions determined by a final order of the Bankruptcy Court to be due to their respective gross negligence, fraud or recklessintentional fraud, intentional criminal conduct or willful misconduct, and all such persons shall look solely to the Liquidation Liquidating Trust Assets and/or the Trust Proceeds for satisfaction of claims of any nature arising in connection with affairs of the Liquidation Liquidating Trust. Other than as set forth in the Plan or in the Confirmation Order, nothing in this Section 7.3 8.2 of this Trust Agreement shall be deemed to release any Liquidation Liquidating Trust Beneficiary from any actions or omissions occurring prior to the Effective Date; provided that nothing in this Section 7.3 shall contravene any releases granted pursuant to the Plan or the Confirmation Order.

Liability to Third Persons. No Liquidation Liquidating Trust Beneficiary shall be subject to any personal liability whatsoever, in tort, contract or otherwise, to any person in connection with the Liquidation Liquidating Trust Assets, the Trust Proceeds, Assets or the affairs of the Liquidation Trust AdministratorLiquidating Trustee. The Liquidation Liquidating Trustee, the Trust Administrator, agents of and professionals retained by the Liquidation Trust Administrator Professionals and the members of the Liquidation Trust Committee Advisory Board and the Litigation Subcommittee shall not be subject to any personal liability whatsoever, in tort, contract or otherwise, to any person (including, in the case of the Liquidating Trustee and members of the Trust Advisory Board and the Litigation Subcommittee, to any Trust Professionals retained by the Liquidating Trustee in accordance with this Trust Agreement) in connection with the Liquidation Liquidating Trust Assets, the Trust Proceeds, Assets or the affairs of the Liquidation TrustLiquidating Trust and shall not be liable with respect to any action taken or omitted to be taken in good faith, except for its own actions and omissions determined by a final order of the Bankruptcy Court to be due to their respective gross negligence, fraud or recklessintentional fraud, intentional criminal conduct or willful misconduct, and all such persons shall look solely to the Liquidation Liquidating Trust Assets and/or the Trust Proceeds for satisfaction of claims of any nature arising in connection with affairs of the Liquidation Liquidating Trust. Other than as set forth in the Plan or in the Confirmation Order, nothing in this Section 7.3 7.2 shall be deemed to release any Liquidation Liquidating Trust Beneficiary from any actions or omissions occurring prior to the Effective Date; provided that nothing in this Section 7.3 shall contravene any releases granted pursuant to the Plan or the Confirmation Order.