Common use of No Further Liability Clause in Contracts

No Further Liability. Each of the Litigation Trustee and the Trust Governing Board Directors shall not be liable for any action taken or omitted in good faith and reasonably believed by it/him/her to be authorized within the discretion or rights or powers conferred upon it/him/her in accordance with this Litigation Trust Agreement. In performing its/his/her duties under this Litigation Trust Agreement, each of the Litigation Trustee and the Trust Governing Board Directors shall have no liability for any action taken by the Litigation Trustee and the Trust Governing Board Directors in good faith in accordance with the advice of counsel, accountants, appraisers and other professionals retained by the Trust Governing Board Directors or the Litigation Trust. Without limiting the generality of the foregoing, the Litigation Trustee and the Trust Governing Board Directors may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by them to be genuine, and shall have no liability for actions taken in good faith in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee or the Trust Governing Board Directors to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee and the Trust Governing Board Directors may rely without inquiry upon writings delivered to it/him/her under the Plan which it/he/she reasonably believes in good faith to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 7.1 shall relieve the Litigation Trustee or the Trust Governing Board Directors from any liability for any actions or omissions arising out of their gross negligence, willful misconduct, breach of fiduciary duty or knowing violation of law.

No Further Liability. Each The Litigation Trustee and its representatives shall have no liability for any actions or omissions in accordance with this Agreement or with respect to the Litigation Trust unless arising out of such Person’s own fraud, willful misconduct or gross negligence. Unless arising out of such Person’s own fraud, willful misconduct or gross negligence, in performing its duties under this Agreement, the Litigation Trustee and the Trust Governing Board Directors shall not be liable for any action taken or omitted in good faith and reasonably believed by it/him/her to be authorized within the discretion or rights or powers conferred upon it/him/her in accordance with this Litigation Trust Agreement. In performing its/his/her duties under this Litigation Trust Agreement, each of the Litigation Trustee and the Trust Governing Board Directors its representatives (as applicable) shall have no liability for any action taken by the Litigation Trustee and the Trust Governing Board Directors in good faith such Person in accordance with the advice of counsel, accountants, appraisers and other professionals the Litigation Trust Professionals retained by the Trust Governing Board Directors or the Litigation Trust. Without limiting the generality of the foregoing, the Litigation Trustee and the Trust Governing Board Directors its representatives may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by them such Person to be genuine, genuine and shall have no liability for actions taken in good faith in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee or the Trust Governing Board Directors its representatives to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee and the Trust Governing Board Directors its representatives may rely without inquiry upon writings delivered to it/him/her under such Person pursuant to the Plan which it/he/she or the Confirmation Order that such Person reasonably believes in good faith to be genuine and to have been given by a proper Personproperly given. Notwithstanding the foregoing, nothing in this Section 7.1 6.1 shall relieve the Litigation Trustee or the Trust Governing Board Directors its representatives from any liability for any actions or omissions arising out of their such Person’s fraud, willful misconduct or gross negligence. No termination of this Agreement or amendment, willful misconductmodification or repeal of this Section 6.1 shall adversely affect any right or protection of the Litigation Trustee or its designees, breach professional agents or representatives that exists at the time of fiduciary duty such amendment, modification or knowing violation of lawrepeal.

No Further Liability. Each of the Litigation Trustee Liquidating Trustee, the Members and the Trust Governing Board Directors their representatives shall not be liable have no liability for any action taken actions or omitted in good faith and reasonably believed by it/him/her to be authorized within the discretion or rights or powers conferred upon it/him/her omissions in accordance with this Litigation Agreement or with respect to the Liquidating Trust Agreementunless arising out of such Person’s own fraud, willful misconduct or gross negligence. In Unless arising out of such Person’s own fraud, willful misconduct or gross negligence, in performing its/his/her its duties under this Litigation Trust Agreement, each of the Litigation Trustee Liquidating Trustee, the Members and the Trust Governing Board Directors their representatives (as applicable) shall have no liability for any action taken by the Litigation Trustee and the Trust Governing Board Directors such Person in good faith faith, in the reasonable belief that such action was in the best interests of the Liquidating Trust and/or in accordance with the advice of counsel, accountants, appraisers and other professionals the Liquidating Trust Professionals retained by the Liquidating Trust Governing Board Directors Oversight Committee or the Litigation Liquidating Trust. Without limiting the generality of the foregoing, the Litigation Trustee Liquidating Trustee, the Members and the Trust Governing Board Directors their representatives may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by them such Person to be genuine, genuine and shall have no liability for actions taken in good faith in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee Liquidating Trustee, the Members or the Trust Governing Board Directors their representatives to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee Liquidating Trustee, the Members and the Trust Governing Board Directors their representatives may rely without inquiry upon writings delivered to it/him/her under such Person pursuant to the Plan which it/he/she Plan, the Confirmation Order or this Agreement (including in the execution of such Person’s duties hereunder or thereunder) that such Person reasonably believes in good faith to be genuine and to have been given by a proper Personproperly given. Notwithstanding the foregoing, nothing in this Section 7.1 8.1 shall relieve the Litigation Trustee Liquidating Trustee, the Members or the Trust Governing Board Directors their representatives from any liability for any actions or omissions arising out of their such Person’s fraud, willful misconduct or gross negligence. Any action taken or omitted to be taken in the case of the Liquidating Trustee or the Liquidating Trust Oversight Committee with the express approval of the Bankruptcy Court (so long as the Chapter 11 Cases have not been closed or dismissed) and, in the case of the Liquidating Trustee, with the express approval of the Liquidating Trust Oversight Committee will conclusively be deemed not to constitute fraud, willful misconductmisconduct or gross negligence. No termination of this Agreement or amendment, breach modification or repeal of fiduciary duty this Section 8.1 shall adversely affect any right or knowing violation protection of lawthe Liquidating Trustee, the Members of the Liquidating Trust Oversight Committee or their respective designees, professional agents or representatives that exists at the time of such amendment, modification or repeal.

No Further Liability. Each of the Litigation Trustee and the Trust Governing Board Directors Members shall not be liable have no liability for any action taken actions or omitted in good faith and reasonably believed by it/him/her to be authorized within the discretion or rights or powers conferred upon it/him/her omissions in accordance with this Litigation Trust AgreementAgreement unless arising out of such Person’s own fraud, self-dealing, intentional misrepresentation or willful misconduct. In performing its/his/her its duties under this Litigation Trust Agreement, each of the Litigation Trustee and or the Trust Governing Board Directors Member (as applicable) shall have no liability for any action taken by the Litigation Trustee and the Trust Governing Board Directors in good faith Members in accordance with the advice of counsel, accountants, appraisers and and/or other professionals retained by the Trust Governing Board Directors Members or the Litigation Trust. Without limiting the generality of the foregoing, the Litigation Trustee and the Trust Governing Board Directors Members may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by them the Litigation Trustee or the Member (as applicable) to be genuine, and shall have no liability for actions taken in good faith in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee or the Trust Governing Board Directors Members to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee and the Trust Governing Board Directors Members may rely without inquiry upon writings delivered to it/him/her it under the Plan which it/he/she the Litigation Trustee or the Member (as applicable) reasonably believes in good faith to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 7.1 shall relieve the Litigation Trustee or the Trust Governing Board Directors Members from any liability for any actions or omissions arising out of their gross negligencesuch Person’s own fraud, self-dealing, intentional misrepresentation or willful misconduct. Any action taken or omitted to be taken in the case of the Litigation Trustee or the Litigation Trust Advisory Board with the express approval of the Bankruptcy Court and, breach in the case of fiduciary duty the Litigation Trustee, with the express approval of the Litigation Trust Advisory Board will conclusively be deemed not to constitute fraud, self-dealing, intentional misrepresentation or knowing violation of lawwillful misconduct.

No Further Liability. Each of the Litigation Creditors’ Trustee and the Trust Governing Board Directors Members shall not be liable have no liability for any action taken actions or omitted in good faith and reasonably believed by it/him/her to be authorized within the discretion or rights or powers conferred upon it/him/her omissions in accordance with this Litigation Creditors’ Trust AgreementAgreement unless arising out of such Person’s own fraud, self-dealing, intentional misrepresentation or willful misconduct. In performing its/his/her its duties under this Litigation Creditors’ Trust Agreement, each of the Litigation Creditors’ Trustee and or the Trust Governing Board Directors Member (as applicable) shall have no liability for any action taken by the Litigation Creditors’ Trustee and the Trust Governing Board Directors in good faith Members in accordance with the advice of counsel, accountants, appraisers and other professionals retained by the Trust Governing Board Directors Members or the Litigation Creditors’ Trust. Without limiting the generality of the foregoing, the Litigation Creditors’ Trustee and the Trust Governing Board Directors Members may rely without independent investigation on copies of orders of the Bankruptcy Court or any other court of competent jurisdiction, as applicable, reasonably believed by them the Creditors’ Trustee or the Member (as applicable) to be genuine, and shall have no liability for actions taken in good faith in reliance thereon. None of the provisions of this Litigation Creditors’ Trust Agreement shall require the Litigation Creditors’ Trustee or the Trust Governing Board Directors Members to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Creditors’ Trustee and the Trust Governing Board Directors Members may rely without inquiry upon writings delivered to it/him/her it under the Plan which it/he/she the Creditors’ Trustee or the Member (as applicable) reasonably believes in good faith to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 7.1 shall relieve the Litigation Creditors’ Trustee or the Trust Governing Board Directors Members from any liability for any actions or omissions arising out of their gross negligencesuch Person’s own fraud, self-dealing, intentional misrepresentation or willful misconduct. Any action taken or omitted to be taken in the case of the Creditors’ Trustee or the Creditors’ Trust Advisory Board within the express approval of any Directive and, breach in the case of fiduciary duty the Creditors’ Trustee, with the express approval of the Creditors’ Trust Advisory Board will conclusively be deemed not to constitute fraud, self-dealing, intentional misrepresentation or knowing violation of lawwillful misconduct.

No Further Liability. Each of the Litigation Distribution Trustee and the Trust Governing Board Directors Members shall not be liable have no liability for any action taken actions or omitted in good faith and reasonably believed by it/him/her to be authorized within the discretion or rights or powers conferred upon it/him/her omissions in accordance with this Litigation Distribution Trust AgreementAgreement unless arising out of such Person’s own fraud, self-dealing, intentional misrepresentation or willful misconduct. In performing its/his/her its duties under this Litigation Distribution Trust Agreement, each of the Litigation Distribution Trustee and or the Trust Governing Board Directors Member (as applicable) shall have no liability for any action taken by the Litigation Distribution Trustee and the Trust Governing Board Directors in good faith Members in accordance with the advice of counsel, accountants, appraisers and and/or other professionals retained by the Trust Governing Board Directors Members or the Litigation Distribution Trust. Without limiting the generality of the foregoing, the Litigation Distribution Trustee and the Trust Governing Board Directors Members may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by them the Distribution Trustee or the Member (as applicable) to be genuine, and shall have no liability for actions taken in good faith in reliance thereon. None of the provisions of this Litigation Distribution Trust Agreement shall require the Litigation Distribution Trustee or the Trust Governing Board Directors Members to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Distribution Trustee and the Trust Governing Board Directors Members may rely without inquiry upon writings delivered to it/him/her it under the Plan which it/he/she the Distribution Trustee or the Member (as applicable) reasonably believes in good faith to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 7.1 shall relieve the Litigation Distribution Trustee or the Trust Governing Board Directors Members from any liability for any actions or omissions arising out of their gross negligencesuch Person’s own fraud, self-dealing, intentional misrepresentation or willful misconduct. Any action taken or omitted to be taken in the case of the Distribution Trustee or the Distribution Trust Advisory Board with the express approval of the Bankruptcy Court and, breach in the case of fiduciary duty the Distribution Trustee, with the express approval of the Distribution Trust Advisory Board will conclusively be deemed not to constitute fraud, self-dealing, intentional misrepresentation or knowing violation of lawwillful misconduct.

No Further Liability. (a) Each of the Litigation Trustee and the members of the Litigation Trust Governing Advisory Board Directors shall not be liable have no liability for any action taken actions or omitted in good faith and reasonably believed by it/him/her to be authorized within the discretion or rights or powers conferred upon it/him/her omissions in accordance with this Litigation Trust AgreementAgreement unless arising out of their gross negligence or willful misconduct. In performing its/his/her its duties under this Litigation Trust Agreement, each the Litigation Trustee or the members of the Litigation Trustee and the Trust Governing Advisory Board Directors (as applicable) shall have no liability for any action taken by the Litigation Trustee and the members of the Litigation Trust Governing Advisory Board Directors in good faith in accordance with the advice of counsel, accountants, appraisers and other professionals retained by the members of the Litigation Trust Governing Advisory Board Directors or the Litigation Trust. Without limiting the generality of the foregoing, the Litigation Trustee and the members of the Litigation Trust Governing Advisory Board Directors may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by them the Litigation Trustee or the members of the Litigation Trust Advisory Board (as applicable) to be genuine, and shall have no liability for actions taken in good faith in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee or the members of the Litigation Trust Governing Advisory Board Directors to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee and the members of the Litigation Trust Governing Advisory Board Directors may rely without inquiry upon writings delivered to it/him/her it under the Plan which it/he/she the Litigation Trustee or the members of the Litigation Trust Advisory Board (as applicable) reasonably believes in good faith to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 7.1 4.9 shall relieve the Litigation Trustee or the members of the Litigation Trust Governing Advisory Board Directors from any liability for any actions or omissions arising out of their gross negligence, negligence or willful misconduct. Any action taken or omitted to be taken in the case of the Litigation Trustee or the members of the Litigation Trust Advisory Board with the express approval of the Bankruptcy Court and, in the case of the Litigation Trustee, with the express approval of the members of the Litigation Trust Advisory Board will conclusively be deemed not to constitute gross negligence or willful misconduct. (b) Neither the Litigation Trustee, the members of the Litigation Trust Advisory Board nor their professionals will be liable for punitive, exemplary, consequential, special or other damages for a breach of fiduciary duty or knowing violation of lawthis Litigation Trust Agreement under any circumstances.

No Further Liability. Each of the Litigation Trustee and the Trust Governing Board Directors shall not be liable have no liability for any action taken actions or omitted in good faith and reasonably believed by it/him/her to be authorized within the discretion or rights or powers conferred upon it/him/her omissions in accordance with this Litigation Trust AgreementAgreement unless arising out of their gross negligence or willful misconduct. In performing its/his/her its duties under this Litigation Trust Agreement, each of the Litigation Trustee and or the Trust Governing Board Directors Director (as applicable) shall have no liability for any action taken by the Litigation Trustee and the Trust Governing Board Directors in good faith in accordance with the advice of counsel, accountants, appraisers and other professionals retained by the Trust Governing Board Directors or the Litigation Trust. Without limiting the generality of the foregoing, the Litigation Trustee and the Trust Governing Board Directors may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by them the Litigation Trustee or the Director (as applicable) to be genuine, and shall have no liability for actions taken in good faith in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee or the Trust Governing Board Directors to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee and the Trust Governing Board Directors may rely without inquiry upon writings delivered to it/him/her it under the Plan which it/he/she the Litigation Trustee or the Director (as applicable) reasonably believes in good faith to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 7.1 shall relieve the Litigation Trustee or the Trust Governing Board Directors from any liability for any actions or omissions arising out of their gross negligence, negligence or willful misconduct. Any action taken or omitted to be taken in the case of the Litigation Trustee or the Trust Board with the express approval of the Bankruptcy Court and, breach in the case of fiduciary duty the Litigation Trustee, with the express approval of the Trust Board will conclusively be deemed not to constitute gross negligence or knowing violation of lawwillful misconduct.

No Further Liability. Each of the Litigation Creditor Trustee and the Trust Governing Board Directors shall not be liable have no liability for any action taken actions or omitted in good faith and reasonably believed by it/him/her to be authorized within the discretion or rights or powers conferred upon it/him/her omissions in accordance with this Litigation Creditor Trust AgreementAgreement unless arising out of their gross negligence or willful misconduct. In performing its/his/, his or her (as the case may be) duties under this Litigation Creditor Trust Agreement, each of the Litigation Creditor Trustee and or the Trust Governing Board Directors Director (as applicable) shall have no liability for any action taken by the Litigation Creditor Trustee and the Trust Governing Board Directors in good faith in accordance with the advice of counsel, accountants, appraisers and other professionals retained by the Trust Governing Board Directors or the Litigation Creditor Trust. Without limiting the generality of the foregoing, the Litigation Creditor Trustee and the Trust Governing Board Directors may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by them the Creditor Trustee or the Director (as applicable) to be genuine, and shall have no liability for actions taken in good faith in reliance thereon. None of the provisions of this Litigation Creditor Trust Agreement shall require the Litigation Creditor Trustee or the Trust Governing Board Directors to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Creditor Trustee and the Trust Governing Board Directors may rely without inquiry upon writings delivered to it/him/, him or her (as the case may be) under the Plan which it/he/she the Creditor Trustee or the Director (as applicable) reasonably believes in good faith to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 7.1 shall relieve the Litigation Creditor Trustee or the Trust Governing Board Directors from any liability for any actions or omissions arising out of their gross negligence, negligence or willful misconduct. Any action taken or omitted to be taken in the case of the Creditor Trustee or the Trust Board with the express approval of the Court and, breach in the case of fiduciary duty the Creditor Trustee, with the express approval of the Trust Board will conclusively be deemed not to constitute gross negligence or knowing violation of lawwillful misconduct.

No Further Liability. (a) Each of the Litigation Trustee and the members of the Litigation Trust Governing Advisory Board Directors shall not be liable have no liability for any action taken actions or omitted in good faith and reasonably believed by it/him/her to be authorized within the discretion or rights or powers conferred upon it/him/her omissions in accordance with this Litigation Trust AgreementAgreement unless arising out of their gross negligence or willful misconduct. In performing its/his/her its duties under this Litigation Trust Agreement, each the Litigation Trustee or the members of the Litigation Trustee and the Trust Governing Advisory Board Directors (as applicable) shall have no liability for any action taken by the Litigation Trustee and the members of the Litigation Trust Governing Advisory Board Directors in good faith in accordance with the advice of counsel, accountants, appraisers and other professionals retained by the members of the Litigation Trust Governing Advisory Board Directors or the Litigation Trust. Without limiting the generality of the foregoing, the Litigation Trustee and the members of the Litigation Trust Governing Advisory Board Directors may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by them the Litigation Trustee or the members of the Litigation Trust Advisory Board (as applicable) to be genuine, and shall have no liability for actions taken in good faith in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee or the members of the Litigation Trust Governing Advisory Board Directors to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee and the members of the Litigation Trust Governing Advisory Board Directors may rely without inquiry upon writings delivered to it/him/her it under the Plan which it/he/she the Litigation Trustee or the members of the Litigation Trust Advisory Board (as applicable) reasonably believes in good faith to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 7.1 4.9 shall relieve the Litigation Trustee or the members of the Litigation Trust Governing Advisory Board Directors from any liability for any actions or omissions arising out of their gross negligence, negligence or willful misconduct. Any action taken or omitted to be taken in the case of the Litigation Trustee or the members of the Litigation Trust Advisory Board with the express approval of the Bankruptcy Court and, in the case of the Litigation Trustee, with the express approval of the members of the Litigation Trust Advisory Board will conclusively be deemed not to constitute gross negligence or willful misconduct. (b) Neither the Litigation Trustee, the members of the Litigation Trust Advisory Board nor their professionals will be liable for punitive, exemplary, consequential, special or other damages for a breach of fiduciary duty or knowing violation of lawthis Trust Agreement under any circumstances.

No Further Liability. (a) Each of the Litigation Trustee and the members of the Litigation Trust Governing Board Directors Oversight Committee shall not be liable have no liability for any action taken actions or omitted in good faith and reasonably believed by it/him/her to be authorized within the discretion or rights or powers conferred upon it/him/her omissions in accordance with this Litigation Trust AgreementAgreement unless arising out of their gross negligence or willful misconduct. In performing its/his/her its duties under this Litigation Trust Agreement, each the Litigation Trustee or the members of the Litigation Trustee and the Trust Governing Board Directors Oversight Committee (as applicable) shall have no liability for any action taken by the Litigation Trustee and the members of the Litigation Trust Governing Board Directors in good faith Oversight Committee in accordance with the advice of counsel, accountants, appraisers and other professionals retained by the members of the Litigation Trust Governing Board Directors Oversight Committee or the Litigation Trust. Without limiting the generality of the foregoing, the Litigation Trustee and the members of the Litigation Trust Governing Board Directors Oversight Committee may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by them the Litigation Trustee or the members of the Litigation Trust Oversight Committee (as applicable) to be genuine, and shall have no liability for actions taken in good faith in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee or the members of the Litigation Trust Governing Board Directors Oversight Committee to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee and the members of the Litigation Trust Governing Board Directors Oversight Committee may rely without inquiry upon writings delivered to it/him/her it under the Plan which it/he/she the Litigation Trustee or the members of the Litigation Trust Oversight Committee (as applicable) reasonably believes in good faith to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 7.1 4.9 shall relieve the Litigation Trustee or the members of the Litigation Trust Governing Board Directors Oversight Committee from any liability for any actions or omissions arising out of their gross negligence, negligence or willful misconduct. Any action taken or omitted to be taken in the case of the Litigation Trustee or the members of the Litigation Trust Oversight Committee with the express approval of the Bankruptcy Court and, in the case of the Litigation Trustee, with the express approval of the members of the Litigation Trust Oversight Committee will conclusively be deemed not to constitute gross negligence or willful misconduct. (b) Neither the Litigation Trustee, the members of the Litigation Trust Oversight Committee nor their professionals will be liable for punitive, exemplary, consequential, special or other damages for a breach of fiduciary duty or knowing violation of lawthis Litigation Trust Agreement under any circumstances.