Common use of OTHER SOURCES OF RECOVERY Clause in Contracts

OTHER SOURCES OF RECOVERY. The Manager shall cause the Trust to use its commercially efforts to obtain the funds needed to satisfy its indemnification obligations under Section 13.2 pursuant to the insurance policies or indemnification arrangements, before causing the Trust to make payments out of the Trust Estate pursuant to Section 13.2. Notwithstanding the foregoing, nothing in this Section 13.9 shall prohibit or limit the Manager from causing the Trust to make such payments if the Manager determines in its sole discretion that the Trust is not likely to obtain sufficient funds from such other sources in a timely fashion, or that attempting to obtain such funds would be futile or not in the best interests of the Trust (for example, nothing in this Section 13.9 shall require the Manager to cause the Trust to sell any Investment before such time the Manager determines is advisable).

Appears in 4 contracts

Samples: Irrevocable Trust Agreement, Irrevocable Trust Agreement, Irrevocable Trust Agreement

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