Common use of Purpose of the Litigation Trust Clause in Contracts

Purpose of the Litigation Trust. The Litigation Trust is established for the sole purpose of prosecuting the Anadarko Litigation and liquidating and distributing the Trust Property, in accordance with the QSF Regulations, with no objective to continue or engage in the conduct of a trade or business. The Trustee shall, in an expeditious but orderly and reasonable manner, distribute the Trust Property, and not unduly prolong the duration of the Litigation Trust, subject to Section 4(c), below. The distribution of the Trust Property shall be accomplished by transferring such assets to the holders of Litigation Trust Interests, in the manner and in the proportions set forth herein. The Trustee shall prosecute or resolve the Anadarko Litigation with the goal of ensuring that any resolution or recovery will include cash, cash equivalents, promissory note(s) and/or marketable securities in an amount sufficient to make distributions of cash, cash equivalents, promissory note(s) and/or marketable securities to all Beneficiaries that would prefer to receive distributions in cash, cash equivalents, promissory note(s) and/or marketable securities rather than in another form of consideration, to the extent that such Beneficiaries timely advise the Trustee of such preferences.