Common use of Qualifications of Claims Administrator Clause in Contracts

Qualifications of Claims Administrator. The Claims Administrator (or successor Claims Administrator) shall be (i) an individual over the age of 35 whose experience and background are appropriate for the responsibilities hereunder, and (ii) at the time of appointment and at all times during the term of service, independent. The Claimants’ Advisory Committee and the Debtor’s Representatives may agree to waive certain qualification requirements. For purposes of this Settlement Facility Agreement, a person is not independent if such person: (i) is or was at any time a holder or a representative of a holder of any Claim against the Debtor or any other Released Party; (ii) has or had a relationship with the holder of any Claim against the Debtor or any Released Party such that the person’s impartiality in serving as a Claims Administrator could reasonably be questioned; (iii) is a holder of any equity interest (other than interests held indirectly through publicly-traded mutual funds) in the Debtor or any other Released Party; (iv) is or was at any time an officer, director, employee or agent of the Debtor or any other Released Party or related to any of the foregoing, or otherwise is or was an “insider,” as defined in the Bankruptcy Code, with respect to the Debtor or any other Released Party; (v) is an investment banker, financial advisor, accountant or attorney or related to any of the foregoing, for the Debtor or any other Released Party, or an officer, (vi) represents as an attorney, agent or otherwise (or at any time since January 1, 1990, has represented as an attorney, agent or otherwise) any interest whatsoever adverse to the interests of the Debtor or any other Released Party, of the holders of a class of any Claims against the Debtor or any other Released Party, or of the holders of any equity interests in the Debtor or any other Released Party; (vii) is or was at any time a stockholder, officer, director, employee, consultant or agent of the holder of any Claim against the Debtor or any other Released Party; or (viii) is or was at any time since January 1, 1990, an investment banker, financial advisor, accountant or attorney for the holder of any Claim against the Debtor or any other Released Party, or an officer, director, employee or agent of any person or entity that provides or provided investment banking, financial advice, accounting or legal services to the holder of any Claim against the Debtor or any other Released Party.

Qualifications of Claims Administrator. The Claims Administrator (or successor Claims Administrator) shall be (i) an individual over the age of 35 whose experience and background are appropriate for the responsibilities hereunder, and (ii) at the time of appointment and at all times during the term of service, independent. The Claimants’ Advisory Committee and the Debtor’s Representatives may agree to waive certain qualification requirements. For purposes of this Settlement Facility Agreement, a person is not independent if such person: (i) is or was at any time a holder or a representative of a holder of any Claim against the Debtor or any other Released Party; (ii) has or had a relationship with the holder of any Claim against the Debtor or any Released Party such that the person’s impartiality in serving as a Claims Administrator could reasonably be questioned; (iii) is a holder of any equity interest (other than interests held indirectly through publicly-publicly- traded mutual funds) in the Debtor or any other Released Party; (iv) is or was at any time an officer, director, employee or agent of the Debtor or any other Released Party or related to any of the foregoing, or otherwise is or was an “insider,” as defined in the Bankruptcy Code, with respect to the Debtor or any other Released Party; (v) is an investment banker, financial advisor, accountant or attorney or related to any of the foregoing, for the Debtor or any other Released Party, or an officer,, director, employee or agent of any person or entity that provides (or at any time since January 1, 1990, has provided) investment banking, financial advice, accounting or legal services to the Debtor or any other Released Party or related to any of the foregoing; (vi) represents as an attorney, agent or otherwise (or at any time since January 1, 1990, has represented as an attorney, agent or otherwise) any interest whatsoever adverse to the interests of the Debtor or any other Released Party, of the holders of a class of any Claims against the Debtor or any other Released Party, or of the holders of any equity interests in the Debtor or any other Released Party; (vii) is or was at any time a stockholder, officer, director, employee, consultant or agent of the holder of any Claim against the Debtor or any other Released Party; or (viii) is or was at any time since January 1, 1990, an investment banker, financial advisor, accountant or attorney for the holder of any Claim against the Debtor or any other Released Party, or an officer, director, employee or agent of any person or entity that provides or provided investment banking, financial advice, accounting or legal services to the holder of any Claim against the Debtor or any other Released Party.