Responsibilities of Reorganized Debtor Under the Plan Sample Clauses

Responsibilities of Reorganized Debtor Under the Plan. The Reorganized Debtor administer the Plan subject to the foregoing duties and powers, which shall include the following: a) To prosecute, compromise or settle objections to Claims and/or Interests (disputed or otherwise); b) To make decisions regarding the retention or engagement of professionals and to pay, without court order, all reasonable fees and expenses incurred after the Effective Date; c) To make or direct distributions to holders of Allowed Claims and to otherwise implement and administer the Claim Reserve Account as provided in the Plan; d) To pursue, litigate or settle the Avoidance Actions and Affirmative Claims; e) To file with the Bankruptcy Court the reports and other documents and to pay any and all fees required by the Plan or otherwise required to close the Bankruptcy Case, including the preparation and filing of a motion for a final decree, and the obligation to file post-Confirmation quarterly reports in the format prescribed by the United States Trustee; f) To set off amounts owed to the Debtor against any and all amounts otherwise due to be distributed to the holder of an Allowed Claim under the Plan; and g) To take all other actions not inconsistent with the provisions of the Plan deemed necessary or desirable in connection with administering the Plan. The Disbursement Agent shall not be responsible for the matters in paragraph VI.B.7 above. All proposed settlements of Disputed Claims where the amount to be settled or compromised exceeds $25,000 shall be subject to the approval of the Bankruptcy Court after notice and an opportunity for a hearing. Notice of such a hearing shall be served on the Disbursement Agent, the Office of the United States Trustee, and any party requesting notice following the Effective Date.