Retention of Litigation Counsel and Other Professionals. The Litigation Trustee may, subject to the direction of the Trust Board, but without necessity for review or approval by the Bankruptcy Court or any other Person (a) retain such independent experts and advisors (including, but not limited to, counsel, tax advisors, consultants, or other professionals) as the Litigation Trustee deems necessary to aid it in the performance of its duties and responsibilities hereunder and under the Plan and to perform such other functions as may be appropriate in furtherance of the intent and purpose of this Litigation Trust Agreement, and (b) commit the Litigation Trust to provide such professional persons or entities reasonable compensation and reimbursement from the Litigation Trust Assets for services rendered and expenses incurred. The Litigation Trust may select any of the foregoing professionals in its sole discretion, and such professionals’ affiliation with the Litigation Trustee or any Director, prior employment in any capacity in the Debtors’ bankruptcy cases on behalf of the Debtors, their estates, the Creditors’ Committee, any creditors or concurrent representation of the Creditor Trust or the Creditor Representative shall not preclude the Litigation Trust’s retention of such professionals; provided that the Litigation Trustee may not employ any law firm or professional that has represented the Debtors in connection with the Chapter 11 Cases without the express written consent of the Reorganized Debtors, which consent shall not be unreasonably withheld or delayed; provided, further that nothing herein shall be construed as providing a release of, or requiring that the Reorganized Debtors release, any ethical obligation owed by such law firms or professionals to the Reorganized Debtors. The Litigation Trustee, subject to the direction of the Trust Board, will make all reasonable and customary arrangements for payment or reimbursement of such compensation and expenses.
Retention of Litigation Counsel and Other Professionals. The Litigation Trustee may, in consultation with the Oversight Committee and without necessity for review or approval by the Bankruptcy Court or any other Person, (a) retain such independent experts and advisors (including, but not limited to, counsel, tax advisors, consultants, or other professionals) as the Litigation Trustee deems necessary to aid it in the performance of its duties and responsibilities hereunder and under the Plan and to perform such other functions as may be appropriate in furtherance of the intent and purpose of this Agreement, and (b) commit the Litigation Trust to provide such professional persons or entities reasonable compensation and reimbursement from the Litigation Trust Assets for services rendered and expenses incurred. The Litigation Trust may select any of the foregoing professionals in consultation with the Oversight Committee, [, and such professionals’ affiliation with the Litigation Trustee or prior employment in any capacity in the Bankruptcy Cases on behalf of the Debtors or the members of the Oversight Committee shall not preclude the Litigation Trust’s retention of such professionals.]. The Litigation Trustee will make all reasonable and customary arrangements for payment or reimbursement of such compensation and expenses.
Retention of Litigation Counsel and Other Professionals. (a) The Trustees may retain such independent experts and advisors (including, but not limited to, the Litigation Counsel, tax advisors, consultants, or other professionals) as the Trustees deem necessary to aid in the performance of the duties and responsibilities of the Trustees hereunder and to perform such other functions as may be appropriate in furtherance of the intent and purpose of this Trust Agreement.
