Common use of Transfer of Assets and Rights to the Litigation Trust Clause in Contracts

Transfer of Assets and Rights to the Litigation Trust. (a) As of the Effective Date, and pursuant to and subject in all respects to the terms of the Confirmation Order in accordance with section 1141 of the Bankruptcy Code, the Debtors, in their respective capacities as debtors in possession on behalf of the Estates, have transferred, assigned, and delivered to the Litigation Trust, without recourse, all of their respective rights, title, and interests in and to the Preserved Causes of Action free and clear of Claims and Interests (other than Claims in the nature of setoff or recoupment), encumbrances or interests of any kind in such property of any other Person (including all Liens, Claims, encumbrances or interests of any creditors that were subordinated for purposes of distributions under the Plan). (b) On the Effective Date, the Parties shall enter into the LT Confidentiality and Common Interest Agreement providing for reasonable access to, at the Litigation Trust’s own expense, copies of the Debtors’ and Reorganized Debtors’ records and information relating to the Litigation Trust Assets including, without limitation, electronic records or documents. (c) All of the proceeds received by the Litigation Trust from the pursuit of any Preserved Causes of Action (collectively, the “Litigation Trust Proceeds”) shall be added to the Litigation Trust Assets and held as a part thereof (and title thereto shall be vested in the Litigation Trust). (d) At any time and from time to time on and after the Effective Date, the Reorganized Debtors agree (i) at the reasonable request of the Litigation Trustee to execute and/or deliver any instruments, documents, books, and records (including those maintained in electronic format and original documents as may be needed), and (ii) to take, or cause to be taken, all such further actions as the Litigation Trustee may reasonably request, in each case in order to evidence or effectuate the transfer of the Preserved Causes of Action to the Litigation Trust.

Transfer of Assets and Rights to the Litigation Trust. (a) As of the Effective Date, and pursuant to and subject in all respects to the terms of the Confirmation Order in accordance with section 1141 of the Bankruptcy Code, the Debtors, in their respective capacities as debtors in debtors-in-possession on behalf of the Estates, have irrevocably transferred, assigned, and delivered to the Litigation Trust, without recourse, all of their respective rights, title, and interests in and to the Preserved Causes of Action Litigation Claims free and clear of Claims and Interests (other than Claims in the nature of setoff or recoupment), encumbrances or interests of any kind in such property of any other Person (including all Liens, Claims, encumbrances or interests of any creditors that were subordinated for purposes of distributions under the Plan)Person. (b) On The Reorganized Debtors and the Effective Date, the Parties Litigation Trustee shall enter into the LT a Confidentiality and Common Interest Agreement providing for reasonable access to, at the Litigation Trust’s 's own expense, copies of the Debtors’ ' and Reorganized Debtors’ ' records and information relating to the Litigation Trust Assets Assets, including, without limitationbut not limited to, electronic records or documents. (c) All of the proceeds received by the Litigation Trust from the pursuit of any Preserved Causes of Action the Litigation Claims (collectively, the “"Litigation Trust Proceeds”") shall be added to the Litigation Trust Assets and held as a part thereof (and title thereto shall be vested in the Litigation Trust). (d) At any time and from time to time on and after the Effective Date, the Reorganized Debtors agree (i) at the reasonable request of the Litigation Trustee to execute and/or deliver any instruments, documents, books, and records (including those maintained in electronic format and original documents as may be needed), and (ii) to take, or cause to be taken, all such further actions as the Litigation Trustee may reasonably request, in each case in order to evidence or effectuate the transfer of the Preserved Causes of Action Litigation Claims to the Litigation Trust.

Transfer of Assets and Rights to the Litigation Trust. (a) As of the Effective Date, and pursuant to and subject in all respects to the terms of the Confirmation Order in accordance with section 1141 of the Bankruptcy Code, the Debtors, in their respective capacities as debtors in debtors-in-possession on behalf of the Estates, have transferred, assigned, and delivered to the Litigation Trust, without recourse, all of their respective rights, title, and interests in and to the Preserved Causes of Action free and clear of Claims and Interests (other than Claims in the nature of setoff or recoupment), encumbrances or interests of any kind in such property of any other Person (including all Liens, Claims, encumbrances or interests of any creditors that were subordinated for purposes of distributions under the Plan). (b) On the Effective Date, the Parties shall enter into the LT Confidentiality and Common Interest Agreement providing for reasonable access to, at the Litigation Trust’s own expense, copies of the Debtors’ and Reorganized Debtors’ records and information relating to the Litigation Trust Assets includingAssets, without limitation, including electronic records or documents. (c) All of the proceeds received by the Litigation Trust from the pursuit of any Preserved Causes of Action (collectively, the “Litigation Trust Proceeds”) shall be added to the Litigation Trust Assets and held as a part thereof (and title thereto shall be vested in the Litigation Trust). (d) At any time and from time to time on and after the Effective Date, the Reorganized Debtors agree (i) at the reasonable request of the Litigation Trustee to execute and/or deliver any instruments, documents, books, and records (including those maintained in electronic format and original documents as may be needed), and (ii) to take, or cause to be taken, all such further actions as the Litigation Trustee may reasonably request, in each case in order to evidence or effectuate the transfer of the Preserved Causes of Action to the Litigation Trust.

Transfer of Assets and Rights to the Litigation Trust. (a) As of the Effective Date, and pursuant to and subject in all respects to the terms of the Confirmation Order in accordance with section 1141 of the Bankruptcy Code, the Debtors, in their respective capacities as debtors in possession on behalf of the Estates, have transferred, assigned, and delivered to the Litigation Trust, without recourse, all of their respective rights, title, and interests in and to the Preserved Causes of Action (other than the Disclaimed State Law Avoidance Claims) free and clear of Claims and Interests (other than Claims in the nature of setoff or recoupment), encumbrances or interests of any kind in such property of any other Person or entity (including all Liens, Claims, encumbrances or interests of any creditors that were subordinated for purposes of distributions under the Plan). (b) On the Effective Date, the Parties shall enter into the LT Confidentiality and Common Interest Agreement providing for reasonable access to, at the Litigation Trust’s own expense, copies of the Debtors’ and Reorganized Debtors’ records and information relating to the Litigation Trust Assets including, without limitation, electronic records or documents. (c) All of the proceeds received by the Litigation Trust from the pursuit of any Preserved Causes of Action (other than the Disclaimed State Law Avoidance Claims) (collectively, the “Litigation Trust Proceeds”) shall be added to the Litigation Trust Assets and held as a part thereof (and which title thereto shall be vested in the Litigation Trust). (d) At any time and from time to time on and after the Effective Date, the Reorganized Debtors agree (i) at the reasonable request of the Litigation Trustee to execute and/or deliver any instruments, documents, books, and records (including those maintained in electronic format and original documents as may be needed), and (ii) to take, or cause to be taken, all such further actions as the Litigation Trustee may reasonably request, in each case in order to evidence or effectuate the transfer of the Preserved Causes of Action (other than the Disclaimed State Law Avoidance Claims) to the Litigation Trust.