Transfer of Litigation Trust Assets Sample Clauses

Transfer of Litigation Trust Assets. Pursuant to the Plan, as of the Effective Date:
Sample 1
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Transfer of Litigation Trust Assets. 2.3.1 Pursuant to the MRC/Marathon Plan, which is incorporated by reference herein, the Grantor hereby grants, releases, assigns, conveys, transfers and delivers, on behalf of the Beneficiaries, the Litigation Trust Assets to the Litigation Trustee as of the Effective Date, in trust for the benefit of the Beneficiaries for the uses and purposes as specified in this Agreement and the MRC/Marathon Plan. The Grantor shall have no further obligations with respect to the Allowed Claims in Classes 7, 8 and 9 under the MRC/Marathon Plan upon the transfer of the Litigation Trust Assets to the Litigation Trustee in accordance with this Agreement and the MRC/Marathon Plan. The Grantor shall from time to time as and when reasonably requested by the Litigation Trustee execute and deliver or cause to be executed and delivered all such documents (in recordable form where necessary or appropriate) and the Grantor shall take or cause to be taken such further action as the Litigation Trustee may reasonably deem necessary or appropriate, to vest or perfect in or confirm to the Litigation Trustee Title to and possession of the Litigation Trust Assets.
Sample 1
Transfer of Litigation Trust Assets. In accordance with the provisions of the Plan, on the Effective Date the Debtors and the Creditors’ Committee hereby irrevocably and absolutely transfer, assign, convey and deliver and are deemed to have irrevocably and absolutely transferred, assigned, conveyed and delivered to the Litigation Trust all of their respective rights, title and interest (whether legal, beneficial or otherwise) in and to all of the Litigation Trust Assets, and in accordance with section 1141 of the Bankruptcy Code, including, without limitation any and all Litigation Trust Assets transferred to the Committee pursuant to the DIP Order or transferred by the Creditors’ Committee to one or more designees consistent with the terms of the Plan, all of which assets are, and are hereby deemed, transferred to the Litigation Trust effective as of the date hereof, and in each case all of the foregoing in which case such transferred assets shall automatically vest solely in the Litigation Trust free and clear of all Claims, Liens, encumbrances or interests, subject only to the Plan, including (a) the Litigation Trust Interests, (b) the rights, if any, of the Debtors and the Reorganized Debtors (as applicable) to the Litigation Trust Distributable Proceeds as set forth in Article IV.R.12 and Article IV.R.14 of the Plan and (c) the expenses of the Litigation Trust as provided for in this Agreement.
Sample 1
Transfer of Litigation Trust Assets 
Sample 1

Related to Transfer of Litigation Trust Assets

  • Transfer of Results 8.2.1 Each Party may transfer ownership of its own Results following the procedures of the Grant Agreement Article 30.

  • Transfer of Rights This Agreement shall be binding on any successors of the parties. Neither party shall have the right to assign its interests in this Agreement to any other party, unless the prior written consent of the other party is obtained.

  • Transfer of Agreement Without prior written consent of the WFOE, the Existing Shareholders or the Domestic Company may not assign its rights and obligations hereunder to any third party.

  • VACANCIES AND TRANSFERS A vacancy shall be defined, for purposes of this Agreement, as a position previously held by a bargaining unit member that needs to be filled, or a newly created PSS position. When all necessary parties agree, vacancies can be filled by organizational advancement or transfer from within the hiring department and shall not require posting. All vacancies will be posted for a minimum of seven (7) working days unless filled by transfer, reassignment, or recall of a laid off staff member. Notice of vacancies will be given to the Alliance President and Chief Alliance Xxxxxxx at the time they are posted on the University's electronic Notices GVSU Business board, and will be simultaneously posted at the University’s electronic employment website. A vacancy will not be filled until after the posting period has expired. Job postings shall include the classification, department, location(s), work schedule and the position description. The search committee will include a PSS member. Typically, vacancies will be posted as an open search available for both internal and external applicants. A job posting limited to internal applicants may occur upon approval. In each instance, all qualified internal applicants will receive an interview. The search committee must present strong justification for not selecting an internal applicant who meets the minimum qualifications of the position. When two applicants are equally qualified for the vacant position, based on current position description and satisfactory work and attendance, the more senior qualified staff member will receive the assignment. At the time of job offer, the University shall notify the selected staff member of any known or impending changes in the position. The Human Resources Office, or their designee, will provide internal applicants not selected for the position with rationale for the decision. Candidates who were interviewed but not selected may contact Human Resources to schedule a meeting with the Search Committee Chairperson, a Human Resource representative, and an Alliance Representative to discuss the reason for non-selection. The Alliance must notify the employer within three (3) working days that the meeting has been the step 1 meeting of the grievance process. If a meeting is requested or a grievance is filed, the position cannot be filled until this process is completed. An internal staff member selected for the position will be required to establish that they can do the job within eight (8) working days. Failure to qualify shall result in returning the selected staff member to their former position and is not subject to the grievance procedure. The staff member shall also have the option to elect to return to their former position within eight (8) working days. When making departmental changes, transfer shall be with the consent of the staff member whenever possible but when there is no reasonable alternative, it may be involuntary. When involuntary transfer is required, the least senior qualified staff member shall be transferred to a similar position (e.g., classification, full or part-time) or be given the option of electing an unpaid leave of absence with eligibility only for the next vacancy in their classification, if qualified. That person shall be disqualified from consideration when the position from which they were transferred is posted. Nothing contained in this Section is intended to prevent the University from making necessary changes in positions, eliminating positions or creating new positions.

  • Transition of Registry upon Termination of Agreement text for intergovernmental organizations or governmental entities or other special circumstances: “Transition of Registry upon Termination of Agreement. Upon expiration of the Term pursuant to Section 4.1 or Section 4.2 or any termination of this Agreement pursuant to Section 4.3 or Section 4.4, in connection with ICANN’s designation of a successor registry operator for the TLD, Registry Operator and ICANN agree to consult each other and work cooperatively to facilitate and implement the transition of the TLD in accordance with this Section 4.5. After consultation with Registry Operator, ICANN shall determine whether or not to transition operation of the TLD to a successor registry operator in its sole discretion and in conformance with the Registry Transition Process. In the event ICANN determines to transition operation of the TLD to a successor registry operator, upon Registry Operator’s consent (which shall not be unreasonably withheld, conditioned or delayed), Registry Operator shall provide ICANN or such successor registry operator for the TLD with any data regarding operations of the TLD necessary to maintain operations and registry functions that may be reasonably requested by ICANN or such successor registry operator in addition to data escrowed in accordance with Section 2.3 hereof. In the event that Registry Operator does not consent to provide such data, any registry data related to the TLD shall be returned to Registry Operator, unless otherwise agreed upon by the parties. Registry Operator agrees that ICANN may make any changes it deems necessary to the IANA database for DNS and WHOIS records with respect to the TLD in the event of a transition of the TLD pursuant to this Section 4.5. In addition, ICANN or its designee shall retain and may enforce its rights under the Continued Operations Instrument, regardless of the reason for termination or expiration of this Agreement.”]

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