Common use of Trust Powers Clause in Contracts

Trust Powers. (a) Pursuant to the Confirmation Order and subject to the limitations set forth in this Trust Agreement and the provisions of the Trustee Plan Documents, the Trustee shall have all powers authorized by law to take any and all actions as directed in a Trustee Direction that are necessary or advisable to effectuate the purposes of the Trust, including, without limitation, each power expressly granted in this Section 5.05 as follows and any powers reasonably incidental thereto: (i) to receive cash and other additions to the Trust from any source and to hold, administer, and distribute such additions as part of the Trust; (ii) to invest and reinvest the funds of the Trust as provided in this Trust Agreement in accordance with a Trustee Direction; (iii) to rely upon any affidavit, certificate, letter, notice, telegram, or other paper, or upon any telephone conversation or other oral communication reasonably believed by the Trustee to be genuine and sufficient and upon any other evidence reasonably believed by the Trustee to be genuine; (iv) pursuant to a Trustee Direction, to institute any action or proceeding at law or in equity in the District Court for the collection of the sums due the Trust, or otherwise to advance the interests of the Trust in a manner not inconsistent with the terms of the Plan, prosecute any such action or proceeding to judgment or final decree, enforce any such judgment or final decree, and collect in any manner provided by law the monies adjudged or decreed to be payable, provided that, regardless of any deficiency in the Trust or any other reason, the Trust may not institute or join any action or proceeding at law or in equity against any Released Parties concerning any right or claim that has been released under the terms of the Plan and/or prosecute any such action or proceeding for judgment or final decree or collect in the manner provided by law the monies adjudged or decreed to be payable; and (v) to do all other acts and things not inconsistent with the provisions of the Trustee Plan Documents, the Litigation Facility Agreement, and the Plan, that the Finance Committee may direct in a Trustee Direction as reasonably necessary to perform the express duties, functions and obligations of the Trustee specified herein, in the same manner and to the same extent as individuals might or could do with respect to their own property, subject to the limitations of applicable law governing the conduct of fiduciaries. (b) After the Effective Date the Trustee shall act only upon receipt of and in accordance with a Trustee Direction.

Trust Powers. (a) Pursuant to the Confirmation Order and Order, subject to the limitations set forth in this Trust Agreement Agreement, and subject to the provisions and limitations of the Trustee Plan Documentsand Article VI hereof, including the Claims Resolution Facility Procedures and Provider Claims Resolution Facility Procedures, the Tort Trustee shall have all powers authorized by law the power to take any and all actions as directed as, in a Trustee Direction that the judgment and discretion of the Tort Trustee, are necessary or advisable to effectuate the purposes of the Tort Trust, including, without limitation, each power expressly granted in Section 7.03(b) of this Section 5.05 as follows Agreement and any powers power reasonably incidental thereto. (b) Without limiting the generality of Section 7.03(a) of this Agreement, and subject to the other provisions of this Agreement, the Tort Trustee shall have the power: (i) to receive cash and other additions to the Tort Trust assets from any source source, provided such additions are made pursuant to the Plan, Confirmation Order or another order of the Bankruptcy Court, and to hold, administer, and distribute such additions as a part of the TrustTort Trust assets; (ii) to invest and reinvest the funds of the Tort Trust as provided in this Trust Agreement in accordance with a Trustee DirectionAgreement; (iii) to rely upon any affidavit, certificate, letter, notice, telegram, or other paper, or upon any telephone conversation or other oral communication reasonably communication, believed by the Tort Trustee to be genuine and sufficient and upon any other evidence reasonably believed by the Tort Trustee to be genuinegenuine and sufficient, and to be protected and saved harmless in respect of all payments or distributions made hereunder if made in good faith and without actual notice or knowledge of the changed condition or status of any person receiving payments or other distributions upon a condition; (iv) to indemnify the Indemnified Persons, the Additional Indemnitees, and employees and agents of the Tort Trust, in accordance with Sections 3.07(a) and 3.08 hereof, to purchase insurance to effect such indemnification of the Estate Administrator, in accordance with such Sections 3.07(b) and 3.08 hereof, and to meet the obligations of the Tort Trust under Article V hereof and the Claims Resolution Facility Procedures and Provider Claims Resolution Facility Procedures; (v) to appoint such officers, hire such employees, and engage such legal, financial and other advisors and agents as are deemed necessary by the Tort Trustee for the proper administration of the Tort Trust and the Claims Resolution Facility and Provider Claims Resolution Facilities (subject in all respects to the provisions and limitations of the Claims Resolution Facility Procedures and Provider Claims Resolution Facility Procedures), and to compensate such officers, employees, advisers and agents for their services from the National Fund; provided, however, that all costs of, attributable to, arising from or related to any Provider Claims Resolution Facility, including, without limitation, the cost of any Provider Settlement Administrator(s) employed or utilized under and for said Provider Claims Resolution Facility, shall be paid solely from the Provider Fund pertaining to said Provider Claims Resolution Facility; (vi) to enter into such other arrangements with third parties as are deemed by the Tort Trustee to be useful in carrying out the purposes of the Tort Trust (including, without limitation, engaging a financial institution and/or advisor to act as paying agent, depository, custodian or trustee with respect to funds, reserves or accounts created hereby or established pursuant hereto), and to a Trustee Direction, compensate such third parties for their services; (vii) to institute any action or proceeding at law or in equity in the District Court for the collection of the sums due the Tort Trust, or otherwise to advance the interests of the Tort Trust in a manner not inconsistent with the terms of the PlanPlan or Confirmation Order, prosecute any such action or proceeding to judgment or final decree, enforce any such judgment or final decree, and collect in any manner provided by the law the monies adjudged or decreed to be payable; provided, provided however, that, regardless of any deficiency in the Tort Trust or any other reason, the Tort Trust may not institute or join any action or proceeding at law or in equity against the Debtor or against any Released Parties concerning any right or claim that has been other Person deemed to be released under pursuant to the terms of Section 10.05 of the Plan and/or Plan, for the collection of any sums, other than as expressly provided for in the Plan, in respect of the Tort Claims, prosecute any such action or proceeding for to judgment or final decree decree, or collect in the manner provided by law the monies adjudged or decreed to be payable; (viii) to assist with the administration of and effectuate the Claims Resolution Facility and Provider Claims Resolution Facilities; (ix) to report to the District Court and the Bankruptcy Court as described in 7.05 hereof; (x) upon request of the Estate Representative, to transfer monies to the Estate Representative for payment of Claims and expenses as provided for in the Plan, provided such transfers are not paid from the Provider Fund or from any other assets of a Qualified Settlement Fund; for the avoidance of doubt, the Tort Trustee shall transfer such monies upon request of the Estate Representative; and (vxi) to do all other acts and things not inconsistent with the provisions of the Trustee Plan Documents, the Litigation Facility this Agreement, and the Plan, that the Finance Committee Confirmation Order, the Claims Resolution Facility Procedures or the Provider Claims Resolution Facility Procedures which the Tort Trustee may direct in a Trustee Direction as deem reasonably necessary to perform or desirable for the express duties, functions and obligations proper management of the Trustee specified hereinTort Trust, in the same manner and to the same extent as individuals an individual might or could do with respect to their his own property, subject to the limitations of applicable law governing the conduct of fiduciaries. (b) After the Effective Date the Trustee shall act only upon receipt of and in accordance with a Trustee Direction.