Common use of Winding Up and Discharge of the Trustee Clause in Contracts

Winding Up and Discharge of the Trustee. For the purposes of winding up the affairs of the Trust at the conclusion of its term, the Trustee shall continue to act as Trustee until its duties under this Trust Agreement have been fully discharged or its role as Trustee is otherwise terminated under this Trust Agreement and the Plan. Upon a motion by the Trustee, the Bankruptcy Court may enter an order relieving the Trustee, its agents and employees of any further duties, discharging the Trustee and releasing its bond, if any.

Winding Up and Discharge of the Trustee. For the purposes of winding up the affairs of the Litigation Trust at the conclusion of its term, the Trustee shall continue to act as Trustee until its duties under this Trust Agreement have been fully discharged or its role as Trustee is otherwise terminated under this Trust Agreement and the Plan. Upon a motion by the Trustee, the Bankruptcy Court may enter an order relieving the Trustee, its agents agents, and employees of any further duties, discharging the Trustee [and releasing its bond, if any].

Winding Up and Discharge of the Trustee. For the purposes of winding up the affairs of the Trust at the conclusion of its termtermination, the Trustee shall continue to act as Trustee until its her duties under have been fully discharged. After doing so, the Trustee and any Trust Professionals, including her agents, professionals and employees, shall have no further duties or obligations hereunder, except as required by this Trust Agreement have been fully discharged or its role as Trustee is otherwise terminated under this Trust Agreement and applicable law concerning the Plan. Upon termination of a motion by the Trustee, the Bankruptcy Court may enter an order relieving the Trustee, its agents and employees of any further duties, discharging the Trustee and releasing its bond, if anytrust.

Winding Up and Discharge of the Trustee. For the purposes of winding up the affairs of the Litigation Trust at the conclusion of its term, the Trustee shall continue to act as Trustee until its duties under this Trust Agreement have been fully discharged or its role as Trustee is otherwise terminated under this Trust Agreement and the Plan. Upon a motion by the Trustee, the Bankruptcy Court may enter an order relieving the Trustee, its agents agents, and employees of any further duties, discharging the Trustee and releasing its bond, if any.