Examples of GUC Oversight Representative in a sentence
Once the Reorganized Debtors have completed distributions to holders of Allowed Class 4 Claims pursuant to Article III.B herein, (a) the GUC Oversight Representative shall dissolve and be released and discharged from all rights and duties arising from, or related to, the Chapter 11 Cases and (b) any remaining funds in the GUC Oversight Expense Reserve Account shall automatically vest in the Reorganized Debtors.
The Plan Administrator shall consult with (x) the Lenders with regard to the settlement of any Claims and(y) the GUC Oversight Representative with regard to the settlement of any General Unsecured Claims.
For the avoidance of doubt, notwithstanding anything to the contrary contained herein, the Plan Administrator and the GUC Oversight Representative, each in their capacity as such, shall have no liability whatsoever to any party for the liabilities and/or obligations, however created, whether direct or indirect, in tort, contract, or otherwise, of the Debtors.
The GUC Oversight Representative and its representatives, each in their capacity as such, shall be deemed exculpated and indemnified, except for fraud, willful misconduct, or gross negligence, in all respects by the Reorganized Debtors.
The Plan Administrator, all professionals retained by the Plan Administrator, the GUC Oversight Representative, and representatives of each of the foregoing, each in their capacities as such, shall be deemed exculpated and indemnified, except for fraud, willful misconduct, or gross negligence, in all respects by the Post- Effective Date Debtor.
All costs, expenses and obligations incurred by the GUC Oversight Representative shall be paid by the Plan Administrator from the Plan Administrator Expense Reserve, provided such costs, expenses and obligations shall not exceed$50,000.
For the avoidance of doubt, notwithstanding anything to the contrary contained herein, the GUC Oversight Representative, in its capacity as such, shall have no liability whatsoever to any party for the liabilities and/or obligations, however created, whether direct or indirect, in tort, contract, or otherwise, of the Debtors.
All costs, expenses, and obligations incurred by the GUC Oversight Representative in connection with the administration of the General Unsecured Claims under the Plan shall be paid by the Reorganized Debtors from the GUC Oversight Expense Reserve; provided that such costs, expenses, and obligations shall not exceed $50,000.
The Plan Administrator shall provide the GUC Oversight Representative with an update each month regarding all settlements and payments on account of General Unsecured Claims.