Liquidating Trust Advisory Board definition

Liquidating Trust Advisory Board means the board comprised no less than three (3) and no more than seven (7) members each of whom will be appointed by the Committee in accordance with the Liquidating Trust Agreement, vested with the powers and responsibilities set forth therein.

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Liquidating Trust Advisory Board means those individuals appointed in accordance with the Liquidating Trust Agreement with the powers and responsibilities set forth in the Liquidating Trust Agreement.

Liquidating Trust Advisory Board means the board comprised of no less than three (3) and no more than seven (7) members, each of whom will initially be appointed by the Committee and thereafter by the members of the Liquidating Trust Advisory Board in accordance with this Agreement, vested with the powers and responsibilities set forth herein.

Examples of Liquidating Trust Advisory Board in a sentence

The Liquidating Trustee shall pay those invoices within ten (10) days after receipt, without Bankruptcy Court approval, unless the Liquidating Trustee or the Liquidating Trust Advisory Board objects.
Such removal shall become effective on the date specified in such action by the Liquidating Trust Advisory Board.
If a Liquidating Trust Advisory Board member or its representative does not recuse itself from any such matter, that Liquidating Trust Advisory Board member and its representative may be recused from such matter by the unanimous vote of the remaining members of the Liquidating Trust Advisory Board that are not recused or are required to be recused from the matter.
Without limiting the generality of the foregoing, in no event shall the number of members of the Liquidating Trust Advisory Board at any time be decreased to a number less than the number of members in office at such time.
The initial members of the Liquidating Trust Advisory Board shall be designated in the Plan Supplement.
The Liquidating Trustee may be removed, with or without cause, by the unanimous vote (at a meeting or by written consent) of the members of the Liquidating Trust Advisory Board.
For the avoidance of doubt, such representatives shall only be recognized for so long as the member of the Liquidating Trust Advisory Board who made such designation continues to be a member of the Liquidating Trust Advisory Board.
Neither the Liquidating Trustee, the Liquidating Trust Advisory Board nor the Liquidating Trust Protected Parties shall take any action to facilitate or encourage trading in the beneficial interests in the Liquidating Trust or in any instrument tied to the beneficial interests (or the value thereof).
If there are any residual Unclaimed Distributions or De Minimis Distributions (as defined in Article 6.17 below) at the time of the dissolution of the Liquidating Trust, such residual Unclaimed Distributions and De Minimis Distributions shall be donated to a charitable organization as selected by the Liquidating Trustee with the approval of the Liquidating Trust Advisory Board, free of any restrictions thereon and notwithstanding any federal or state escheat laws to the contrary.
The Liquidating Trust Expense Reserve shall not be subject to charge for claims against the Liquidating Trust, the Liquidating Trustee, the Liquidating Trust Advisory Board or the Debtor’s Estate.

More Definitions of Liquidating Trust Advisory Board

Liquidating Trust Advisory Board means the board comprised no less than

Liquidating Trust Advisory Board means a two-member board appointed on the Effective Date, pursuant to the Liquidating Trust Agreement, to (a) instruct and supervise the Liquidating Trustee with respect to its responsibilities under the Plan and the Liquidating Trust Agreement and (b) review and approve decisions of the Liquidating Trustee as set forth in the Liquidating Trust Agreement.

Liquidating Trust Advisory Board means a three-member board appointed on

Liquidating Trust Advisory Board means the board comprised of no less than three