Liquidating Trustees definition

Liquidating Trustees has the meaning specified in Section 11.5(a).

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Liquidating Trustees means the board of directors of the post-Effective Date Debtor, which shall be composed of ▇▇▇▇▇ ▇▇▇▇▇▇ and ▇▇▇▇ ▇▇▇▇▇▇ and vested with sole authority to administer the Liquidating Estate.

Liquidating Trustees means Vikaran Ghei and Michael Zaitzeff , or any other person approved by the Court as Liquidating Trustee, and any successor trustee(s) appointed pursuant to the Liquidating Trust Agreement, that has the powers and responsibilities set forth in the Plan, the Confirmation Order and the Liquidating Trust Agreement and in such capacity shall act as a liquidator of the Debtor and its assets for the benefit of Holders of Allowed Claims. Whenever the Liquidating Trustee is referred to herein, all such references are qualified by the Liquidating Trustee’s powers, rights and obligations as set forth in the Liquidating Trust Agreement.

Examples of Liquidating Trustees in a sentence

• It is expressly understood and agreed that a reasonable time shall be allowed for the orderly liquidation of the assets of the Company and the satisfaction of claims against the Company so as to enable the Liquidating Trustees to minimize the losses that may result from a liquidation.

• Upon their designation, the Liquidating Trustees shall immediately commence to wind up the affairs of the Company in accordance with the provisions of this Agreement and the Delaware Limited Liability Company Act.

• Such resignation shall become effective on the day specified in such notice or upon the appointment of such Liquidating Trustee's successor and such successor's acceptance of such appointment, whichever is earlier.

• No Beneficiary shall have any right by virtue of any provision of this Agreement to institute any action or proceeding at law or in equity against any party other than the Liquidating Trustees upon or under or with respect to any Liquidating Trust Assets or the agreements relating to or forming part of any Liquidating Trust Assets, and the Beneficiaries do hereby waive any such right.

• The number of Liquidating Trustees may be increased or decreased from time to time by the Liquidating Trustee.

• The Liquidating Trustee may at any time call a meeting of the Beneficiaries of the Liquidating Trust to be held at such time and at such place within the State of Delaware (or elsewhere if so determined by a majority of the Liquidating Trustees) as the Liquidating Trustee shall determine.

• If such a vacancy is not filled by any remaining Liquidating Trustees within ninety (90) days, the remaining Liquidating Trustees must notify the Beneficiaries of their inability to fill such vacancy, and the Beneficiaries may, pursuant to Article XII hereof, call a meeting to appoint a successor Liquidating Trustee by Beneficiaries holding Liquidating Trust Units representing an aggregate of at least a majority of the total Beneficial Interests in the Liquidating Trust.

• Upon their designation, the Liquidating Trustees shall immediately commence to wind up the affairs of the Company in accordance with the provisions of this Agreement and the Act.

• Pending the appointment of a successor Liquidating Trustee, the remaining Liquidating Trustee or Liquidating Trustees then serving may take any action in the manner set forth in Section 8.1.

• In the event the Liquidating Trustee(s) reasonably believe that it is prudent to do so, cash or other assets held in reserve may be placed in a liquidating trust or other escrow immediately prior to the termination of the Company in order to ensure that any and all obligations of the Company are satisfied.

More Definitions of Liquidating Trustees

Liquidating Trustees has the meaning given to it in Section 10.3.

Liquidating Trustees means the original Liquidating Trustees (i.e., ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ and ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇) and their successors.

Liquidating Trustees means the Person(s) to be designated in the Confirmation Order with the joint approval of Getty Realty and the Committee to serve as the trustees of the Liquidating Trust, and any successors thereto, individually and/or collectively.

Liquidating Trustees means, together, the Class 2 Liquidating Trustee and the Class 3 Liquidating Trustee.

Liquidating Trustees means the original Liquidating Trustees (i.e., certain individuals who currently serve as officers of the Managing General Partner) and their successors.