General Duties, Obligations, Rights, and Benefits of the Liquidation Trustee Sample Clauses

General Duties, Obligations, Rights, and Benefits of the Liquidation Trustee. The Liquidation Trustee shall have all duties, obligations, rights, and benefits assumed by, assigned to or vested in the Liquidation Trust under the Plan and this Liquidation Trust Agreement. Such duties, obligations, rights, and benefits include, without limitation, all duties, obligations, rights and benefits relating to the collection and liquidation of the Liquidation Trust Assets, administration of Claims, satisfaction of Claims of creditors, the pursuit of Causes of Action, distributions to Beneficiaries, administration of the Liquidation Trust, and any other duties, obligations, rights, and benefits reasonably necessary to accomplish the purpose of the Liquidation Trust under the Plan and this Liquidation Trust Agreement and any other agreement approved by the Bankruptcy Court as a Plan supplement. The Liquidation Trustee’s powers are exercisable in a fiduciary capacity consistent with and in furtherance of the purposes of this Liquidation Trust and consistent with and subject to this Liquidation Trust Agreement and not otherwise. Considering the best interests of the Beneficiaries, except as otherwise provided in the Plan or expressly set forth herein, the Liquidation Trustee shall have the absolute right to pursue any Causes of Action, contests or disputes in connection with Claims, or other litigation related to the Liquidation Trust and shall have no liability for the outcome of its decision.
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