Rights and Powers of the GUC Oversight Administrator Sample Clauses

Rights and Powers of the GUC Oversight Administrator. The GUC Oversight Administrator shall be deemed a Distribution Agent under the Plan and shall be empowered to (i) effect all actions and execute all agreements, instruments, and other documents necessary to perform its duties under the Plan; (ii) make all distributions with respect to Allowed General Unsecured Claims; (iii) employ professionals to represent it with respect to its responsibilities; (iv) prosecute the Specified Causes of Action subject to Article IV.J, supra; (v) control the allowance of the GUC Administrator Claims (including through control of GUC Administrator Claim Related Actions) pursuant to the GUC Settlement Procedures and this Plan and in consultation with the Reorganized Debtors; (vi) make distributions to Holders of Allowed General Unsecured Claims from the General Unsecured Recovery Cash Account pursuant to the terms of this Plan; (vii) take the actions provided in the ADR Procedures; (viii) exercise the consultation rights regarding General Unsecured Claims other than GUC Administrator Claims provided in the GUC Settlement Procedures; and (ix) exercise such other powers as may be vested in the GUC Oversight Administrator by order of the Bankruptcy Court, pursuant to the Plan, or as deemed by the GUC Oversight Administrator and the Reorganized Debtors to be necessary and proper to implement the provisions hereof. Without limiting any of the foregoing, the GUC Oversight Administrator may, but is not required, to seek an Order from the Bankruptcy Court with respect to its rights, powers, and duties. The GUC Oversight Administrator shall expeditiously resolve all GUC Administrator Claims in a cost-effective manner consistent with the GUC Settlement Procedures and this Plan. The Reorganized Debtors shall provide the GUC Oversight Administrator with a spreadsheet of all known GUC Administrator Claims, which shall include the filed amounts. The Reorganized Debtors shall cooperate in good faith with the GUC Oversight Administrator and shall provide the GUC Oversight Administrator with reasonable access to information regarding the GUC Administrator Claims and the Specified Causes of Action. The GUC Oversight Administrator shall consult with the Reorganized Debtor before settling, allowing, or objecting to a GUC Administrator Claim. If the GUC Oversight Administrator files an objection to a GUC Administrator Claim, the Reorganized Debtors may appear and be heard with respect to such objection. To the extent there are no Disputed General ...
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Related to Rights and Powers of the GUC Oversight Administrator

  • Express Powers of Trustee Without in any way limiting the powers and discretions conferred upon the Trustee by the other provisions of this Agreement or by law, the Trustee is expressly authorized and empowered:

  • Purposes and Powers of the Trust The purpose of the trust, as created hereunder, is to engage in the following activities:

  • Purpose and Powers of the Company The Company is organized for the purpose of carrying on any lawful activity for which limited liability companies may be formed under the Act. The Company shall possess and may exercise all of the powers and privileges granted by the Act or by any other law or by this Agreement, together with any powers incidental thereto, so far as such powers and privileges are necessary or convenient to the conduct, promotion or attainment of the business purposes or activities of the Company contemplated by this Agreement.

  • Powers of the Advisor Subject to the express limitations set forth in this Agreement and the continuing and exclusive authority of the Board over the management of the Company, the power to direct the management, operation and policies of the Company, including making, financing and disposing of investments, shall be vested in the Advisor, which shall have the power by itself and shall be authorized and empowered on behalf and in the name of the Company to carry out any and all of the objectives and purposes of the Company and to perform all acts and enter into and perform all contracts and other undertakings that it may in its sole discretion deem necessary, advisable or incidental thereto to perform its obligations under this Agreement.

  • Rights Obligations and Powers of the General Partner 6.1 Management of the Partnership.

  • Powers of the Company The Company shall have the power and authority to take any and all actions necessary, appropriate, advisable, convenient or incidental to or for the furtherance of the purpose set forth in Section 2.6, including, but not limited to, the power and authority to:

  • Rights and Powers Each Agent may, in connection with its services hereunder:

  • Powers of General Partner Notwithstanding any provision of this Agreement to the contrary, the General Partner’s discretion and authority are subject to the limitations imposed by law, and by the General Partner’s Articles of Organization and operating agreement. Subject to the foregoing and to other limitations imposed by this Agreement, the General Partner shall have full, complete and exclusive discretion to manage and control the business and affairs of the Partnership and make all decisions affecting the business and assets of the Partnership. Without limiting the generality of the foregoing (but subject to the restrictions specifically contained in this Agreement), the General Partner shall have the power and authority to take the following actions on behalf of the Partnership:

  • Bank Accounts and Powers of Attorney Set forth in Schedule 3.21 is an accurate and complete list showing (a) the name of each bank in which the Company has an account, credit line or safe deposit box and the names of all Persons authorized to draw thereon or to have access thereto, and (b) the names of all Persons, if any, holding powers of attorney from the Company and a summary statement of the terms thereof.

  • Powers of Trustee The Trustee shall have no discretion or authority with respect to the investment of the Trust Fund but shall act solely as a directed trustee of the funds contributed to it. In addition to and not in limitation of such powers as the Trustee has by law or under any other provisions of the Plan, the Trustee will have the following powers, each of which the Trustee exercises solely as directed Trustee in accordance with the written direction of the Employer except to the extent a Plan asset is subject to Participant direction of investment and provided that no such power shall be exercised in any manner inconsistent with the provisions of ERlSA:

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