Common use of Trustee Release Clause in Contracts

Trustee Release. ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, in his capacity as receiver for, among others, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ (“▇▇▇▇▇▇▇”) and various entities owned or controlled by Petters, including EBP Select Holdings, LLC, a Delaware limited liability company, and RTB Holding, LLC, a Delaware limited liability company, and in his capacity as Chapter 11 trustee for Petters Group Worldwide, LLC, a Delaware limited liability company, and of various other entities related to Petters that are also the subject of Chapter 11 bankruptcy, or his duly appointed successor as receiver or trustee, shall have granted a release of claims against (i) the Company, (ii) the Company’s wholly-owned subsidiaries, (iii) certain of the Company’s current and former members of the board of directors, officers and holders of the Company’s capital stock or warrants and (iv) the Underwriters, substantially in the form of release filed in In re Petters Company Inc. et al. before the United States Bankruptcy Court for the District of Minnesota on April 21, 2011. All opinions, letters, certificates and evidence mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if they are in form and substance reasonably satisfactory to counsel for the Underwriters. If any of the conditions hereinabove provided for in this Section 8 shall not have been fulfilled when and as required by this Agreement to be fulfilled, the obligations of the Underwriters hereunder may be terminated by the Representatives by notifying the Company and the Selling Stockholders of such termination in writing at or prior to the Closing Date or the Additional Closing Date, as the case may be. In such event, the Selling Stockholders, the Company and the Underwriters shall not be under any obligation to each other (except to the extent provided in Sections 9 and 13 hereof).

Trustee Release. ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, in his capacity as receiver for, among others, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ (“▇▇▇▇▇▇▇”) and various entities owned or controlled by Petters, including EBP Select Holdings, LLC, a Delaware limited liability company, and RTB Holding, LLC, a Delaware limited liability company, and in his capacity as Chapter 11 trustee for Petters Group Worldwide, LLC, a Delaware limited liability company, and of various other entities related to Petters that are also the subject of Chapter 11 bankruptcy, or his duly appointed successor as receiver or trustee, shall have granted a release of claims against (i) the Company, (ii) the Company’s wholly-owned subsidiaries, (iii) certain of the Company’s current and former members of the board of directors, officers and holders of the Company’s capital stock or warrants and (iv) the Underwriters, substantially in the form of release filed in In re Petters Company Inc. et al. before the United States Bankruptcy Court for the District of Minnesota on April 21, 2011. All opinions, letters, certificates and evidence mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if they are in form and substance reasonably satisfactory to counsel for the Underwriters. If any of the conditions hereinabove provided for in this Section 8 6 shall not have been fulfilled when and as required by this Agreement to be fulfilled, the obligations of the Underwriters hereunder may be terminated by the Representatives by notifying the Company and the Selling Stockholders of such termination in writing at or prior to the Closing Date or the Additional Closing Date, as the case may be. In such event, the Selling Stockholders, the Company and the Underwriters shall not be under any obligation to each other (except to the extent provided in Sections 9 7 and 13 11 hereof).