Common use of Trustees May File Proofs of Claim Clause in Contracts

Trustees May File Proofs of Claim. A Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustees (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustees, their agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company, its Subsidiaries or its or their respective creditors or properties and, unless prohibited by law or applicable regulations, may be entitled and empowered to participate as a member of any official committee of creditors appointed in such matter and may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustees and the Agent and, in the event that the Trustees or the Agent shall consent to the making of such payments directly to the Holders, to pay to the Trustees or the Agent any amount due it for the compensation, expenses, disbursements and advances of the Trustees or the Agent, their respective agents and its respective counsel, and any other amounts due the Trustees or the Agent under Section 7.7. No provision of this Indenture shall be deemed to authorize the Trustees to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize the Trustees to vote in respect of the claim of any Holder in any such proceeding.