Examples of Exculpated Parties in a sentence
The Exculpation Provision is narrowly tailored to protect the Exculpated Parties from inappropriate litigation based on their efforts in these chapter 11 cases and does not release any claim based on any act or omission that constitutes a criminal act, intentional fraud, willful misconduct, or gross negligence as determined by a Final Order.
The non-Debtor Exculpated Parties participated in these cases in reliance upon the protections afforded to them by the Exculpation Provision.
Therefore, the Exculpated Parties are properly given the benefit of the Exculpation Provision.
Although certain of the Exculpated Parties do not owe fiduciary duties to the Debtors, such parties acted in good faith before and throughout these cases and were integral participants in the plan process, essential to the success of these chapter 11 cases, and, in somecases, are de facto proponents of the Plan.