Exculpation definition

Exculpation means the exculpation provision set forth in Article X.E hereof.
Exculpation means the exculpation set forth in Article VIII.D of the Plan.
Exculpation means the exculpation provision set forth in Article X.D of the Plan.

Examples of Exculpation in a sentence

On its face, Section 10.5(b) not only prohibits direct claims against the Debtors, it prohibits indirect claims or those that “affect” the Debtors and their successors or the Consumer 8 The Plan Administrator and Consumer Representative recognize the Exculpation Provision contains a discrete limitation on its scope for obligations arising post-Effective Date out of the Plan or any agreement entered into after the Effective Date.

Here, acts by Mr. Singh and the Consumer Representative in connection with the claims process are an essential part of the administration of the Plan and are covered by the Exculpation Provision.

The Exculpation Provision expressly covers acts falling under the “administration of the Plan” – which by definition occur post-Effective Date.

This result is particularly appropriate when considered in light of the Exculpation Provision contained in Section 10.7 of the Plan that expressly encompasses all of the Individual Defendants.

The Exculpation Provision provides that “each Exculpated Party is hereby released and exculpated from, any claim .


More Definitions of Exculpation

Exculpation means the exculpation provision set forth in Article XI.Bhereof.
Exculpation means the exculpation set forth in Article VIII.E of this Plan.
Exculpation means the exculpation provision set forth in Article VIII.I.
Exculpation means the exculpation provision set forth in Section 11.5 hereof.
Exculpation means the exculpation provision set forth in Article X.E hereof. “Executory Contract” means a contract to which any Debtor is a party that is subject toassumption or rejection under section 365 of the Bankruptcy Code.
Exculpation means the exculpation provision set forth in Article XE hereof.
Exculpation means the exculpation provision set forth in Section 7.5 hereof.