Examples of Post-Confirmation Oversight Committee in a sentence
Members of the Post-Confirmation Oversight Committee shall serve without compensation, provided, however, members of the Post-Confirmation Oversight Committee shall be entitled to reimbursement from the Liquidating Trust for their reasonable and necessary out of pocket expenses incurred in connection with their service as members of the Post-Confirmation Oversight Committee.
Subsequent to the establishment of the initial compensation terms, the Liquidating Trustee, with the prior written approval of the Post-Confirmation Oversight Committee, may agree to modify the compensation structure.
In addition to any other consultation and reporting requirements set forth in this Liquidating Trust Agreement, the Liquidating Trustee shall report and consult with the Post-Confirmation Oversight Committee at its discretion or as reasonably requested by the Post-Confirmation Oversight Committee or any member thereof concerning the status and administration of the Liquidating Trust and the Assets.
As soon as reasonably practicable after the Claims Objection Deadline, subject to the terms of the Plan and this Liquidating Trust Agreement, the Liquidating Trustee shall make an initial distribution (the “Initial Distribution”) to Beneficiaries of an amount of Available Liquidating Trust Cash determined to be reasonable by the Liquidating Trustee, after consultation with the Post-Confirmation Oversight Committee, and after establishment of the Disputed Claims Reserve and the Professional Fee Reserve.
The Post-Confirmation Oversight Committee may adopt, by majority vote of all members, by-laws or other rules of procedure that are not inconsistent with the terms of this Liquidating Trust Agreement.
The Liquidating Trustee shall not pursue, commence or settle any Cause of Action not otherwise released without the prior consent of the Post-Confirmation Oversight Committee.
The Post-Confirmation Oversight Committee shall be entitled to enjoy all of the rights, powers, immunities and privileges of an official committee of unsecured creditors.
Any professionals retained by the Liquidating Trustee pursuant to this Liquidating Trust Agreement shall deliver their invoices or fee statements to the Liquidating Trustee and the Post-Confirmation Oversight Committee before payment from the Liquidating Trust Assets therefor shall be allowed.
Notwithstanding such authority, neither the Liquidating Trustee nor the Post-Confirmation Oversight Committee shall be under any obligation to consult with attorneys, accountants, financial advisors or agents, and their determination not to do so shall not result in the imposition of liability on the Liquidating Trustee or Post-Confirmation Oversight Committee or their respective members and/or designees.
Notwithstanding anything to the contrary contained in the Plan, all actions of the Liquidating Trustee shall be made in consultation with, and subject to the prior approval of, the Post-Confirmation Oversight Committee unless otherwise expressly provided in the Liquidating Trust Agreement.