Common use of No Further Liability Clause in Contracts

No Further Liability. (a) Each of the Litigation Trustee and the members of the Litigation Trust Advisory Board shall have no liability for any actions or omissions in accordance with this Litigation Trust Agreement unless arising out of their gross negligence or willful misconduct. In performing its duties under this Litigation Trust Agreement, the Litigation Trustee or the members of the Litigation Trust Advisory Board (as applicable) shall have no liability for any action taken by the Litigation Trustee and the members of the Litigation Trust Advisory Board in accordance with the advice of counsel, accountants, appraisers and other professionals retained by the members of the Litigation Trust Advisory Board or the Litigation Trust. Without limiting the generality of the foregoing, the Litigation Trustee and the members of the Litigation Trust Advisory Board may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by the Litigation Trustee or the members of the Litigation Trust Advisory Board (as applicable) to be genuine, and shall have no liability for actions taken in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee or the members of the Litigation Trust Advisory Board to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee and the members of the Litigation Trust Advisory Board may rely without inquiry upon writings delivered to it under the Plan which the Litigation Trustee or the members of the Litigation Trust Advisory Board (as applicable) reasonably believes to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 4.9 shall relieve the Litigation Trustee or the members of the Litigation Trust Advisory Board from any liability for any actions or omissions arising out of their gross negligence or willful misconduct. Any action taken or omitted to be taken in the case of the Litigation Trustee or the members of the Litigation Trust Advisory Board with the express approval of the Bankruptcy Court and, in the case of the Litigation Trustee, with the express approval of the members of the Litigation Trust Advisory Board will conclusively be deemed not to constitute gross negligence or willful misconduct.

No Further Liability. (a) Each of the Litigation Distribution Trustee and the members of the Litigation Trust Advisory Board Members shall have no liability for any actions or omissions in accordance with this Litigation Distribution Trust Agreement unless arising out of their gross negligence such Person’s own fraud, self-dealing, intentional misrepresentation or willful misconduct. In performing its duties under this Litigation Distribution Trust Agreement, the Litigation Distribution Trustee or the members of the Litigation Trust Advisory Board Member (as applicable) shall have no liability for any action taken by the Litigation Distribution Trustee and the members of the Litigation Trust Advisory Board Members in accordance with the advice of counsel, accountants, appraisers and and/or other professionals retained by the members of the Litigation Trust Advisory Board Members or the Litigation Distribution Trust. Without limiting the generality of the foregoing, the Litigation Distribution Trustee and the members of the Litigation Trust Advisory Board Members may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by the Litigation Distribution Trustee or the members of the Litigation Trust Advisory Board Member (as applicable) to be genuine, and shall have no liability for actions taken in reliance thereon. None of the provisions of this Litigation Distribution Trust Agreement shall require the Litigation Distribution Trustee or the members of the Litigation Trust Advisory Board Members to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Distribution Trustee and the members of the Litigation Trust Advisory Board Members may rely without inquiry upon writings delivered to it under the Plan which the Litigation Distribution Trustee or the members of the Litigation Trust Advisory Board Member (as applicable) reasonably believes to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 4.9 7.1 shall relieve the Litigation Distribution Trustee or the members of the Litigation Trust Advisory Board Members from any liability for any actions or omissions arising out of their gross negligence such Person’s own fraud, self-dealing, intentional misrepresentation or willful misconduct. Any action taken or omitted to be taken in the case of the Litigation Distribution Trustee or the members of the Litigation Distribution Trust Advisory Board with the express approval of the Bankruptcy Court and, in the case of the Litigation Distribution Trustee, with the express approval of the members of the Litigation Distribution Trust Advisory Board will conclusively be deemed not to constitute gross negligence fraud, self-dealing, intentional misrepresentation or willful misconduct.

No Further Liability. (a) Each of the Litigation Trustee and the members of the Litigation Trust Advisory Board Directors shall have no liability for any actions or omissions in accordance with this Litigation Trust Agreement unless arising out of their gross negligence or willful misconduct. In performing its duties under this Litigation Trust Agreement, the Litigation Trustee or the members of the Litigation Trust Advisory Board Director (as applicable) shall have no liability for any action taken by the Litigation Trustee and the members of the Litigation Trust Advisory Board Directors in accordance with the advice of counsel, accountants, appraisers and other professionals retained by the members of the Litigation Trust Advisory Board Directors or the Litigation Trust. Without limiting the generality of the foregoing, the Litigation Trustee and the members of the Litigation Trust Advisory Board Directors may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by the Litigation Trustee or the members of the Litigation Trust Advisory Board Director (as applicable) to be genuine, and shall have no liability for actions taken in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee or the members of the Litigation Trust Advisory Board Directors to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee and the members of the Litigation Trust Advisory Board Directors may rely without inquiry upon writings delivered to it under the Plan which the Litigation Trustee or the members of the Litigation Trust Advisory Board Director (as applicable) reasonably believes to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 4.9 7.1 shall relieve the Litigation Trustee or the members of the Litigation Trust Advisory Board Directors from any liability for any actions or omissions arising out of their gross negligence or willful misconduct. Any action taken or omitted to be taken in the case of the Litigation Trustee or the members of the Litigation Trust Advisory Board with the express approval of the Bankruptcy Court and, in the case of the Litigation Trustee, with the express approval of the members of the Litigation Trust Advisory Board will conclusively be deemed not to constitute gross negligence or willful misconduct.

No Further Liability. (a) Each of the Litigation Creditor Trustee and the members of the Litigation Trust Advisory Board Directors shall have no liability for any actions or omissions in accordance with this Litigation Creditor Trust Agreement unless arising out of their gross negligence or willful misconduct. In performing its its, his or her (as the case may be) duties under this Litigation Creditor Trust Agreement, the Litigation Creditor Trustee or the members of the Litigation Trust Advisory Board Director (as applicable) shall have no liability for any action taken by the Litigation Creditor Trustee and the members of the Litigation Trust Advisory Board Directors in accordance with the advice of counsel, accountants, appraisers and other professionals retained by the members of the Litigation Trust Advisory Board Directors or the Litigation Creditor Trust. Without limiting the generality of the foregoing, the Litigation Creditor Trustee and the members of the Litigation Trust Advisory Board Directors may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by the Litigation Creditor Trustee or the members of the Litigation Trust Advisory Board Director (as applicable) to be genuine, and shall have no liability for actions taken in reliance thereon. None of the provisions of this Litigation Creditor Trust Agreement shall require the Litigation Creditor Trustee or the members of the Litigation Trust Advisory Board Directors to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Creditor Trustee and the members of the Litigation Trust Advisory Board Directors may rely without inquiry upon writings delivered to it it, him or her (as the case may be) under the Plan which the Litigation Creditor Trustee or the members of the Litigation Trust Advisory Board Director (as applicable) reasonably believes to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 4.9 7.1 shall relieve the Litigation Creditor Trustee or the members of the Litigation Trust Advisory Board Directors from any liability for any actions or omissions arising out of their gross negligence or willful misconduct. Any action taken or omitted to be taken in the case of the Litigation Creditor Trustee or the members of the Litigation Trust Advisory Board with the express approval of the Bankruptcy Court and, in the case of the Litigation Creditor Trustee, with the express approval of the members of the Litigation Trust Advisory Board will conclusively be deemed not to constitute gross negligence or willful misconduct.

No Further Liability. (a) Each of the Litigation Trustee and the members of the Litigation Trust Advisory Board Members shall have no liability for any actions or omissions in accordance with this Litigation Trust Agreement unless arising out of their gross negligence such Person’s own fraud, self-dealing, intentional misrepresentation or willful misconduct. In performing its duties under this Litigation Trust Agreement, the Litigation Trustee or the members of the Litigation Trust Advisory Board Member (as applicable) shall have no liability for any action taken by the Litigation Trustee and the members of the Litigation Trust Advisory Board Members in accordance with the advice of counsel, accountants, appraisers and and/or other professionals retained by the members of the Litigation Trust Advisory Board Members or the Litigation Trust. Without limiting the generality of the foregoing, the Litigation Trustee and the members of the Litigation Trust Advisory Board Members may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by the Litigation Trustee or the members of the Litigation Trust Advisory Board Member (as applicable) to be genuine, and shall have no liability for actions taken in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee or the members of the Litigation Trust Advisory Board Members to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee and the members of the Litigation Trust Advisory Board Members may rely without inquiry upon writings delivered to it under the Plan which the Litigation Trustee or the members of the Litigation Trust Advisory Board Member (as applicable) reasonably believes to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 4.9 7.1 shall relieve the Litigation Trustee or the members of the Litigation Trust Advisory Board Members from any liability for any actions or omissions arising out of their gross negligence such Person’s own fraud, self-dealing, intentional misrepresentation or willful misconduct. Any action taken or omitted to be taken in the case of the Litigation Trustee or the members of the Litigation Trust Advisory Board with the express approval of the Bankruptcy Court and, in the case of the Litigation Trustee, with the express approval of the members of the Litigation Trust Advisory Board will conclusively be deemed not to constitute gross negligence fraud, self-dealing, intentional misrepresentation or willful misconduct.

No Further Liability. (a) Each of the Litigation Trustee and the members of the Litigation Trust Advisory Governing Board Directors shall have no liability not be liable for any actions action taken or omissions omitted in good faith and reasonably believed by it/him/her to be authorized within the discretion or rights or powers conferred upon it/him/her in accordance with this Litigation Trust Agreement unless arising out of their gross negligence or willful misconductAgreement. In performing its its/his/her duties under this Litigation Trust Agreement, each of the Litigation Trustee or and the members of the Litigation Trust Advisory Governing Board (as applicable) Directors shall have no liability for any action taken by the Litigation Trustee and the members of the Litigation Trust Advisory Governing Board Directors in good faith in accordance with the advice of counsel, accountants, appraisers and other professionals retained by the members of the Litigation Trust Advisory Governing Board Directors or the Litigation Trust. Without limiting the generality of the foregoing, the Litigation Trustee and the members of the Litigation Trust Advisory Governing Board Directors may rely without independent investigation on copies SUBJECT TO REVISION IN ACCORDANCE WITH THE PLAN of orders of the Bankruptcy Court reasonably believed by the Litigation Trustee or the members of the Litigation Trust Advisory Board (as applicable) them to be genuine, and shall have no liability for actions taken in good faith in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee or the members of the Litigation Trust Advisory Governing Board Directors to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee and the members of the Litigation Trust Advisory Governing Board Directors may rely without inquiry upon writings delivered to it it/him/her under the Plan which the Litigation Trustee or the members of the Litigation Trust Advisory Board (as applicable) it/he/she reasonably believes in good faith to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 4.9 7.1 shall relieve the Litigation Trustee or the members of the Litigation Trust Advisory Governing Board Directors from any liability for any actions or omissions arising out of their gross negligence or negligence, willful misconduct. Any action taken , breach of fiduciary duty or omitted to be taken in the case knowing violation of the Litigation Trustee or the members of the Litigation Trust Advisory Board with the express approval of the Bankruptcy Court and, in the case of the Litigation Trustee, with the express approval of the members of the Litigation Trust Advisory Board will conclusively be deemed not to constitute gross negligence or willful misconductlaw.

No Further Liability. (a) Each of the Litigation Trustee and the members of the Litigation Trust Advisory Governing Board Directors shall have no liability not be liable for any actions action taken or omissions omitted in good faith and reasonably believed by it/him/her to be authorized within the discretion or rights or powers conferred upon it/him/her in accordance with this Litigation Trust Agreement unless arising out of their gross negligence or willful misconductAgreement. In performing its its/his/her duties under this Litigation Trust Agreement, each of the Litigation Trustee or and the members of the Litigation Trust Advisory Governing Board (as applicable) Directors shall have no liability for any action taken by the Litigation Trustee and the members of the Litigation Trust Advisory Governing Board Directors in good faith in accordance with the advice of counsel, accountants, appraisers and other professionals retained by the members of the Litigation Trust Advisory Governing Board Directors or the Litigation Trust. Without limiting the generality of the foregoing, the Litigation Trustee and the members of the Litigation Trust Advisory Governing Board Directors may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by the Litigation Trustee or the members of the Litigation Trust Advisory Board (as applicable) them to be genuine, and shall have no liability for actions taken in good faith in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee or the members of the Litigation Trust Advisory Governing Board Directors to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee and the members of the Litigation Trust Advisory Governing Board Directors may rely without inquiry upon writings delivered to it it/him/her under the Plan which the Litigation Trustee or the members of the Litigation Trust Advisory Board (as applicable) it/he/she reasonably believes in good faith to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 4.9 7.1 shall relieve the Litigation Trustee or the members of the Litigation Trust Advisory Governing Board Directors from any liability for any actions or omissions arising out of their gross negligence or negligence, willful misconduct. Any action taken , breach of fiduciary duty or omitted to be taken in the case knowing violation of the Litigation Trustee or the members of the Litigation Trust Advisory Board with the express approval of the Bankruptcy Court and, in the case of the Litigation Trustee, with the express approval of the members of the Litigation Trust Advisory Board will conclusively be deemed not to constitute gross negligence or willful misconductlaw.

No Further Liability. (a) Each of the Litigation Trustee and the members of the Litigation Trust Advisory Board Oversight Committee shall have no liability for any actions or omissions in accordance with this Litigation Trust Agreement unless arising out of their gross negligence or willful misconduct. In performing its duties under this Litigation Trust Agreement, the Litigation Trustee or the members of the Litigation Trust Advisory Board Oversight Committee (as applicable) shall have no liability for any action taken by the Litigation Trustee and the members of the Litigation Trust Advisory Board Oversight Committee in accordance with the advice of counsel, accountants, appraisers and other professionals retained by the members of the Litigation Trust Advisory Board Oversight Committee or the Litigation Trust. Without limiting the generality of the foregoing, the Litigation Trustee and the members of the Litigation Trust Advisory Board Oversight Committee may rely without independent investigation on copies of orders of the Bankruptcy Court reasonably believed by the Litigation Trustee or the members of the Litigation Trust Advisory Board Oversight Committee (as applicable) to be genuine, and shall have no liability for actions taken in reliance thereon. None of the provisions of this Litigation Trust Agreement shall require the Litigation Trustee or the members of the Litigation Trust Advisory Board Oversight Committee to expend or risk their own funds or otherwise incur personal financial liability in the performance of any of their duties hereunder or in the exercise of any of their rights and powers. Each of the Litigation Trustee and the members of the Litigation Trust Advisory Board Oversight Committee may rely without inquiry upon writings delivered to it under the Plan which the Litigation Trustee or the members of the Litigation Trust Advisory Board Oversight Committee (as applicable) reasonably believes to be genuine and to have been given by a proper Person. Notwithstanding the foregoing, nothing in this Section 4.9 shall relieve the Litigation Trustee or the members of the Litigation Trust Advisory Board Oversight Committee from any liability for any actions or omissions arising out of their gross negligence or willful misconduct. Any action taken or omitted to be taken in the case of the Litigation Trustee or the members of the Litigation Trust Advisory Board Oversight Committee with the express approval of the Bankruptcy Court and, in the case of the Litigation Trustee, with the express approval of the members of the Litigation Trust Advisory Board Oversight Committee will conclusively be deemed not to constitute gross negligence or willful misconduct.