Common use of Appointment of Fiscal Agent Clause in Contracts

Appointment of Fiscal Agent. Each Enron Party and each Claim Holder hereby irrevocably designates and appoints United States Trust Company of New York to act as the Fiscal Agent hereunder and under the other Fiscal Agency Documents and authorizes the Fiscal Agent to exercise such powers and perform such duties as are expressly required to be exercised or performed by the Fiscal Agent hereunder and thereunder, together with such other powers as are reasonably incidental thereto. By its signature below, United States Trust Company of New York agrees to act as Fiscal Agent on and subject to the terms and conditions set forth herein.