Common use of Compensation of the Liquidating Trustee Clause in Contracts

Compensation of the Liquidating Trustee. The Trustees comprising the Liquidating Trustee shall be entitled to reasonable compensation in an amount consistent with that of similar functionaries in similar types of reorganization proceedings, provided, however, that they shall not receive double compensation for functions that they perform as both Liquidating Trustee and Estate Representative.

Appears in 2 contracts

Sources: Liquidating Trust Agreement (Global Crossing LTD), Liquidating Trust Agreement (Global Crossing LTD)

Compensation of the Liquidating Trustee. The Trustees comprising the Liquidating Trustee shall be entitled to reasonable compensation in an amount consistent with that of similar functionaries in similar types of reorganization proceedings, provided, however, that they shall not receive double compensation for functions that they perform as both Liquidating Trustee and Estate Representativeliquidations.

Appears in 1 contract

Sources: Liquidating Trust Agreement (High Speed Access Corp)