Common use of Effect of Resignation or Removal Clause in Contracts

Effect of Resignation or Removal. The resignation, removal, or incompetency of the Plan Administrator shall not operate to terminate the Post-Consummation Trust or to revoke any existing agency created pursuant to the terms of this Agreement, the Plan or the Confirmation Order or invalidate any action theretofore taken by the Plan Administrator. All fees and expenses incurred by the Plan Administrator prior to the resignation, incompetency or removal of the Plan Administrator shall be paid from the Trust Proceeds, unless such fees and expenses are disputed by (a) the Post-Consummation Trust Committee or (b) the successor Plan Administrator, in which case the Bankruptcy Court shall resolve the dispute and any disputed fees and expenses of the predecessor Plan Administrator that are subsequently allowed by the Bankruptcy Court shall be paid from the Trust Proceeds. In the event of the resignation or removal of the Plan Administrator, such Plan Administrator shall: (i) promptly execute and deliver such documents, instruments and other writings as may be reasonably requested by the successor Plan Administrator or directed by the Bankruptcy Court to effect the termination of such Plan Administrator’s capacity under this Agreement; (ii) promptly deliver to the successor Plan Administrator all documents, instruments, records and other writings related to the Post- Consummation Trust as may be in the possession of such Plan Administrator; provided that such Plan Administrator may retain one copy of each of such documents for its purposes; and (iii) otherwise assist and cooperate in effecting the assumption of its obligations and functions by such successor Plan Administrator.