Common use of Requirement of Undertaking Clause in Contracts

Requirement of Undertaking. The Liquidating Trustees may request any court to require, and any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Agreement, or in any suit against the Liquidating Trustees for any action taken or omitted by them as Liquidating Trustees, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and such court may in its discretion assess reasonable costs, including reasonable attorneys' fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; provided, that the provisions of this Section shall not apply to any suit by the Liquidating Trustees, and such undertaking shall not be required from the Liquidating Trustees or otherwise required in any suit by any Beneficiary or group of Beneficiaries having aggregate Beneficial Interests of more than 50% of all Beneficial Interests.

Requirement of Undertaking. The Liquidating Trustees Trustee may request any court to require, and any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Agreement, or in any suit against the Liquidating Trustees Trustee for any action taken or omitted by them it as Liquidating TrusteesTrustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and such court may in its discretion assess reasonable costs, including reasonable attorneys' fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; provided, that the provisions of this Section shall not apply to any suit by the Liquidating TrusteesTrustee, and such undertaking shall not be required from the Liquidating Trustees Trustee or otherwise required in any suit by any Beneficiary or group of Beneficiaries having aggregate Beneficial Beneficiary's Percentage Interests of more than 5066.7% of all Beneficial Beneficiary's Percentage Interests.