Common use of Rights and Powers of Disbursing Agent Clause in Contracts

Rights and Powers of Disbursing Agent. From and after the Effective Date, the Disbursing Agent, solely in its capacity as Disbursing Agent, shall be exculpated by all Entities, including, without limitation, Holders of Claims against and Interests in the Debtors and other parties in interest, from any and all Claims, Causes of Action, and other assertions of liability arising out of the discharge of the powers and duties conferred upon such Disbursing Agent by this Plan or any Order of the Bankruptcy Court entered pursuant to or in furtherance of this Plan, or applicable Law, except for actions or omissions to act arising out of the gross negligence or willful misconduct, fraud, malpractice, criminal conduct, or ultra ▇▇▇▇▇ acts of such Disbursing Agent. No Holder of a Claim or Interest or other party in interest shall have or pursue any Claim or Cause of Action against the Disbursing Agent, solely in its capacity as Disbursing Agent, for making payments in accordance with this Plan or for implementing provisions of this Plan, except for actions or omissions to act arising out of the gross negligence or willful misconduct, fraud, malpractice, criminal conduct, or ultra ▇▇▇▇▇ acts of such Disbursing Agent.

Rights and Powers of Disbursing Agent. (a) From and after the Effective Date, the Disbursing Agent, solely in its capacity as Disbursing Agent, shall be exculpated by all Entities, including, without limitation, Holders holders of Claims against and Interests in the Debtors and other parties in interest, from any and all Claims, Causes of Action, and other assertions of liability arising out of the discharge of the powers and duties conferred upon such Disbursing Agent by this the Plan or any Order order of the Bankruptcy Court entered pursuant to or in furtherance of this the Plan, or applicable Lawlaw, except for actions or omissions to act arising out of the gross negligence or willful misconduct, fraud, malpractice, criminal conduct, or ultra ▇▇▇▇▇ acts of such Disbursing Agent. No Holder holder of a Claim or Interest or other party in interest shall have or pursue any Claim claim or Cause of Action against the Disbursing Agent, solely in its capacity as Disbursing Agent, for making payments in accordance with this the Plan or for implementing provisions of this the Plan, except for actions or omissions to act arising out of the gross negligence or willful misconduct, fraud, malpractice, criminal conduct, or ultra ▇▇▇▇▇ acts of such Disbursing Agent. (b) The Disbursing Agent shall be empowered to (i) effect all actions and execute all agreements, instruments, and other documents necessary to perform its duties hereunder, (ii) make all Plan Distributions contemplated hereby, and (iii) exercise such other powers as may be vested in the Disbursing Agent by order of the Bankruptcy Court, pursuant to the Plan, or as deemed by the Disbursing Agent to be necessary and proper to implement the provisions hereof.

Rights and Powers of Disbursing Agent. (a) From and after the Effective Date, the each Disbursing Agent, solely in its capacity as Disbursing Agent, shall be exculpated by all Entities, including, without limitation, Holders of Claims against and Interests in the Debtors and other parties in interest, from any and all Claimsclaims, Causes of Action, and other assertions of liability arising out of the discharge of the powers and duties conferred upon such Disbursing Agent by this the Plan or any Order order of the Bankruptcy Court entered pursuant to or in furtherance of this the Plan, or applicable Lawlaw, except for actions or omissions to act arising out of the gross negligence or willful misconduct, fraud, malpractice, criminal conduct, or ultra ▇▇▇▇▇ acts of such Disbursing Agent. No Holder of a Claim or Interest or other party in interest shall have or pursue any Claim claim or Cause of Action against vested in a Disbursing Agent by order of the Disbursing AgentBankruptcy Court, solely in its capacity as Disbursing Agent, for making payments in accordance with this Plan or for implementing provisions of this pursuant to the Plan, except for actions or omissions to act arising out of the gross negligence or willful misconduct, fraud, malpractice, criminal conduct, or ultra ▇▇▇▇▇ acts of as deemed by such Disbursing AgentAgent to be necessary and proper to implement the provisions hereof.