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

Rights and Powers of Disbursing Agent. (a) Powers of the Disbursing Agent. The Disbursing Agent shall be empowered to (a) effect all actions and execute all agreements, instruments and other documents necessary to implement this Plan of Reorganization (b) make distributions contemplated hereby, (c) liquidate property as required to make distributions contemplated hereby, (d) comply herewith and the obligations hereunder, (e) employ professionals to represent it with respect to its responsibilities, and (f) exercise such other powers as may be vested in the Disbursing Agent by order of the Bankruptcy Court, pursuant to this Plan of Reorganization, or as deemed by the Disbursing Agent to be necessary and proper to implement the provisions hereof.