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

Rights and Powers of Disbursing Agent. (a) The Disbursing Agent shall be empowered to: (i) effect all actions and execute all agreements, instruments, and other documents necessary to perform its duties under this Plan; (ii) make all applicable distributions or payments provided for under this Plan; (iii) employ professionals to represent it with respect to its responsibilities; and (iv) exercise such other powers (A) as may be vested in the Disbursing Agent by order of the Bankruptcy Court (including any order issued after the Effective Date) or pursuant to this Plan or (B) as deemed by the Disbursing Agent to be necessary and proper to implement the provisions of this Plan. (b) To the extent the Disbursing Agent is an Entity other than a Debtor or Reorganized Debtor, except as otherwise ordered by the Bankruptcy Court and subject to the written agreement of LegacyCo, the amount of any reasonable fees and expenses incurred by the Disbursing Agent on or after the Effective Date (including taxes) and any reasonable compensation and expense reimbursement Claims (including for reasonable attorneys’ and other professional fees and expenses) made by the Disbursing Agent shall be paid in Cash by LegacyCo.

Rights and Powers of Disbursing Agent. (a) Powers of the Disbursing Agent. The Disbursing Agent shall be empowered to: (ia) effect all actions and execute all agreements, instruments, and other documents necessary to perform its duties under this the Plan; (iib) make all applicable distributions or payments provided for under this Plancontemplated hereby; (iiic) employ professionals to represent it with respect to its responsibilities; and (ivd) exercise such other powers (A) as may be vested in the Disbursing Agent by order of the Bankruptcy Court (including any order issued after the Effective Date) or Court, pursuant to this Plan the Plan, or (B) as deemed by the Disbursing Agent to be necessary and proper to implement the provisions of this Planhereof. (b) To Expenses Incurred On or After the extent the Disbursing Agent is an Entity other than a Debtor or Reorganized Debtor, except Effective Date. Except as otherwise ordered by the Bankruptcy Court and subject to the written agreement of LegacyCoCourt, the amount of any reasonable fees and expenses incurred by the Disbursing Agent on or after the Effective Date (including taxes) and any reasonable compensation and expense reimbursement Claims claims (including for reasonable attorneys’ and other professional attorney fees and expenses) made by the Disbursing Agent shall be paid in Cash by LegacyCothe Reorganized Debtors.