Rights, Powers and Privileges Clause Samples

Rights, Powers and Privileges. The Distribution Trustee will have only the rights, powers and privileges to act on behalf of the Distribution Trust expressly provided in the Plan and this Agreement and as provided by law in the event that the Plan or this Agreement does not reference any such right, power or privilege. Unless otherwise expressly limited or restricted by the Plan or this Agreement, so long as such actions are, in the Distribution Trustee’s reasonable judgment, necessary to manage the affairs of the Distribution Trust and safeguard the interest of the Beneficiaries, the Distribution Trustee will have the right, power, privilege and obligation, to: (a) effect all actions and execute all agreements, instruments and other documents necessary to implement the Plan; (b) establish, maintain and administer the Trust Accounts and, if necessary, any additional trust accounts (including paying all Distribution Trust Expenses using the Distribution Trust Expenses Account), and determine the manner of ascertainment of income and principal of the assets in the Distribution Trust, and the apportionment of income and principal among such assets; (c) accept, preserve, receive, collect, manage, invest, supervise, prosecute, settle and protect the Distribution Trust Assets (directly or through one or more third party Disbursing Agents), each in accordance with the Plan and this Agreement; (d) sell, liquidate, transfer, distribute or otherwise dispose of the Distribution Trust Assets (directly or through a Third Party Disbursing Agent) or any part thereof or any interest therein upon such terms as the Distribution Trustee determines to be necessary, appropriate or desirable, pursuant to the procedures for allowing Claims and making distributions prescribed in the Plan, and otherwise consistent with the terms of the Plan; (e) calculate and make distributions of the Distribution Trust Assets to holders of Allowed Claims pursuant to the procedures for allowing Claims and making distributions prescribed in the Plan; (f) subject to Section ‎7.2, review, reconcile, compromise, settle, prosecute or object to Disputed Claims and resolve any such objections as set forth in the Plan and this Agreement; (g) investigate and pursue Causes of Action as contemplated by Section ‎4.2, and raise defenses in connection with any actions or claims adverse to the Distribution Trust and, in connection therewith, establish, maintain and administer any litigation or similar trusts and related accounts, in each case...
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Rights, Powers and Privileges. In connection with the administration of the Liquidation Trust, except as set forth in this Agreement and the Plan, the Liquidation Trustee is authorized to perform any and all acts necessary or desirable to accomplish the purposes of the Liquidation Trust (including, without limitation, all powers, rights, and duties under applicable law). In connection therewith, and subject to the limitations of Section 4.4 hereof, the Liquidation Trustee shall have absolute discretion to pursue or not to pursue any and all Claims, rights, Contributed Claims, or other Causes of Action, as he or she determines are in the best interests of the Liquidation Trust Beneficiaries and consistent with the purposes of the Liquidation Trust, and shall have no liability for the outcome of his or her decision. Without limiting the foregoing, but subject to the limitations in this Agreement, the Liquidation Trustee shall be expressly authorized, but shall not be required, to take the actions set forth in Section 5.4.5 of the Plan.
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Rights, Powers and Privileges. The Company shall possess and exercise all the rights, powers, and privileges generally granted to a limited liability company organized under the laws of the State of Delaware as set forth in the Delaware Limited Liability Company Ad., Delaware Code §§ 18-101 et seq., and any regulations promulgated thereunder, or as they may be amended.
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Rights, Powers and Privileges. The Trustee shall have only the rights, powers, and privileges expressly provided in this Agreement and Plan. Subject to the terms of this Agreement, including Section 3.4 of this Agreement, the Trustee shall have the power to take the actions granted in this Section 3.1 and any powers reasonably incidental thereto, which the Trustee reasonably determines to be necessary or appropriate to fulfill the purpose of the Trust, including but not limited to: A. Prosecuting, settling, assigning, or otherwise compromising or abandoning for the benefit of the Trust any and all Causes of Action transferred to the Trust or arising in favor of the Trust, including, without limitation, taking any action with respect to appeals, counterclaims, and defenses of or with respect to such claims and causes of action, including retaining counsel to pursue the Causes of Action; B. Exercising all powers provided to the Trustee or the Trust under the Plan or Confirmation Order, including, without limitation, the right to allow, object to, or reconcile Unsecured Claims, Priority Claims (both tax and non-tax), Administrative Claims and Secured Claims and any other Claims asserted against the Debtors’ Estates; C. Liquidating, selling or abandoning the Assets or any portion thereof; D. Executing any documents and taking any other actions related to, or in connection with, the liquidation of the Assets and the exercise of the Trustee’s powers granted in this Agreement, the Plan, and Confirmation Order; E. Holding legal title to any and all rights of the Beneficiaries in, to, or arising from the Assets;
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Rights, Powers and Privileges. In connection with the administration of the Trust, except as set forth in this Agreement and the Plan, the Trustee is authorized to perform any and all acts necessary or desirable to accomplish the purposes of the Trust, including, without limitation, all powers, rights, and duties under applicable law; provided that the Trustee shall not perform any acts that are inconsistent with this Agreement and/or the Plan. Except for such matters pertaining to the Beneficiaries for which the Debtors have explicitly been granted the rights and powers to administer, including the Debtors’ rights and powers under Article VII of the Plan (Procedures for Resolving Contingent, Unliquidated, and Disputed Claims), the Trust and the Trustee, as applicable, shall have all of the rights and powers granted to the Debtors in the Plan as it pertains to the Beneficiaries, such as, by example only, and in addition to any powers and authority specifically set forth in other provisions of the Plan, and subject in all respects to the other terms and conditions of this Agreement, the Plan and the Confirmation Order, to take the following actions: (a) exercise the Trust’s consent rights with regard to the settlement of Class 4A Claims in an amount greater than $1,000,000, and Class 4C Claims in an amount greater than $10,000, including the Allowance of any Convenience Claims arising out of or related to the same transaction or series of transactions, document(s), conduct, or factual circumstances where, in the aggregate, such Claims total an amount greater than $10,000; provided, however, that the Trustee shall consult with the Class 4A Settlement Notice Parties (as defined in the Confirmation Order) consistent with paragraph 51 of the Confirmation Order, to the extent applicable; (b) maintain and make disbursements to the Reorganized Debtors from the Class 5A Reserve, as and to the extent provided in the Plan and this Agreement, and to exercise the Trust’s consent rights with regard to the settlement of Class 4B Claims in an amount greater than $1,000,000, as provided in the Plan; (c) establish, as necessary, disbursement and reserve accounts for the deposit and distribution of all amounts to be distributed under the Plan to the Beneficiaries; (d) in reliance upon the Debtors’ schedules and the official Claims register maintained in the Chapter 11 Cases, maintain a register evidencing the beneficial interest herein held by each Beneficiary and, in accordance with Section 8.1 hereof, s...
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Rights, Powers and Privileges. The Liquidating Trustee shall have only the rights, 1. Prosecuting, settling, assigning, or otherwise compromising the Causes of Action retained by the Contributing Debtors as set forth in the Plan Supplement, including taking any action to resolve appeals with respect to such reserved Causes of Action; 2. Exercising all powers provided to the Liquidating Trustee or the Liquidating Trust under the Combined Disclosure Statement and Plan or the Confirmation Order, including the right to Allow, settle, object to or reconcile any Claims against the Contributing Debtors’ Estates; 3. Liquidating, selling or abandoning the Liquidating Trust Assets or any portion thereof; provided that the Liquidating Trustee shall not sell or abandon any Liquidating Trust Asset or portion thereof without first seeking Bankruptcy Court authority and providing notice and an opportunity for a hearing to all Beneficiaries. 4. Making distributions of the Liquidating Trust Assets to the Beneficiaries on account of their Allowed Claims against each Contributing Debtor, and any other payments contemplated by this Agreement, the Combined Disclosure Statement and Plan or the Confirmation Order; 5. Executing any documents and taking any other actions related to, or in connection with, the liquidation of the Liquidating Trust Assets and the exercise of the Liquidating Trustee’s powers granted in this Agreement, the Combined Disclosure Statement and Plan or the Confirmation Order; 6. Holding legal title to any and all rights of the Beneficiaries in, to, or arising from, the Liquidating Trust Assets;
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Rights, Powers and Privileges. The Liquidation Trustee, together with its representatives and professionals, in such capacity, shall be vested with any and all powers and authority necessary to implement the Plan and wind up the business and affairs of the Debtors, including, without limitation: (i) serving as the sole officer and director of each of the Debtors;
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Related to Rights, Powers and Privileges

  • Rights and Privileges All participants enrolled in courses pursuant to the CONTRACT shall be entitled to all the rights and privileges to which other CONTRACTOR students are entitled, including, but not limited to, special instruction, use of facilities on CONTRACTOR’s premises such as the libraries and learning centers, counseling, student body activities, and veterans’ benefits. CONTRACTOR’s representatives will provide academic counseling for participants and inform them of CONTRACTOR’s services available to them.

  • Privileges All privileges that may be asserted under applicable law, including, without limitation, privileges arising under or relating to the attorney-client relationship (including but not limited to the attorney-client and work product privileges), the accountant-client privilege, and privileges relating to internal evaluative processes.

  • ASSOCIATION RIGHTS AND PRIVILEGES A. There will be no reprisals of any kind taken against any teacher solely by reason of his/her membership in the Association or for participation in any of its lawful activities. B. The Association will be provided with copies of minutes of public session official Board meetings. The Board will be provided copies of minutes of public session meetings of the Association. C. The Association may request and shall be given a place on the agenda of all regular Board meetings for brief reports and announcements. D. The Superintendent shall be available upon reasonable request to meet with representatives of the Association. E. The principal of each school shall be available upon reasonable request of Association representatives to discuss questions relating to the implementation of this Agreement in his/her school. F. The Association will be provided with the names and addresses of all new teachers and all retiring teachers as soon as such information is available. G. The Association will have the right to have placed in the Superintendent’s packet for all new teachers a letter prepared by the Association which informs said teachers that the Association is recognized as the exclusive negotiating representative for all teachers in the ▇▇▇▇▇▇ County Public School System. H. The Association shall be given a place on the agenda of the orientation program for new teachers to explain the function and benefits of membership. I. In order for the Association to properly fulfill this Agreement for the benefit of all teachers and the welfare of the school system, the Association representative may visit schools and talk with teachers, provided that the exercise of this right will not interfere with the educational program. The Association representative will check in at the front office of the school upon his/her arrival. J. The Association shall continue to use school buildings without cost at reasonable times for meetings provided the use of the building shall not result in any additional cost to the Board. The principal of the building in question will be notified in advance of the time and place of all such meetings. K. The Association representative will have the right to schedule meetings of the teachers before or after school work days or at any other times which do not disrupt the normal school program. L. There will be bulletin board space of appropriate size reserved for the Association, in an appropriate place in each school building, for the purpose of displaying notices, circulars, and such material. Copies of all such material will be given to the building principal, but his/her advance approval will not be required. M. The Association will have the right to place Association notices, circulars, and other materials in all teachers’ mailboxes. Copies of all such material will be given to the building principal and Superintendent, but his/her advance approval will not be required. The Association will also have the right to use the interschool mail to distribute prepackaged and labeled material, and its office shall be a designated stop on the interschool mail distribution route for delivery of interschool mail, so long as the Association office is on a regular route. N. No teacher will be prevented from wearing pins or other identification of membership in the Association. O. Teachers shall be allowed to attend professional meetings with the approval of the Superintendent. P. The rights and/or privileges granted to the Association in this section will not be granted to any other teachers’ group or organization during the term of this Agreement. Q. Officers and members of the Association recognize that school equipment, time, and materials are intended primarily for the use of pupils. R. Unless a teacher requests that his/her address and phone number not be distributed, the Association faculty representative shall be provided with a faculty list, including home addresses and telephone numbers, by September 15. S. Association officers and/or representatives shall be permitted to draw upon a total of fifty

  • Rights and Powers Creditor may, without obligation to do so, exercise one or more of the following rights and powers with respect to the Collateral: (a) Accept in its discretion, but subject to the applicable limitations of Section 8, other property of the Borrower in exchange for all or part of the Collateral and release Collateral to the Borrower to the extent necessary to effect such exchange, and in such event the money, property or securities received in the exchange shall be held by the Creditor as substitute security for the Note and all other indebtedness secured hereunder; (b) Perform such acts as are necessary to preserve and protect the Collateral and the rights, powers and remedies granted with respect to such Collateral by this Agreement; and (c) Transfer record ownership of the Collateral to Creditor or its nominee and receive, endorse and give receipt for, or collect by legal proceedings or otherwise, dividends or other distributions made or paid with respect to the Collateral, but only if there exists at the time an outstanding event of default under Section 9 of this Agreement. Any action by Creditor pursuant to the provisions of this Section 3 may be taken without notice to Borrower. Expenses reasonably incurred in connection with such action shall be payable by the Borrower and form part of the indebtedness secured hereunder, as provided in Section 11. So long as there exists no event of default under Section 9 of this Agreement, Borrower may exercise all Member voting rights and be entitled to receive any and all regular cash distributions paid on the Collateral. Accordingly, until such time as an event of default occurs under this Agreement, all proxy statements and other Member materials pertaining to the Collateral shall be delivered to the Borrower at the address indicated below. Any cash sums that Creditor may receive in the exercise of its rights and powers under this Section 3 shall be applied to the payment of the Note and any other indebtedness secured hereunder, in such order of application, as Creditor deems appropriate. Any remaining cash shall be paid over to the Borrower.

  • UNION PRIVILEGES It is agreed that the business representative of the Union shall be admitted during working hours, at reasonable times, to interview employees while on duty or to inspect working conditions; provided, however, that such visits shall not unduly disturb the Employer's business and further, that the business representative shall report his presence to the Store Manager upon arrival at the store.