Scope of Authority of Liquidating Trustee Sample Clauses

Scope of Authority of Liquidating Trustee. Within the limitations set forth herein, and subject to the oversight provisions set forth in this Agreement (including the approval rights of the Liquidating Trust Advisory Board set forth in Article 5.4 below), the responsibilities and authority of the Liquidating Trustee shall be the following (and activities reasonably incidental thereto): a. holding legal title (on behalf of the Liquidating Trust as Liquidating Trustee, but not individually) to and administering the Liquidating Trust Assets, including the Causes of Action and any rights held by the Liquidating Trust in any case or proceeding under the Bankruptcy Code, similar state laws, foreign insolvency laws or otherwise and to receive any distribution therein, in each case, on any terms and conditions as he may determine in good faith based on the best interests of the Liquidating Trust Beneficiaries; b. protecting and enforcing the rights to the Liquidating Trust Assets vested in the Liquidating Trust by the Plan by any method deemed appropriate in his reasonable business judgment, including by judicial proceedings or pursuant to any applicable bankruptcy, insolvency, moratorium or similar law and general principles of equity; c. selling or liquidating the Liquidating Trust Assets subject to Article 6.3 of the Plan; d. making Distributions as contemplated herein and under the Plan; e. investing funds (in the manner set forth in Article 3.7 herein), making distributions and paying any other obligations owed by the Liquidating Trust from the Liquidating Trust Assets as provided herein and in the Plan; f. conducting an analysis of Administrative Claims, Priority Tax Claims, Other Priority Claims, Secured Claims, General Unsecured Claims, Noteholders’ Securities Claims, Shareholders’ Securities Claims and Equity Interests, and prosecuting objections thereto or settling or otherwise compromising such Claims if necessary and appropriate; g. establishing and maintaining the Reserves in accordance with the terms of the Plan; h. entering into loans, including from Creditors, and accepting investments, including from Creditors, and, with the approval of the Liquidating Trust Advisory Board, repaying such Creditors with, inter alia, interest, fees, success fees, bonuses, and/or additional percentage recoveries; i. funding (i) F▇▇▇▇ ▇▇▇▇▇ in furtherance of the efforts of F▇▇▇▇ ▇▇▇▇▇ to gain control of the PRC Subsidiaries and (ii) the PRC Subsidiaries once F▇▇▇▇ ▇▇▇▇▇ gains control thereof; j. pledging the a...
View SourceView Similar (2)

Related to Scope of Authority of Liquidating Trustee

  • Scope of Authority Committee meetings will be used for communications between the parties, to share information and to address concerns. The committee will have no authority to conduct any negotiations or modify any provision of this Agreement. The committee’s activities and discussions will not be subject to the grievance procedure in Article 30.

  • CERTIFICATE OF AUTHORITY The Trust, the Adviser and the Sub-Adviser shall furnish to each other from time to time certified copies of the resolutions of their Boards of Trustees/Directors or executive committees, as the case may be, evidencing the authority of officers and employees who are authorized to act on behalf of the Trust, a Fund Account, the Adviser and/or the Sub-Adviser.

  • EXTENT OF AUTHORITY exercise a degree of autonomy; • control projects and/or programmes; • set outcomes for subordinates; • establish priorities and monitor workflow in areas of responsibility; • solutions to problems can generally be found in documented techniques, precedents and guidelines or instructions. Assistance is available when required.

  • Limit of Authority Unless otherwise expressly limited by the resolution of appointment or by subsequent action by Fund, the appointment of DST as Transfer Agent will be construed to cover the full amount of authorized stock of the class or classes for which DST is appointed as the same will, from time to time, be constituted, and any subsequent increases in such authorized amount. In case of such increase Fund will file with DST: A. If the appointment of DST was theretofore expressly limited, a certified copy of a resolution of Fund's Board of Directors or Trustees, as applicable, increasing the authority of DST; B. A certified copy of the amendment to Fund's Articles of Incorporation or Declaration of Trust, as applicable, authorizing the increase of stock; C. A certified copy of the order or consent of each governmental or regulatory authority required by law to consent to the issuance of the increased stock, and an opinion of counsel that the order or consent of no other governmental or regulatory authority is required;

  • Grant of Authority As of the Effective Date, GlobalSign hereby grants to Subscriber the authority for the term set forth in Section 7 to use the enclosed Digital Certificate to create Digital Signatures or to use the Digital Certificate in conjunction with Private Key or Public Key operations.