Common use of Disclaimer by Trustee of Responsibility for Certain Matters Clause in Contracts

Disclaimer by Trustee of Responsibility for Certain Matters. The Trustee shall not at any time be under any duty or responsibility to any Holder of Securities of any series to determine whether any facts exist which may require any adjustment of the conversion price for such series, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the same. The Trustee shall not be accountable with respect to the validity, value, kind or amount of any shares of common stock, or of any securities or property, which may at any time be issued or delivered upon the conversion of any Security; and it makes no representation with respect thereto. The Trustee shall not be responsible for any failure of the Company to issue, transfer or deliver any shares of common stock or stock certificates or other securities or property upon the surrender of any Security for the purpose of conversion or, subject to Section 7.01, to comply with any of the covenants of the Company contained in this Article.

Appears in 2 contracts

Samples: Indenture (Assisted Living Concepts Inc), Indenture (Assisted Living Concepts Inc)

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Disclaimer by Trustee of Responsibility for Certain Matters. The Trustee shall not at any time be under any duty or responsibility to any Holder of Securities of any series to determine whether any facts exist which may require any adjustment of the conversion price for such seriesSecurities, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the same. The Trustee shall not be accountable with respect to the validity, value, kind or amount of any shares of common stockUnits, or of any securities or property, which may at any time be issued or delivered upon the conversion of any Security; and it makes no representation with respect thereto. The Trustee shall not be responsible for any failure of the Company to issue, transfer or deliver any shares of common stock Units or stock certificates or other securities or property upon the surrender of any Security for the purpose of conversion or, subject to Section 7.01, to comply with any of the covenants of the Company contained in this Article.

Appears in 1 contract

Samples: Indenture (National Healthcare Corp)

Disclaimer by Trustee of Responsibility for Certain Matters. The Trustee shall not at any time be under any duty or responsibility to any Holder of Securities of any series to determine whether any facts exist which may require any adjustment of the conversion price for such series, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the same. The Trustee shall not be accountable with respect to the validity, value, kind or amount of any shares of common stock, or of any securities or property, which may at any time be issued or delivered upon the conversion of any Security; and it makes no representation with respect thereto. The Provided that the Conversion Agent has provided the Company with any notice required hereunder, the Trustee shall not be responsible for any failure of the Company to issue, transfer or deliver any shares of common stock or stock certificates or other securities or property upon the surrender of any Security for the purpose of conversion or, subject to Section 7.01, or to comply with any of the covenants of the Company contained in this Article.

Appears in 1 contract

Samples: Indenture (Santa Anita Realty Enterprises Inc)

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Disclaimer by Trustee of Responsibility for Certain Matters. The Trustee shall not at any time be under any duty or responsibility to any Holder of Securities of any series Debentures to determine whether any facts exist which may require any adjustment of the conversion price for such seriesprice, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, employed in making the same. The Trustee shall not be accountable with respect to the validity, value, kind or amount of any shares of common stockCommon Stock, or of any securities or property, which may at any time be issued or delivered upon the conversion of any SecurityDebenture; and it makes no representation with respect thereto. The Trustee shall not be responsible for any failure of the Company to issue, transfer or deliver any shares of common stock Common Stock or stock certificates or other securities or property upon the surrender of any Security Debenture for the purpose of conversion or, subject to Section 7.01601, to comply with any of the covenants of the Company contained in this Article.. ARTICLE FOURTEEN

Appears in 1 contract

Samples: Indenture (Maxtor Corp)

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