Common use of Trustee Has No Fiduciary Duty to Holders of Senior Indebtedness of the Corporation Clause in Contracts

Trustee Has No Fiduciary Duty to Holders of Senior Indebtedness of the Corporation. With respect to the holders of Senior Indebtedness of the Corporation, the Trustee undertakes to perform or to observe only such of its covenants and objectives as are specifically set forth in the Indenture, and no implied covenants or obligations with respect to the holders of Senior Indebtedness of the Corporation shall be read into the Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness of the Corporation, and shall not be liable to any such holders if it shall mistakenly pay over or deliver to the Holders or the Corporation or any other Person, money or assets to which any holders of Senior Indebtedness of the Corporation shall be entitled by virtue of this Article or otherwise.

Appears in 4 contracts

Samples: Pp&l Capital Funding Inc, Pp&l Capital Funding Inc, PPL Electric Utilities Corp

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Trustee Has No Fiduciary Duty to Holders of Senior Indebtedness of the Corporation. With respect to the holders of Senior Indebtedness of the Corporation, the Trustee undertakes to perform or to observe only such of its covenants and objectives as are specifically set forth in the this Indenture, and no implied covenants or obligations with respect to the holders of Senior Indebtedness of the Corporation shall be read into the this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness of the Corporation, and shall not be liable to any such holders if it shall mistakenly pay over or deliver to the Holders Securityholders or the Corporation or any other Person, money or assets to which any holders of Senior Indebtedness of the Corporation shall be entitled by virtue of this Article Eighteen or otherwise.

Appears in 1 contract

Samples: First Supplemental Indenture (Constellation Energy Group Inc)

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