Common use of Trustee Not Fiduciary for Holders of Designated First Lien Indebtedness of the Issuers Clause in Contracts

Trustee Not Fiduciary for Holders of Designated First Lien Indebtedness of the Issuers. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Designated First Lien Indebtedness of the Issuers and shall not be liable to any such holders if it shall mistakenly pay over or distribute to Holders or the Issuers or any other Person, money or assets to which any holders of Designated First Lien Indebtedness of the Issuers shall be entitled by virtue of this Article Fourteen or otherwise.

Appears in 4 contracts

Samples: Indenture (Clearwire Corp /DE), Note Purchase Agreement (Sprint Nextel Corp), Note Purchase Agreement (Clearwire Corp /DE)

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Trustee Not Fiduciary for Holders of Designated First Lien Indebtedness of the Issuers. The Second-Priority Trustee shall not be deemed to owe any fiduciary duty to the holders of Designated First Lien Indebtedness of the Issuers and shall not be liable to any such holders if it shall mistakenly pay over or distribute to Holders or the Issuers or any other Person, money or assets to which any holders of Designated First Lien Indebtedness of the Issuers shall be entitled by virtue of this Article Fourteen 16 or otherwise.

Appears in 1 contract

Samples: Second Priority Indenture (Clearwire Corp /DE)

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