Common use of Trustee Not Fiduciary for Holders of Guarantor Senior Debt Clause in Contracts

Trustee Not Fiduciary for Holders of Guarantor Senior Debt. The provisions of this Indenture are not intended to create, nor shall they create, any trust or fiduciary relationship between the Trustee and the holders of Guarantor Senior Debt, nor shall any implied covenants or obligations with respect to holders of Guarantor Senior Debt (other than those expressly set forth herein) be read into this Indenture against the Trustee. Accordingly, notwithstanding any provision of this Article XIV to the contrary, the Trustee shall not be liable to any such holders if it shall, in good faith, inadvertently pay over or distribute to Holders or the Guarantor or any other person monies or assets to which any holders of Guarantor Senior Debt shall be entitled by virtue of this Article or otherwise.

Appears in 5 contracts

Samples: Indenture (Jazz Casino Co LLC), Indenture (Jazz Casino Co LLC), Indenture (Jazz Casino Co LLC)

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Trustee Not Fiduciary for Holders of Guarantor Senior Debt. The provisions of this Indenture are not intended to create, nor shall they create, any trust or fiduciary relationship between the Trustee and the holders of Guarantor Senior Debt, nor shall any implied covenants or obligations with respect to holders of Guarantor Senior Debt (other than those expressly set forth herein) be read into this Indenture against the Trustee. Accordingly, notwithstanding any provision of this Article XIV Fourteen to the contrary, the Trustee shall not be liable to any such holders if it shall, in good faith, inadvertently pay over or distribute to Holders or the Guarantor or any other person monies or assets to which any holders of Guarantor Senior Debt shall be entitled by virtue of this Article or otherwise.

Appears in 2 contracts

Samples: Indenture (Harrahs Operating Co Inc), Indenture (Harrahs Operating Co Inc)

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