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

Trustee Not Fiduciary for Holders of 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 Senior Debt, nor shall any implied covenants or obligations with respect to holders of Senior Debt (other than those expressly set forth herein) be read into this Indenture against the Trustee. Accordingly, notwithstanding any provision of this Article XIII 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 Company or any other person monies or assets to which any holders of Senior Debt shall be entitled by virtue of this Article XIII or otherwise.

Appears in 5 contracts

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

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Trustee Not Fiduciary for Holders of Senior Debt. The provisions of this Indenture are not intended With respect to create, nor shall they create, any trust or fiduciary relationship between the Trustee and the holders of Senior Debt, nor shall any the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations with respect to the holders of Senior Debt (other than those expressly set forth herein) shall be read into this Indenture against the Trustee. Accordingly, notwithstanding The Trustee shall not be deemed to owe any provision of this Article XIII fiduciary duty to the contrary, the Trustee holders of Senior Debt and shall not be liable to any such holders if it shall, shall in good faith, inadvertently the absence of bad faith mistakenly pay over or distribute to Holders of the Securities of any series or to the Company or to any other person monies Person cash, property or assets securities to which any holders of Senior Debt shall be entitled by virtue of this Article XIII or otherwise.

Appears in 3 contracts

Samples: Indenture (Apple Hospitality REIT, Inc.), Indenture (Anthem, Inc.), Indenture (Wellpoint, Inc)

Trustee Not Fiduciary for Holders of 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 Senior Debt, nor shall any implied covenants or obligations with respect to holders of Senior Debt (other than those expressly set forth herein) be read into this Indenture against the Trustee. Accordingly, notwithstanding any provision of this Article XIII Thirteen 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 Company or any other person monies or assets to which any holders of Senior Debt shall be entitled by virtue of this Article XIII Thirteen or otherwise.

Appears in 2 contracts

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

Trustee Not Fiduciary for Holders of Senior Debt. The provisions of this Indenture are Trustee shall not intended be deemed to create, nor shall they create, owe any trust or fiduciary relationship between the Trustee and duty to the holders of Senior DebtIndebtedness and it undertakes to perform and observe only such of its covenants and obligations with respect to the Senior Indebtedness as are specifically set forth in this Indenture, nor shall any and no implied covenants or obligations with respect to holders of the Senior Debt (other than those expressly set forth herein) Indebtedness shall be read into this Indenture against the Trustee. Accordingly, notwithstanding any provision of this Article XIII to the contrary, Trustee and the Trustee shall not be liable to any such holders if it shall, shall in good faith, inadvertently faith mistakenly pay over or distribute to Holders of Securities or to the Company or to any other person monies Person cash, property or assets securities to which any holders of Senior Debt Indebtedness shall be entitled by virtue of this Article XIII or otherwise.

Appears in 2 contracts

Samples: Securities Indenture (Western Wireless Corp), Western Wireless Corp

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Trustee Not Fiduciary for Holders of Senior Debt. The ------------------------------------------------- provisions of this Indenture are not intended to create, nor shall they create, any trust or fiduciary 104 relationship between the Trustee and the holders of Senior Debt, nor shall any implied covenants or obligations with respect to holders of Senior Debt (other than those expressly set forth herein) be read into this Indenture against the Trustee. Accordingly, notwithstanding any provision of this Article XIII 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 Company or any other person monies or assets to which any holders of Senior Debt shall be entitled by virtue of this Article XIII or otherwise.

Appears in 1 contract

Samples: Tia Indenture (Jazz Casino Co LLC)

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