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

Trustee Not Fiduciary for Holders of Senior Debt. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders or creditors if it shall in good faith pay over or distribute to Holders of Debentures or to the Company or to any other Person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article or otherwise.

Appears in 2 contracts

Samples: First Supplemental Indenture (Healthcare Realty Trust Inc), First Supplemental Indenture (Capstone Capital Corp)

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Trustee Not Fiduciary for Holders of Senior Debt. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders or creditors if it shall in good faith mistakenly pay over or distribute to Holders of Debentures or to the Company or to any other Person cashPerson, property money or securities assets to which any holders of Senior Debt shall be entitled by virtue of this Article 12 or otherwise, except if such mistake was the result of the Trustee's gross negligence or willful misconduct.

Appears in 2 contracts

Samples: Indenture (Prestige Brands International, Inc.), Indenture (Prestige Brands Holdings, Inc.)

Trustee Not Fiduciary for Holders of Senior Debt. The Trustee shall not be deemed to owe own any fiduciary duty to the holders of Senior Debt and and, subject to the provisions of Article Six, the Trustee shall not be liable to any such holders or creditors holder of Senior Debt if it shall in good faith mistakenly pay over or distribute deliver to Holders holders of Debentures or to Securities, the Company or to any other Person cash, property person money or securities assets to which any holders holder of Senior Debt shall be entitled by virtue of this Article Fourteen or otherwise.

Appears in 2 contracts

Samples: Indenture (Pinnacle West Capital Corp), Indenture (Pinnacle West Capital Corp)

Trustee Not Fiduciary for Holders of Senior Debt. The Trustee Trustee, in its capacity as trustee under this Indenture, shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders or creditors if it shall in good faith mistakenly pay over or distribute to Holders of Debentures or to the Company or to any other Person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article or otherwise.

Appears in 1 contract

Samples: Junior Subordinated Indenture (Vib Corp)

Trustee Not Fiduciary for Holders of Senior Debt. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders or creditors if it shall in good faith mistakenly pay over or distribute to Holders of Debentures or to the Company or to any other Person cashPerson, property money or securities assets to which any holders of Senior Debt shall be entitled by virtue of this Article 11 or otherwise, except if such mistake was the result of the Trustee's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Indenture (S&c Resale Co)

Trustee Not Fiduciary for Holders of Senior Debt. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders or creditors if it shall in good faith mistakenly pay over or distribute to Holders of Debentures or to the Company SFC or to any other Person cashPerson, property money or securities assets to which any holders of Senior Debt shall be entitled by virtue of this Article 11 or otherwise, except if such mistake was the result of the Trustee's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Indenture (S&c Holdco 3 Inc)

Trustee Not Fiduciary for Holders of Senior Debt. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders or creditors if it shall in good faith mistakenly pay over or distribute to Holders of Debentures or to Holders, the Company or to the Subsidiary Guarantors or any other Person cashPerson, property money or securities assets to which any holders of Senior Debt shall be entitled by virtue of this Article 12 or otherwise, except if such mistake was the result of the Trustee's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Indenture (Villa Pines Care LLC)

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Trustee Not Fiduciary for Holders of Senior Debt. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders or creditors if it shall in good faith pay over or distribute to Holders of Debentures or the Note Holders, to the Company or to any other Person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article or otherwise.

Appears in 1 contract

Samples: Indenture (Berthel Fisher & Co Leasing Inc)

Trustee Not Fiduciary for Holders of Senior Debt. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders or creditors if it shall in good faith mistakenly pay over or distribute to Holders of Debentures or to the Company or to any other Person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article or otherwise.

Appears in 1 contract

Samples: Indenture (Community Health Systems Inc/)

Trustee Not Fiduciary for Holders of Senior Debt. The Trustee Trustee, in its capacity as trustee under this Indenture, shall not owe or be deemed to owe any fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders or creditors if it shall in good faith mistakenly pay over or distribute to Holders of Debentures Securities or to the Company or to any other Person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article ARTICLE XII or otherwise.

Appears in 1 contract

Samples: Junior Subordinated Indenture (Uici)

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