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 if it shall mistakenly pay over or distribute to Holders or the Company or any other Person, money or 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: Prestige Brands International, Inc., Prestige Brands Holdings, Inc.

AutoNDA by SimpleDocs

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 holder of Senior Debt if it shall in good faith mistakenly pay over or distribute deliver to Holders or holders of Securities, the Company or any other Person, person money or assets to which any holders holder of Senior Debt shall be entitled by virtue of this Article 12 Fourteen or otherwise, except if such mistake was the result of the Trustee's gross negligence or willful misconduct.

Appears in 2 contracts

Samples: Indenture (Pinnacle West Capital Corp), Pinnacle West Capital 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 if it shall mistakenly pay over or distribute to Holders or the Company or any other Person, money or assets to which any holders of Senior Debt shall be entitled by virtue of this Article 12 11 or otherwise, except if such mistake was the result of the Trustee's gross negligence or willful misconduct.

Appears in 2 contracts

Samples: TOUSA Investment #1, Inc., TOUSA Investment #1, 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 mistakenly in good faith pay over or distribute to Holders of Debentures or to the Company or to any other PersonPerson cash, money property or assets securities 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 (Healthcare Realty Trust Inc), Capstone Capital 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 if it shall mistakenly pay over or distribute to Holders or the Company or any other Person, money or assets to which any holders of Senior Debt shall be entitled by virtue of this Article 12 11 or otherwise, except if such mistake was the result of the Trustee's gross negligence or willful misconduct.

Appears in 1 contract

Samples: 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 if it shall mistakenly pay over or distribute to Holders or the Company SFC or any other Person, money or assets to which any holders of Senior Debt shall be entitled by virtue of this Article 12 11 or otherwise, except if such mistake was the result of the Trustee's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Monitoring and Oversight Agreement (S&c Holdco 3 Inc)

AutoNDA by SimpleDocs

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 if it shall in good faith mistakenly pay over or distribute to Holders or to the Company or to any other PersonPerson cash, money property or assets securities 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: Community Health Systems 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 if it shall mistakenly in good faith pay over or distribute to Holders or the Note Holders, to the Company or to any other PersonPerson cash, money property or assets securities 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 (Berthel Fisher & Co Leasing Inc)

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 if it shall in good faith mistakenly pay over or distribute to Holders of Debentures or to the Company or to any other PersonPerson cash, money property or assets securities 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 (Vib Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.