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), 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 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)

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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: Indenture (Jazz Casino Co LLC)

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