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

Trustee Not Fiduciary for Holders of Senior Debt. The Trustee, in its capacity as trustee under this Indenture, shall not be deemed to owe any fiduciary duty to the holders of the Corporation's or the Guarantor's 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 Securities or Guarantees, as the case may be, or to the Corporation or the Guarantor, as the case may be, or to any other Person cash, property or securities to which any holders of Corporation's or the Guarantor's Senior Debt, as the case may be, shall be entitled by virtue of this Article or otherwise.

Appears in 4 contracts

Samples: Indenture (Banponce Trust Ii), Indenture (Banponce Corp), Popular North America Capital Trust Iii

AutoNDA by SimpleDocs

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

Appears in 1 contract

Samples: FPC Capital Ii

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!