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

Trustee Not Fiduciary for Holders of Senior. Indebtedness. The Trustee shall not be deemed to owe any fiduciary duty to the ------------ holders of Senior Indebtedness 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 Person cash, property or securities to which any holders of Senior Indebtedness shall be entitled by virtue of this Article or otherwise. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants or obligations as are specifically set forth in this Article and no implied covenants or obligations with respect to holders of Senior Indebtedness shall be read into this Indenture against the Trustee.

Appears in 1 contract

Samples: Tritel Finance Inc

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Trustee Not Fiduciary for Holders of Senior. Indebtedness. With respect to the holders of Senior Indebtedness, the Trustee ------------- undertakes to perform or observe only such of its covenants and obligations as are specifically set forth in this Article XII, and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the ------------ holders of Senior Indebtedness and shall not be liable to any such holders if it shall in good faith mistakenly pay over or distribute to Holders of Subordinated Debt Securities or to the Company or to any other Person cashPerson, property money or securities assets to which any holders of Senior Indebtedness shall be entitled by virtue of this Article XII or otherwise. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants or obligations as are specifically set forth in this Article and no implied covenants or obligations with respect to holders of Senior Indebtedness shall be read into this Indenture against the Trustee.

Appears in 1 contract

Samples: Vintage Petroleum Capital I

Trustee Not Fiduciary for Holders of Senior. Indebtedness. ------------ The Trustee shall not be deemed to owe any fiduciary duty to the ------------ holders of Senior Indebtedness and shall not be liable to any such holders if it the Trustee shall mistakenly, in good faith mistakenly the absence of gross negligence or willful misconduct, pay over or distribute to Holders of Notes or to the Company or to any other Person person cash, property or securities to which any holders of Senior Indebtedness shall be entitled by virtue of this Article or otherwise. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants or obligations as are specifically set forth in this Article and no implied covenants or obligations with respect to holders of Senior Indebtedness shall be read into this Indenture against the Trustee.. ARTICLE THIRTEEN

Appears in 1 contract

Samples: Tmil Corp

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Trustee Not Fiduciary for Holders of Senior. Indebtedness. The Trustee shall not be deemed to owe any fiduciary duty to the ------------ ------------- holders of Senior Indebtedness and shall not be liable to any such holders if it shall in good faith mistakenly pay over or distribute to Holders Securityholders or to the Company or to any other Person cashPerson, property money or securities assets to which any holders of Senior Indebtedness shall be entitled by virtue of this Article 10 or otherwise. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants or obligations as are specifically set forth in this Article 10 and no implied covenants or obligations with respect to holders of Senior Indebtedness shall be read into this Indenture against the Trustee.

Appears in 1 contract

Samples: Ryder TRS Inc

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