Common use of Trustee Not Fiduciary for Holders Clause in Contracts

Trustee Not Fiduciary for Holders. of Senior Debt of a ----------------------------------------------------- Guarantor. The Trustee shall not be deemed to owe any fiduciary or other duty --------- to the holders of Senior Debt of a Guarantor and shall not be liable to any such holders if it shall mistakenly pay over or distribute to Securityholders or the relevant Guarantor or any other Person, money or assets to which any holders of Senior Debt of such Guarantor shall be entitled by virtue of this Article XII or otherwise.

Appears in 2 contracts

Samples: Indenture (Harborside Healthcare Corp), Indenture (Harborside Healthcare Corp)

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Trustee Not Fiduciary for Holders. of the Guarantor's Senior Debt of a ----------------------------------------------------- GuarantorDebt. The Trustee shall not be deemed to owe any fiduciary or other duty --------- to the holders of the Guarantor's Senior Debt of a Guarantor and shall not be liable to any such holders or creditors if it shall mistakenly in good faith pay over or distribute to Securityholders Noteholders or to the relevant Guarantor or to any other PersonPerson cash, money property or assets securities to which any holders of the Guarantor's Senior Debt of such Guarantor shall be entitled by virtue of this Article XII or otherwise.

Appears in 1 contract

Samples: First Supplemental Indenture (Abn Amro Bank Nv)

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Trustee Not Fiduciary for Holders. of Senior Debt Indebtedness of a ----------------------------------------------------- GuarantorGuarantor . The Trustee shall not be deemed to owe any fiduciary or other duty --------- to the holders of Senior Debt Indebtedness of a Guarantor and shall not be liable to any such holders if it shall mistakenly pay over or distribute to Securityholders the Holders or the relevant Guarantor or any other Person, money or assets to which any holders of Senior Debt Indebtedness of such Guarantor shall be entitled by virtue of this Article XII 12 or otherwise.

Appears in 1 contract

Samples: Indenture (Berry Plastics Holding Corp)

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