Common use of Trustee's Relation to Guarantor Senior Debt Clause in Contracts

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article XII with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Guarantor Senior Debt of the Guarantors, and nothing in this Indenture shall deprive the Trustee or any Paying Agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the Guarantors, the Trustee undertakes to perform or to 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 Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Senior Subordinated Securities or to the Guarantors or to any other Person cash, property or securities to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII or otherwise.

Appears in 3 contracts

Samples: Indenture (Cadmus Communications Corp/New), Indenture (Cadmus Communications Corp/New), Indenture (Cadmus Communications Corp/New)

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Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent agent of any Guarantor or the Trustee shall be entitled to all the rights set forth in this Article XII Eleven with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Guarantor Senior Debt of the Guarantors, and nothing in this Indenture shall deprive the Trustee or any Paying Agent such agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the GuarantorsDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XIIEleven, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to or on behalf of Holders of Senior Subordinated Securities or to the Guarantors any such Guarantor or to any other Person cash, property person money or securities assets to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII Article, except if such payment is made as a result of willful misconduct or otherwisegross negligence of the Trustee. Whenever a distribution is to be made or a notice given to holders or owners of Guarantor Senior Debt, the distribution may be made and the notice given to their Representatives, if any.

Appears in 3 contracts

Samples: Indenture (Air Rental Supply Inc), Neff Corp, Landmark Theatre Corp

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent shall be entitled enticed to all the rights set forth in this Article XII 12 with respect to any Guarantor Senior Debt of the Guarantors a Guarantor which may at any time be held by it them in its their individual or any other capacity to the same extent as any other holder of Guarantor Senior Debt of the Guarantorsa Guarantor, and nothing in this Indenture shall deprive the Trustee or any Paying Agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the Guarantorsa Guarantor, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XII12, and no implied covenants or obligations with respect to the holders of Guarantor such Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06)a Guarantor. The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Senior Subordinated Securities Notes or to the Guarantors Issuers or to any other Person person cash, property or securities to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII 12 or otherwise.

Appears in 2 contracts

Samples: Alliance Laundry Holdings LLC, Alliance Laundry Holdings LLC

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article XII Twelve with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Guarantor Senior Debt of the GuarantorsDebt, and nothing in this Indenture shall deprive the Trustee or any Paying Agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the GuarantorsDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XIITwelve, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Senior Subordinated Securities or to the Guarantors Company or to any other Person person cash, property or securities to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII Twelve or otherwise.

Appears in 1 contract

Samples: Autotote Corp

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent agent of the Guarantor or the Trustee shall be entitled to all the rights set forth in this Article XII 12 with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of the Guarantor Senior Debt of the Guarantors, and nothing in this Indenture shall deprive the Trustee or any Paying Agent such agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the Guarantors, the Trustee undertakes to perform or to observe only such of its covenants holder and obligations as are specifically set forth in this Article XII, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Senior Subordinated Securities or to the Guarantors Company or to any other Person person cash, property or securities to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII 12 or otherwise. With respect to the holders of Guarantor Senior Debt, the Trustee undertakes to perform or to observe only such of its duties, covenants, responsibilities and obligations as are specifically set forth in this Article 12, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary or other duty to the holders of Guarantor Senior Debt. Whenever a distribution is to be made or a notice given to holders or owners of Guarantor Senior Debt, the dis- tribution may be made and the notice may be given to their Representative, if any.

Appears in 1 contract

Samples: Ackerley Group Inc

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent agent of a Guarantor or the Trustee shall be entitled to all the rights set forth in this Article XII Twelve with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Guarantor Senior Debt of the Guarantors, and nothing in this Indenture shall deprive the Trustee or any Paying Agent such agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the GuarantorsDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XIITwelve, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Senior Subordinated Securities or to the Guarantors Company or to any other Person person cash, property or securities to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII Twelve or otherwise. Whenever a distribution is to be made or a notice given to holders or owners of Guarantor Senior Debt, the distribution may be made and the notice may be given to their Representative, if any.

Appears in 1 contract

Samples: Quality Distribution Inc

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent agent of the Trustee shall be entitled to all the rights set forth in this Article XII Twelve with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of such Guarantor Senior Debt of the Guarantors, and nothing in this Indenture shall deprive the Trustee or any Paying Agent such agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the GuarantorsDebt, the Trustee undertakes to perform or to observe only such of its covenants duties, covenants, responsibilities and obligations as are specifically set forth in this Article XIITwelve, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary or other duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Senior Subordinated Securities Notes or to the Guarantors Issuer or to any other Person cash, property or securities to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII Twelve or otherwise.. Whenever a distribution is to be made or a notice given to holders or owners of Guarantor Senior Debt, the distribution may be made and the notice may be given to their Representative, if any. 131 -122- ARTICLE THIRTEEN

Appears in 1 contract

Samples: Caterair International Inc /Ii/

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent agent of any Guarantor or the Trustee shall be entitled to all the rights set forth in this Article XII Eleven with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Guarantor Senior Debt of the Guarantors, and nothing in this Indenture shall deprive the Trustee or any Paying Agent such agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the GuarantorsDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XIIEleven, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to or on behalf of Holders of Senior Subordinated Securities or to the Guarantors any such Guarantor or to any other Person cash, property person money or securities assets to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article, except if such payment is made as a result of willful misconduct or gross negligence of the Trustee. Whenever a distribution is to be made or a notice given to holders or owners of Guarantor Senior Debt, the distribution may be made and the notice given to their Representatives, if any. In the event that the Trustee or any Holder receives any payment of any Obligations with respect to the Notes at a time when the Trustee or such Holder, as applicable, has actual knowledge that such payment is prohibited by Article XII 11 hereof, such payment shall be held by the Trustee or otherwisesuch Holder, in trust for the benefit of, and shall be paid forthwith over and delivered, upon written request, to, the holders of Guarantor Senior Debt as their interests may appear or their Representative under the indenture or other agreement (if any) pursuant to which Guarantor Senior Debt may have been issued, as their respective interests may appear, for application to the payment of all Obligations with respect to Guarantor Senior Debt remaining unpaid to the extent necessary to pay such Obligations in full in cash in accordance with their terms, after giving effect to any concurrent payment or distribution to or for the holders of Guarantor Senior Debt.

Appears in 1 contract

Samples: Nationsrent Inc

Trustee's Relation to Guarantor Senior Debt. The Trustee Trustee, any Agent and any Paying agent of the Trustee or any Agent shall be entitled to all the rights set forth in this Article XII Twelve with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of such Guarantor Senior Debt of the Guarantors, and nothing in this Indenture shall deprive the Trustee or any Paying Agent or any of their agents of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the GuarantorsDebt, the Trustee undertakes and any Agent undertake to perform or to observe only such of its covenants their duties, covenants, responsibilities and obligations as are specifically set forth in this Article XIITwelve, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the TrusteeTrustee or any Agent. The Neither the Trustee nor any Agent shall not be deemed to owe any fiduciary or other duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee or any Agent shall in good faith mistakenly pay over or distribute to Holders of Senior Subordinated Securities or to the Guarantors Issuer or to any other Person cash, property or securities to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII Twelve or otherwise.

Appears in 1 contract

Samples: Globe Manufacturing Corp

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent agent of any Subsidiary Guarantor or the Trustee shall be entitled to all the rights set forth in this Article XII Eleven with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Guarantor Senior Debt of the Guarantors, and nothing in this Indenture shall deprive the Trustee or any Paying Agent such agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the GuarantorsDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XIIEleven, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to or on behalf of Holders of Senior Subordinated Securities or to the Guarantors any such Subsidiary Guarantor or to any other Person cash, property person money or securities assets to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII Article, except if such payment is made as a result of willful misconduct or otherwisegross negligence of the Trustee. Whenever a distribution is to be made or a notice given to holders or owners of Guarantor Senior Debt, the distribution may be made and the notice given to their Representatives, if any.

Appears in 1 contract

Samples: Koppers Industries Inc

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent agent of any Guarantor or the Trustee shall be entitled to all the rights set forth in this Article XII 12 with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Guarantor Senior Debt of the Guarantors, and nothing in this Indenture shall deprive the Trustee or any Paying Agent such agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the GuarantorsDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XII12, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 Debt, and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders or on behalf of Senior Subordinated Securities Securityholders or to the Guarantors Company or to any other Person cash, property person money or securities assets to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII 12, except if such payment is made as a result of the willful misconduct or otherwisegross negligence of the Trustee. Whenever a distribution is to be made or a notice given to holders or owners of Guarantor Senior Debt, the distribution may be made and the notice may be given to their Representative, if any.

Appears in 1 contract

Samples: Indenture (Panolam Industries International Inc)

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Trustee's Relation to Guarantor Senior Debt. The Trustee Trustee, any Agent and any Paying agent of the Trustee or any Agent shall be entitled to all the rights set forth in this Article XII Twelve with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of such Guarantor Senior Debt of the Guarantors, and nothing in this Indenture shall deprive the Trustee or any Paying Agent or any of their agents of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the GuarantorsDebt, the Trustee undertakes and any Agent undertake to perform or to observe only such of its covenants their duties, covenants, responsibilities and obligations as are specifically set forth in this Article XIITwelve, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the TrusteeTrustee or any Agent. The Neither the Trustee nor any Agent shall not be deemed to owe any fiduciary or other duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee or any Agent shall in good faith mistakenly pay over or distribute to Holders of Senior Subordinated Securities or to the Guarantors Issuer or to any other Person cash, property or securities to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII Twelve or otherwise. Whenever a distribution is to be made or a notice given to holders or owners of Guarantor Senior Debt, the distribution may be made and the notice may be given to their Representative, if any.

Appears in 1 contract

Samples: Kilovac International Inc

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent agent of the Guarantor or the Trustee shall be entitled to all the rights set forth in this Article XII 12 with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of the Guarantor Senior Debt of the Guarantors, and nothing in this Indenture shall deprive the Trustee or any Paying Agent such agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the Guarantors, the Trustee undertakes to perform or to observe only such of its covenants holder and obligations as are specifically set forth in this Article XII, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Senior Subordinated Securities or to the Guarantors Company or to any other Person person cash, property or securities to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII 12 or otherwise. With respect to the holders of Guarantor Senior Debt, the Trustee undertakes to perform or to observe only such of its duties, covenants, responsibilities and obligations as are specifically set forth in this Article 12, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary or other duty to the holders of Guarantor Senior Debt. Whenever a distribution is to be made or a notice given to holders or owners of Guarantor Senior Debt, the distribution may be made and the notice may be given to their Representative, if any.

Appears in 1 contract

Samples: Ackerley Group Inc

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent agent of any Guarantor or the Trustee shall be entitled to all the rights set forth in this Article XII with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Guarantor Senior Debt of the Guarantors, and nothing in this Indenture shall deprive the Trustee or any Paying Agent such agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the GuarantorsDebt, the Trustee undertakes to perform or to 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 Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to or on behalf of Holders of Senior Subordinated Securities or to the Guarantors any such Guarantor or to any other Person cash, property person money or securities assets to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII Article, except if such payment is made as a result of willful misconduct or otherwisegross negligence of the Trustee. Whenever a distribution is to be made or a notice given to holders or owners of Guarantor Senior Debt, the distribution may be made and the notice given to their Representatives, if any.

Appears in 1 contract

Samples: Hanger Orthopedic Group Inc

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article XII with respect to any Guarantor Senior Debt of the Guarantors a Guarantor which may at any time be held by it them in its their individual or any other capacity to the same extent as any other holder of Guarantor Senior Debt of the Guarantorsa Guarantor, and nothing in this Indenture shall deprive the Trustee or any Paying Agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the Guarantorsa Guarantor, the Trustee undertakes to perform or to 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 Guarantor such Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06)a Guarantor. The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Senior Subordinated Securities Notes or to the Guarantors Company or to any other Person person cash, property or securities to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII or otherwise. SUBORDINATION RIGHTS NOT IMPAIRED BY ACTS OR OMISSIONS OF THE GUARANTORS OR HOLDERS OF SENIOR DEBT No right of any present or future holders of any Senior Debt of a Guarantor to enforce subordination as provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of any Guarantor or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by any Guarantor with the terms of this Indenture, regardless of any knowledge thereof which any such holder may have or otherwise be charged with. The provisions of this Article XII are intended to be for the benefit of, and shall be enforceable directly by, the holders of Senior Debt of a Guarantor.

Appears in 1 contract

Samples: Salton Inc

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent agent of any Guarantor or the Trustee shall be entitled to all the rights set forth in this Article XII Eleven with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Guarantor Senior Debt of the Guarantors, and nothing in this Indenture shall deprive the Trustee or any Paying Agent such agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the GuarantorsDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XIIEleven, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06). The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to or on behalf of Holders of Senior Subordinated Securities or to the Guarantors any such Guarantor or to any other Person cash, property person money or securities assets to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII Eleven, except if such payment is made as a result of willful misconduct or otherwisegross negligence of the Trustee. Whenever a distribution is to be made or a notice given to holders or owners of Guarantor Senior Debt, the distribution may be made and the notice given to their Representatives, if any.

Appears in 1 contract

Samples: Outsourcing Services (Aerosol Services Co Inc)

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article XII Twelve with respect to any Guarantor Senior Debt of the Guarantors which may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Guarantor Senior Debt of the GuarantorsDebt, and nothing in this Indenture shall deprive the Trustee or any Paying Agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the GuarantorsDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XIITwelve, and no implied covenants or obligations with respect to the holders of Guarantor Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06)Debt. The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Senior Subordinated Securities or to the Guarantors Company or to any other Person cash, property or securities to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII Twelve or otherwise.

Appears in 1 contract

Samples: Indenture (Scientific Games Corp)

Trustee's Relation to Guarantor Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article XII 12 with respect to any Guarantor Senior Debt of the Guarantors a Guarantor which may at any time be held by it them in its their individual or any other capacity to the same extent as any other holder of Guarantor Senior Debt of the Guarantorsa Guarantor, and nothing in this Indenture shall deprive the Trustee or any Paying Agent of any of its rights as such holder. With respect to the holders of Guarantor Senior Debt of the Guarantorsa Guarantor, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XII12, and no implied covenants or obligations with respect to the holders of Guarantor such Senior Debt of the Guarantors shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Guarantor Senior Debt of the Guarantors (except as provided in Section 12.02 and Section 12.03(b), subject to Section 12.06)a Guarantor. The Trustee shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Senior Subordinated Securities Notes or to the Guarantors Company or to any other Person person cash, property or securities to which any holders of Guarantor Senior Debt of any Guarantor shall be entitled by virtue of this Article XII 12 or otherwise.

Appears in 1 contract

Samples: Indenture (Salton Maxim Housewares Inc)

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