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

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 with respect to any Senior Debt 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 Senior Debt, 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 Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10, and no implied covenants or obligations with respect to the holders of Senior Debt 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 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 Securities or to the Issuer or to any other Person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article 10 or otherwise.

Appears in 4 contracts

Samples: Indenture (Scientific Games Corp), Indenture (Scientific Games Corp), Indenture (Scientific Games Corp)

Trustee's Relation to Senior Debt. The (a) Each of the Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 Fifteen with respect to any Senior Debt which that may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Senior Debt, Debt and nothing in this Indenture shall deprive the Trustee or any Paying Agent of any of its rights as such holder. . (b) With respect to the holders of Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10Fifteen, and no implied covenants or obligations with respect to the holders of Senior Debt 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 Debt. The Trustee Debt and shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Securities or to the Issuer Partnership or to any other Person person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article 10 Fifteen or otherwise.

Appears in 2 contracts

Samples: Indenture (Cheniere Energy Partners, L.P.), Indenture (Cheniere Energy Partners, L.P.)

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 with respect to any Senior Debt 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 Senior Debt, 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 Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10, and no implied covenants or obligations with respect to the holders of Senior Debt 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 Debt. The Debt and the Trustee shall not be liable to any such holders holder of Senior Debt (other than for its willful misconduct or negligence) if the Trustee it shall in good faith mistakenly pay over or distribute deliver to the Holders of Securities Securities, the Company or to the Issuer or to any other Person cash, property moneys or securities assets to which any holders holder of Senior Debt shall be entitled by virtue of this Article 10 or otherwise. Nothing in this Section 10.04 shall affect the obligation of any other such Person, the Company, or the Holders to hold such money or assets for the benefit of, and to pay such money or assets over to, the holders of the Senior Debt or their applicable representative or representatives.

Appears in 2 contracts

Samples: Indenture (Samsonite Corp/Fl), Indenture (Samsonite Holdings Inc)

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 with respect to any Senior Debt 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 Senior Debt, 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 Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10, and no implied covenants or obligations with respect to the holders of Senior Debt 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 Debt. The Debt and the Trustee shall not be liable to any such holders holder of Senior Debt (other than for its willful misconduct or negligence) if the Trustee it shall in good faith mistakenly pay over or distribute deliver to the Holders of Securities Securities, the Company or to the Issuer or to any other Person cash, property moneys or securities assets to which any holders holder of Senior Debt shall be entitled by virtue of this Article 10 or otherwise. Nothing in this Section 10.04 shall affect the obligation of any other such Person, the Company, or the Holders to hold such money or assets for the benefit of, and to pay such money or assets over to, the holders of the Senior Debt or their applicable representative or representatives.

Appears in 2 contracts

Samples: Indenture (Samsonite Corp/Fl), Indenture (Samsonite Holdings Inc)

Trustee's Relation to Senior Debt. (a) The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 Eleven with respect to any Senior Debt which that may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Senior Debt, Debt and nothing in this Indenture shall deprive the Trustee or any Paying Agent of any of its rights as such holder. . (b) With respect to the holders of Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10Eleven, and no implied covenants or obligations with respect to the holders of Senior Debt 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 Debt. The Trustee Debt and shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Securities or to the Issuer Company or to any other Person person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article 10 Eleven or otherwise.

Appears in 2 contracts

Samples: Second Supplemental Indenture (Globalstar, Inc.), Second Supplemental Indenture (Globalstar, Inc.)

Trustee's Relation to Senior Debt. The Trustee for any series of Subordinated Securities in its individual capacity shall be entitled to be a holder of Senior Debt and any Paying Agent shall be entitled to all the rights set forth in this Article 10 with Sixteen in respect to of any Senior Debt which may at any time be held by it in its individual or any other capacity it, to the same extent as any other holder of Senior Debt, 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 Senior Debt, the Trustee for any series of Subordinated Securities undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10Sixteen, and no implied covenants or obligations with respect to the holders of Senior Debt 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 Debt. The Debt and the Trustee shall not be liable to any such holders holder of Senior Debt if the Trustee it shall in good faith mistakenly pay over or distribute deliver to Holders of Subordinated Securities of any series, or to any Coupons appertaining thereto, the Issuer or to any other Person cash, property person moneys or securities assets to which any holders holder of Senior Debt shall be entitled by virtue of this Article 10 Sixteen or otherwise.. ARTICLE SEVENTEEN

Appears in 1 contract

Samples: Indenture (Itt Corp /Nv/)

Trustee's Relation to 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 10 11 with respect to any Senior Debt 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 Senior Debt, Debt 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 Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 1011, and no implied covenants or obligations with respect to the holders of Senior Debt 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 Debt. The Debt and the Trustee shall not be liable to any such holders holder of Senior Debt if the Trustee it shall in good faith mistakenly pay over or distribute deliver to Holders of Securities Holders, such Guarantor or to the Issuer or to any other Person cash, property person moneys or securities assets to which any holders holder of Senior Debt shall be entitled by virtue of this Article 10 11 or otherwise. Nothing in this Section 11.04 shall affect the obligation of any other such person receiving such payment or distribution from the Trustee or any other Agent to hold such payment for the benefit of, and to pay such payment over to, the holders of Senior Debt.

Appears in 1 contract

Samples: Indenture (Ifco Systems Nv)

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 X with respect to any Senior Debt of Cadmus 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 Senior DebtDebt of Cadmus, 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 Senior DebtDebt of Cadmus, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10X, and no implied covenants or obligations with respect to the holders of Senior Debt of Cadmus 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 DebtDebt of Cadmus (except as provided in Section 10.02 and Section 10.03(b), subject to Section 10.06). 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 Issuer Cadmus or to any other Person cash, property or securities to which any holders of Senior Debt of Cadmus shall be entitled by virtue of this Article 10 X or otherwise.

Appears in 1 contract

Samples: Indenture (Cadmus Communications Corp/New)

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 with respect to any Senior Debt 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 Senior Debt, 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 Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10Article, and no implied covenants or obligations with respect to the holders of Senior Debt 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 DebtDebt (except as provided in Sections 8.02(b) and 8.03)(b)). 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 Securities Notes or to the Issuer or to any other Person person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article 10 or otherwise.

Appears in 1 contract

Samples: Indenture (HRM Holdings Corp)

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 Ten with respect to any Senior Debt 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 Senior Debt, 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 Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10Ten, and no implied covenants or obligations with respect to the holders of Senior Debt 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 DebtDebt (except as provided in Section 10.03(b)). 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 Securities or to the Issuer Company or to any other Person person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article 10 Ten or otherwise.

Appears in 1 contract

Samples: Indenture (Autotote Corp)

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 Ten with respect to any Senior Debt 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 Senior Debt, 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 Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10Ten, and no implied covenants or obligations with respect to the holders of Senior Debt 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 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 Securities or to the Issuer Company or to any other Person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article 10 Ten or otherwise.

Appears in 1 contract

Samples: Indenture (Scientific Games Corp)

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 Seven with respect to any Senior Debt 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 Senior Debt, and nothing in this the Indenture shall deprive the Trustee or any Paying Agent of any of its rights as such holder. With respect to the holders of Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10Seven, and no implied covenants or obligations with respect to the holders of Senior Debt shall be read into this the Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior DebtDebt (except as provided in Section 703(b) of this First Supplemental Indenture). 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 Securities Notes or to the Issuer Company or to any other Person person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article 10 Seven or otherwise.

Appears in 1 contract

Samples: First Supplemental Indenture (Biovail Corp International)

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 with respect to any Senior Debt 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 Senior Debt, 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 Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10, and no implied covenants or obligations with respect to the holders of Senior Debt 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 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 Securities or to the Issuer Company or to any other Person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article 10 or otherwise.

Appears in 1 contract

Samples: Indenture (Scientific Games Corp)

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 with respect to any Senior Debt 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 Senior Debt, 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 Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10Article, and no implied covenants or obligations with respect to the holders of Senior Debt 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 DebtDebt (except as provided in Sections 8.02(b) and 8.03)(b)). 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 Securities or to the Issuer Company or to any other Person person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article 10 or otherwise.

Appears in 1 contract

Samples: Indenture (Aep Industries Inc)

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent agent of the Company or the Trustee shall be entitled to all the rights set forth in this Article 10 12 with respect to any Senior Debt 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 Senior Debt, Debt 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 Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 1012, and no implied covenants or obligations with respect to the holders of Senior Debt 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 Debt. The Debt and the Trustee shall not be liable to any such holders holder of Senior Debt if the Trustee it shall in good faith mistakenly pay over or distribute deliver to Holders of Securities Holders, the Com- pany or to the Issuer or to any other Person cash, property person moneys or securities assets to which any holders holder of Senior Debt shall be entitled by virtue of this Article 10 12 or otherwise. Nothing in this Section 12.04 shall affect the obligation of any other such person receiving such payment or distribution from the Trustee or any other Agent to hold such payment for the benefit of, and to pay such payment over to, the holders of Senior Debt.

Appears in 1 contract

Samples: Indenture (Ifco Systems Nv)

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 VIII with respect to any Senior Debt 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 Senior Debt, 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 Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10VIII, and no implied covenants or obligations with respect to the holders of Senior Debt 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 DebtDebt (except as provided in Section 8.03(b)). 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 Securities Notes or to the Issuer Company or to any other Person person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article 10 VIII or otherwise.

Appears in 1 contract

Samples: Indenture (Qwest Communications International Inc)

Trustee's Relation to Senior Debt. (a) The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 10 IV with respect to any Senior Debt which that may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Senior Debt, Debt and nothing in this Indenture Guaranty shall deprive the Trustee or any Paying Agent of any of its rights as such holder. . (b) With respect to the holders of Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 10IV, and no implied covenants or obligations with respect to the holders of Senior Debt shall be read into this Indenture Guaranty against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt. The Trustee Debt and shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Securities or to the Issuer Company or to any other Person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article 10 IV or otherwise.

Appears in 1 contract

Samples: Fourth Supplemental Indenture (Globalstar, Inc.)