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 X with respect to any Senior Debt of the Company 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 of the Company, 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 of the Company, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article X, and no implied covenants or obligations with respect to the holders of Senior Debt of the Company 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 of the Company (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 Company or to any other Person cash, property or securities to which any holders of Senior Debt of the Company shall be entitled by virtue of this Article X or otherwise.

Appears in 2 contracts

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

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Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article X with respect to any Senior Debt of the Company 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 of the CompanyDebt, 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 of the CompanyDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article X10, and no implied covenants or obligations with respect to the holders of Senior Debt of the Company 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 of and the Company (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 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 Senior Subordinated Securities or to Securities, the Company or to any other Person cash, property moneys or securities assets to which any holders holder of Senior Debt of the Company shall be entitled by virtue of this Article X 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), Samsonite Holdings 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 X Ten with respect to any Senior Debt of the Company 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 of the Company, 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 of the CompanyDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XTen, and no implied covenants or obligations with respect to the holders of Senior Debt of the Company 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 of the Company (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 or on behalf of Holders of Senior Subordinated Securities or to the Company or to any other Person cash, property person money or securities assets to which any holders of Senior Debt of the Company shall be entitled by virtue of this Article X 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 Senior Debt, the distribution may be made and the notice given to their Representatives, if any.

Appears in 2 contracts

Samples: Landmark Theatre Corp, Koppers Industries 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 X with respect to any Senior Debt of the Company 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 of the CompanyDebt, 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 of the CompanyDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article X10, and no implied covenants or obligations with respect to the holders of Senior Debt of the Company 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 of and the Company (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 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 Senior Subordinated Securities or to Securities, the Company or to any other Person cash, property moneys or securities assets to which any holders holder of Senior Debt of the Company shall be entitled by virtue of this Article X 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: Samsonite Holdings Inc, Samsonite Corp/Fl

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 X 11 with respect to any Senior Debt of the Company 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 of the Company, 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 of the CompanyDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article X11, and no implied covenants or obligations with respect to the holders of Senior Debt of the Company 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 of and the Company (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 holder of Senior Debt if the Trustee it shall in good faith mistakenly pay over or distribute deliver to Holders of Senior Subordinated Securities Holders, such Guarantor or to the Company or to any other Person cash, property person moneys or securities assets to which any holders holder of Senior Debt of the Company shall be entitled by virtue of this Article X 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: Supplemental Indenture (Ifco Systems Nv)

Trustee's Relation to Senior Debt. The Trustee Trustee, the Agents and any Paying other Agent shall be entitled to all the rights set forth in this Article X Eight with respect to any Senior Debt of the Company Issuers which may at any time be held by it in its individual 63 -56- or any other capacity to the same extent as any other holder of Senior Debt of the Companyan Issuer, and nothing in this Indenture shall deprive the Trustee Trustee, the Agents or any Paying other Agent of any of its rights as such holder. With respect to the holders of Senior Debt of the Companyan Issuer, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XEight, and no implied covenants or obligations with respect to the holders of Senior Debt of the Company Issuers 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 of the Company (except as provided in Section 10.02 and Section 10.03(b), subject to Section 10.06)Issuers. 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 Company Issuers or to any other Person person cash, property or securities to which any holders of Senior Debt of the Company Issuers shall be entitled by virtue of this Article X Eight or otherwise.

Appears in 1 contract

Samples: Indenture (GPPW 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 X 12 with respect to any Senior Debt of the Company 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 of the Company, 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 of the CompanyDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article X12, and no implied covenants or obligations with respect to the holders of Senior Debt of the Company 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 of and the Company (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 holder of Senior Debt if the Trustee it shall in good faith mistakenly pay over or distribute deliver to Holders of Senior Subordinated Securities Holders, the Com- pany or to the Company or to any other Person cash, property person moneys or securities assets to which any holders holder of Senior Debt of the Company shall be entitled by virtue of this Article X 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: Supplemental Indenture (Ifco Systems Nv)

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Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article X 10 with respect to any Senior Debt of the Company 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 of the CompanyDebt, 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 of the CompanyDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article X10, and no implied covenants or obligations with respect to the holders of Senior Debt of the Company 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 of the Company (except as provided in Section 10.02 and Section 10.03(b), subject to Section 10.06)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 Company or to any other Person cash, property or securities to which any holders of Senior Debt of the Company shall be entitled by virtue of this Article X 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 X Ten with respect to any Senior Debt of the Company 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 of the CompanyDebt, 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 of the CompanyDebt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XTen, and no implied covenants or obligations with respect to the holders of Senior Debt of the Company 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 of the Company (except as provided in Section 10.02 and Section 10.03(b), subject to Section 10.06)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 Company or to any other Person cash, property or securities to which any holders of Senior Debt of the Company shall be entitled by virtue of this Article X 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 X with respect to any Senior Debt of the Company 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 Debt of the CompanyCadmus, 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 of the CompanyCadmus, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article X, and no implied covenants or obligations with respect to the holders of Senior Debt of the Company 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 Debt of the Company 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 Company Cadmus or to any other Person cash, property or securities to which any holders of Senior Debt of the Company Cadmus shall be entitled by virtue of this Article X or otherwise.

Appears in 1 contract

Samples: Indenture (Cadmus Communications Corp/New)

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