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

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 Eleven with respect to any Senior Debt 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 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 Eleven, 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 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 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 Eleven or otherwise.

Appears in 2 contracts

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

AutoNDA by SimpleDocs

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 Eleven X with respect to any Senior Debt that 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. (b) . With respect to the holders of Senior DebtDebt 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 ElevenX, 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 Person cash, property or securities to which any holders of Senior Debt of the Company shall be entitled by virtue of this Article Eleven X or otherwise.

Appears in 2 contracts

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

Trustee's Relation to Senior Debt. (a) The Each of the Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article Eleven Fifteen with respect to any Senior Debt 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 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 ElevenFifteen, 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 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 Company Partnership or to any other person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article Eleven 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. (a) The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article Eleven with respect to any Senior Debt that 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 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 Eleven10, 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 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 or to Securities, the Company 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 Eleven 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 Eleven 10 with respect to any Senior Debt that 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 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 Eleven10, 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 and 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 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 Eleven 10 or otherwise.

Appears in 1 contract

Samples: Indenture (Scientific Games Corp)

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 Eleven X with respect to any Senior Debt that 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 Debt of Cadmus, 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 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 ElevenX, 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 Debt 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 Company Cadmus or to any other person Person cash, property or securities to which any holders of Senior Debt of Cadmus shall be entitled by virtue of this Article Eleven X or otherwise.

Appears in 1 contract

Samples: Indenture (Cadmus Communications Corp/New)

AutoNDA by SimpleDocs

Trustee's Relation to Senior Debt. (a) 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 Eleven 11 with respect to any Senior Debt that 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 such 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 Eleven11, 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 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 Company 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 Eleven 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. (a) The Trustee Trustee, the Agents and any Paying other Agent shall be entitled to all the rights set forth in this Article Eleven Eight with respect to any Senior Debt that of the 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 an 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. (b) . With respect to the holders of Senior DebtDebt of an Issuer, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article ElevenEight, and no implied covenants or obligations with respect to the holders of Senior Debt of the 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 and of the 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 Securities Notes or to the Company Issuers or to any other person cash, property or securities to which any holders of Senior Debt of the Issuers shall be entitled by virtue of this Article Eleven Eight or otherwise.

Appears in 1 contract

Samples: Indenture (GPPW Inc)

Trustee's Relation to Senior Debt. (a) 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 Eleven 12 with respect to any Senior Debt that 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 such 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 Eleven12, 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 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 Company 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 Eleven 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)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!