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 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, 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 (except as provided in Section 8.03(b)). The Trustee shall not be charged with knowledge of the existence of Senior Debt or of any facts that would prohibit any payment hereunder unless the Trustee shall have received notice to that effect at the address of the Trustee set forth in Section 13.02.

Appears in 2 contracts

Samples: Indenture (United Auto Group Inc), United Auto Group Inc

AutoNDA by SimpleDocs

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 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, 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 (except as provided in Section 8.03(b)). The Trustee shall not be charged with knowledge of the existence of Senior Debt or of any facts that would prohibit any payment hereunder unless the Trustee shall have received written notice to that effect at the address of the Trustee set forth in Section 13.02.

Appears in 2 contracts

Samples: Triton PCS Holdings Inc, Triton PCS 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 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 de- prive 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, 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 (except as provided in Section 8.03(b)). The Trustee shall not be charged with knowledge of the existence of Senior Debt or of any facts that would prohibit any payment hereunder unless the Trustee shall have received written notice to that effect at the address of the Trustee set forth in Section 13.02.

Appears in 1 contract

Samples: Triton PCS 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 such 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 any Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this ArticleArticle 10, and no implied covenants or obligations with respect to the holders of such Senior Debt shall be read into this Supplemental Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of any Senior Debt (except as provided in Section 8.03(b10.02(b)). The Trustee shall not be charged with knowledge of the existence of any Senior Debt or of any facts that would prohibit any payment hereunder unless the Trustee shall have received written notice to that effect at the address of the Trustee set forth in Section 13.0211.01 of the Indenture.

Appears in 1 contract

Samples: Puerto Rico Stock Purchase Agreement (Telecorp PCS 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 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 ArticleArticle Seven, 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 Debt (except as provided in Section 8.03(b)703(b) of this First Supplemental Indenture). The Trustee shall not be charged with knowledge liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Notes or to the existence 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 Seven or of any facts that would prohibit any payment hereunder unless the Trustee shall have received notice to that effect at the address of the Trustee set forth in Section 13.02otherwise.

Appears in 1 contract

Samples: 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 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 ArticleArticle VIII, 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 (except as provided in Section 8.03(b)). The Trustee shall not be charged with knowledge liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Notes or to the existence 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 VIII or of any facts that would prohibit any payment hereunder unless the Trustee shall have received notice to that effect at the address of the Trustee set forth in Section 13.02otherwise.

Appears in 1 contract

Samples: Indenture (Qwest Communications International Inc)

AutoNDA by SimpleDocs

Trustee's Relation to Senior Debt. The Trustee and any Paying Agent shall be entitled to all the rights set forth in this Article 6 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 such 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 any Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this ArticleArticle 6, and no implied covenants or obligations with respect to the holders of such Senior Debt shall be read into this Supplemental Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of any Senior Debt (except as provided in Section 8.03(b6.02(b)). The Trustee shall not be charged with knowledge of the existence of any Senior Debt or of any facts that would prohibit any payment hereunder unless the Trustee shall have received written notice to that effect at the address of the Trustee set forth in Section 13.0211.01 of the Indenture.

Appears in 1 contract

Samples: Puerto Rico Stock Purchase Agreement (Telecorp PCS 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 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, 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 (except as provided in Section 8.03(bSections 8.02(b) and 8.03)(b)). The Trustee shall not be charged with knowledge liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Securities or to the existence 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 or of any facts that would prohibit any payment hereunder unless the Trustee shall have received notice to that effect at the address of the Trustee set forth in Section 13.02otherwise.

Appears in 1 contract

Samples: Aep 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 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 ArticleArticle Ten, 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 (except as provided in Section 8.03(b10.03(b)). The Trustee shall not be charged with knowledge liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Securities or to the existence 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 Ten or of any facts that would prohibit any payment hereunder unless the Trustee shall have received notice to that effect at the address of the Trustee set forth in Section 13.02otherwise.

Appears in 1 contract

Samples: Autotote Corp

Time is Money Join Law Insider Premium to draft better contracts faster.