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

Trustee's Relation to Senior Indebtedness. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article Thirteen, and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Article Thirteen against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and the Trustee shall not be liable to any holder of Senior Indebtedness if it shall in good faith mistakenly (absent willful misconduct) pay over or deliver to Holders, the Company or any other Person moneys or assets to which any holder of Senior Indebtedness shall be entitled by virtue of this Article Thirteen or otherwise. ARTICLE FOURTEEN

Appears in 1 contract

Samples: Brooks Pharmacy, Inc.

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Trustee's Relation to Senior Indebtedness. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article ThirteenEleven (and in Article Ten with respect to any Guarantor Senior Indebtedness), and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Article Thirteen Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and the Trustee shall not be liable to any holder of Senior Indebtedness if it shall in good faith mistakenly (absent willful misconduct) pay over or deliver to Holders, the Company Company, any Note Guarantor or any other Person moneys or assets to which any holder of Senior Indebtedness shall be entitled by virtue of this Article Thirteen Eleven or otherwise. ARTICLE FOURTEEN.

Appears in 1 contract

Samples: Mettler Toledo Holding Inc

Trustee's Relation to Senior Indebtedness. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article Thirteen10, and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Article Thirteen Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and the Trustee shall not be liable to any holder of Senior Indebtedness if it shall shall, in good faith faith, mistakenly (absent willful misconduct) pay over or deliver to Holders, the Company or any other Person person moneys or assets to which any holder of Senior Indebtedness shall be entitled by virtue of this Article Thirteen 10 or otherwise. ARTICLE FOURTEENotherwise (although such mistaken payment shall not otherwise affect the subordination provisions of this Article 10).

Appears in 1 contract

Samples: Rose Hills Co

Trustee's Relation to Senior Indebtedness. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article Thirteen10, and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Article Thirteen 10 against the TrusteeTrustee or shall otherwise be deemed to exist. The Trustee shall not be deemed to owe any fiduciary or other duty to the holders of Senior Indebtedness and the Trustee shall not be liable to any holder of Senior Indebtedness if it shall in good faith mistakenly (absent willful misconduct) pay over or deliver to Holders, the Company or any other Person moneys or assets to which any holder of Senior Indebtedness 72 80 shall be entitled by virtue of this Article Thirteen 10 or otherwise. ARTICLE FOURTEEN, unless such mistaken payment or delivery is made as a result of any negligent act, negligent failure to act or willful misconduct on the part of the Trustee.

Appears in 1 contract

Samples: Indenture (Associated Materials Inc)

Trustee's Relation to Senior Indebtedness. With respect to the holders of Senior IndebtednessIndebt- edness, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article ThirteenEleven (and in Article Ten with respect to any Guarantor Senior Indebtedness), and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Article Thirteen Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and the Trustee shall not be liable to any holder of Senior Indebtedness if it shall in good faith mistakenly (absent willful misconduct) pay over or deliver to Holders, the Company Company, any Note Guarantor or any other Person moneys or assets to which any holder of Senior Indebtedness shall be entitled by virtue of this Article Thirteen Eleven or otherwise. ARTICLE FOURTEENother- wise.

Appears in 1 contract

Samples: Indenture (Mettler Toledo Holding Inc)

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Trustee's Relation to Senior Indebtedness. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article ThirteenEleven (and in Article 10 with respect to any Guarantor Senior Indebtedness), and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Article Thirteen Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and the Trustee shall not be liable to any holder of Senior Indebtedness if it shall in good faith mistakenly (absent willful misconduct) pay over or deliver to Holders, the Company Company, any Note Guarantor or any other Person moneys or assets to which any holder of Senior Indebtedness shall be entitled by virtue of this Article Thirteen Eleven or otherwise. ARTICLE FOURTEENSection 11.05

Appears in 1 contract

Samples: Indenture (Telegroup Inc)

Trustee's Relation to Senior Indebtedness. With respect to the holders Holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article ThirteenFourteen (and in Article Thirteen with respect to any Guarantor Senior Indebtedness of the respective Guarantors), and no implied covenants or obligations with respect to the holders Holders of Senior Indebtedness shall be read into this Article Thirteen Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders Holders of Senior Indebtedness and the Trustee shall not be liable to any holder Holder of Senior Indebtedness if it shall in good faith mistakenly (absent willful misconduct) pay over or deliver to Holders, the Company Company, the Guarantors or any other Person person moneys or assets to which any holder Holder of Senior Indebtedness shall be entitled by virtue of this Article Thirteen Fourteen or otherwise. ARTICLE FOURTEEN.

Appears in 1 contract

Samples: Gsi Group Inc

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