Common use of Effectuation of Subordination by Trustee Clause in Contracts

Effectuation of Subordination by Trustee. Each holder of Securities (or any Coupons appertaining thereto), by his acceptance thereof, authorizes and directs the Trustee in his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article XV and appoints the Trustee his attorney-in-fact for any and all such purposes. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and, 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 XV, and no implied covenants or obligations with respect to the holders of Senior Debt shall be read into this Indenture against the Trustee. Subject to the provisions of Section 6.1, the Trustee shall not be liable to any holder of Senior Debt if it shall mistakenly pay over or deliver to holders of Securities (or any Coupons appertaining thereto), the Company or any other person moneys or assets to which any holder of Senior Debt shall be entitled by virtue of this Article XV or otherwise.

Effectuation of Subordination by Trustee. Each holder of Securities (or any Coupons appertaining thereto), by his acceptance thereof, authorizes and directs the Trustee in his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article XV and appoints the Trustee his attorney-in-fact for any and all such purposes. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and, 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 50 52 specifically set forth in this Article XV, and no implied covenants or obligations with respect to the holders of Senior Debt shall be read into this Indenture against the Trustee. Subject to the provisions of Section 6.1, the Trustee shall not be liable to any holder of Senior Debt if it shall mistakenly pay over or deliver to holders of Securities (or any Coupons appertaining thereto), the Company or any other person moneys or assets to which any holder of Senior Debt shall be entitled by virtue of this Article XV or otherwise.

Effectuation of Subordination by Trustee. Each holder of Securities (or any Coupons appertaining thereto), by his acceptance thereof, authorizes and directs the Trustee in his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article XV and appoints the Trustee his attorney-in-fact for any and all such purposes. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and, 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 XV, and no implied covenants or obligations with respect to the holders of Senior Debt shall be read into this Indenture against the Trustee. Subject to the provisions of Section 6.1601, the Trustee shall not be liable to any holder of Senior Debt if it shall mistakenly pay over or deliver to holders of Securities (or any Coupons appertaining thereto), the Company or any other person moneys or assets to which any holder of Senior Debt shall be entitled by virtue of this Article XV or otherwise.