Trustee Has No Fiduciary Duty to Holders of Senior Indebtedness. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform only such obligations on the part of the Trustee as are specifically set forth in this Article, and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of the Senior Indebtedness. The Trustee shall not be liable to any holder of Senior Indebtedness if the Trustee shall mistakenly, but in good faith, pay over or transfer to Holders, the Company or any other Person money or assets to which any holder of Senior Indebtedness shall be entitled by virtue of this Article.
Appears in 2 contracts
Sources: Senior Subordinated Indenture (Century Communications Corp), Subordinated Indenture (Century Communications Corp)