Common use of Trustee Not Fiduciary for Holders of Senior Debt Clause in Contracts

Trustee Not Fiduciary for Holders of Senior Debt. 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 it shall mistakenly pay over or distribute to Holders or the Company or any other Person, money or assets to which any holders of Senior Debt shall be entitled by virtue of this Article 11 or otherwise.

Appears in 2 contracts

Sources: Senior Subordinated Indenture (TOUSA Investment #1, Inc.), Subordinated Indenture (TOUSA Investment #1, Inc.)

Trustee Not Fiduciary for Holders of Senior Debt. The Trustee shall not be deemed to owe own any fiduciary duty to the holders of Senior Debt and and, subject to the provisions of Article Six, the Trustee shall not be liable to any such holders holder of Senior Debt if it shall in good faith mistakenly pay over or distribute deliver to Holders or holders of Securities, the Company or any other Person, person money or assets to which any holders holder of Senior Debt shall be entitled by virtue of this Article 11 Fourteen or otherwise.

Appears in 2 contracts

Sources: Indenture (Pinnacle West Capital Corp), Indenture (Pinnacle West Capital Corp)

Trustee Not Fiduciary for Holders of Senior Debt. 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 it shall mistakenly pay over or distribute to Holders or the Company or any other Person, money or assets to which any holders of Senior Debt shall be entitled by virtue of this Article 11 or otherwise.

Appears in 2 contracts

Sources: Indenture (Tousa Delaware Inc), Indenture (Technical Olympic Usa Inc)

Trustee Not Fiduciary for Holders of Senior Debt. 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 it shall mistakenly pay over or distribute to Holders or the Company or any other Person, money or assets to which any holders of Senior Debt shall be entitled by virtue of this Article 11 or otherwise, except if such mistake was the result of the Trustee's gross negligence or willful misconduct.

Appears in 1 contract

Sources: Indenture (S&c Resale Co)

Trustee Not Fiduciary for Holders of Senior Debt. 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 it shall mistakenly pay over or distribute to Holders or the Company SFC or any other Person, money or assets to which any holders of Senior Debt shall be entitled by virtue of this Article 11 or otherwise, except if such mistake was the result of the Trustee's gross negligence or willful misconduct.

Appears in 1 contract

Sources: Indenture (S&c Holdco 3 Inc)

Trustee Not Fiduciary for Holders of Senior Debt. 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 it shall in good faith mistakenly pay over or distribute to Holders or to the Company or to any other PersonPerson cash, money property or assets securities to which any holders of Senior Debt shall be entitled by virtue of this Article 11 or otherwise.

Appears in 1 contract

Sources: Indenture (Community Health Systems Inc/)

Trustee Not Fiduciary for Holders of Senior Debt. The Trustee Trustee, in its capacity as trustee under this Indenture, shall not owe or be deemed to owe any fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders if it shall in good faith mistakenly pay over or distribute to Holders of Securities or to the Company or to any other PersonPerson cash, money property or assets securities to which any holders of Senior Debt shall be entitled by virtue of this Article 11 ARTICLE XII or otherwise.

Appears in 1 contract

Sources: Junior Subordinated Indenture (Uici)

Trustee Not Fiduciary for Holders of Senior Debt. The Trustee Trustee, in its capacity as trustee under this Indenture, 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 it shall in good faith mistakenly pay over or distribute to Holders of Debentures or to the Company or to any other PersonPerson cash, money property or assets securities to which any holders of Senior Debt shall be entitled by virtue of this Article 11 or otherwise.

Appears in 1 contract

Sources: Junior Subordinated Indenture (Vib Corp)

Trustee Not Fiduciary for Holders of Senior Debt. 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 it shall mistakenly in good faith pay over or distribute to Holders or the Note Holders, to the Company or to any other PersonPerson cash, money property or assets securities to which any holders of Senior Debt shall be entitled by virtue of this Article 11 or otherwise.

Appears in 1 contract

Sources: Indenture (Berthel Fisher & Co Leasing Inc)

Trustee Not Fiduciary for Holders of Senior Debt. 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 it shall mistakenly pay over or distribute to Holders Holders, the Company or the Company Subsidiary Guarantors or any other Person, money or assets to which any holders of Senior Debt shall be entitled by virtue of this Article 11 12 or otherwise, except if such mistake was the result of the Trustee's gross negligence or willful misconduct.

Appears in 1 contract

Sources: Indenture (Villa Pines Care LLC)