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

Trustee's Relation to Senior Indebtedness. (a) The Trustee in its individual capacity will be entitled to all the rights set forth in this Article 16 in respect of any Senior Indebtedness at any time held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in Section 9.03 or elsewhere in this Indenture will deprive the Trustee of any of its rights as such holder. (b) 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 16, and no implied covenants or obligations with respect to the holders of Senior Indebtedness will be read into this Indenture against the Trustee. The Trustee will not owe any fiduciary duty to the holders of Senior Indebtedness but will have only such obligations to such holders as are expressly set forth in this Article 16.

Appears in 4 contracts

Sources: Subordinated Indenture (U S Home Corp /De/), Senior Subordinated Indenture (U S Home Corp /De/), Senior Subordinated Indenture (U S Home Corp /De/)

Trustee's Relation to Senior Indebtedness. (a) The Trustee in its individual capacity will shall be entitled to all the rights set forth in this Article 16 Four in respect of any Senior Indebtedness at any time held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in Section 9.03 8.13 or elsewhere in this Indenture will shall deprive the Trustee of any of its rights as such holder. (b) . 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 16Four, and no implied covenants or obligations with respect to the holders of Senior Indebtedness will shall be read into this Indenture against the Trustee. The Trustee will shall not owe any fiduciary duty to the holders of Senior Indebtedness Indebtedness, but will shall have only such obligations to such holders as are expressly set forth in this Article 16Four.

Appears in 1 contract

Sources: Indenture (Schuler Holdings Inc)