Bond Trustee Liable for Negligence Sample Clauses

Bond Trustee Liable for Negligence. Section 1 of the Trustee Act 2000 shall not apply to any function of the Bond Trustee, provided that if the Bond Trustee fails to show the degree of care and diligence required of it as Bond Trustee, nothing in this Trust Deed shall relieve or indemnify it from or against any liability which would otherwise attach to it in respect of any fraud, gross negligence, or wilful default, wilful breach of duty or wilful breach of trust of which it may be guilty. 10 Bond Trustee not Precluded from Entering into Contracts The Bond Trustee and any other person, whether or not acting for itself, may acquire, hold or dispose of any Bond or other security (or any interest therein) of the Issuer or any other person, may enter into or be interested in any contract or transaction with any such person and may act on, or as depositary or agent for, any committee or body of holders of any securities of any such person in each case with the same rights as it would have had if the Bond Trustee were not acting as Bond Trustee and need not account for any profit.
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Related to Bond Trustee Liable for Negligence

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  • Misconduct Unless a Change of Control shall have occurred after the date hereof:

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