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

Appears in 2 contracts

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

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Trustee Not Fiduciary for Holders of Senior Debt. The Trustee shall not be deemed to own owe any fiduciary duty to the holders of Senior Debt and, subject to the provisions of Article Six, the Trustee and shall not be liable to any holder of Senior Debt such holders if it shall in good faith mistakenly pay over or deliver distribute to holders of Securities, Holders or the Company or any other person Person, money or assets to which any holder holders of Senior Debt shall be entitled by virtue of this Article Fourteen 12 or otherwise, except if such mistake was the result of the Trustee's gross negligence or willful misconduct.

Appears in 2 contracts

Samples: Prestige Brands Holdings, Inc., Prestige Brands International, Inc.

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

Appears in 2 contracts

Samples: Tousa Delaware Inc, Technical Olympic Usa Inc

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

Appears in 1 contract

Samples: Monitoring and Oversight Agreement (S&c Holdco 3 Inc)

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

Appears in 1 contract

Samples: Community Health Systems Inc/

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

Appears in 1 contract

Samples: S&c Resale Co

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

Appears in 1 contract

Samples: Indenture (Berthel Fisher & Co Leasing Inc)

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

Appears in 1 contract

Samples: Indenture (Vib Corp)

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