Common use of Bond Insurance Clause in Contracts

Bond Insurance. No bond or other security shall be required of the Trustee or any successors. However, the Trustees are authorized to obtain such bond as may be required by regulation or a court of competent jurisdiction or other action of the appropriate state or local government agency. The Trustees may purchase liability insurance covering claims arising from their services as Trustee hereunder. The premiums for any such bond or insurance coverage shall be charged as a general expense of the Trust.

Bond Insurance. 12.1 No bond or other security shall be required of the Trustee or any successors. However, the Trustees are authorized to obtain such bond as may be required by regulation or a court of competent jurisdiction or other action of the appropriate state or local government agency. The Trustees may purchase liability insurance covering claims arising from their services as Trustee hereunder. The premiums for any such bond or insurance coverage shall be charged as a general expense of the Trust.