Common use of Business Trust Clause in Contracts

Business Trust. With respect to any Fund that is organized as a business trust (Trust), LMFA, LMPFA and the Adviser are hereby expressly put on notice of the limitation of shareholder liability as set forth in the Declaration of Trust of the Trust and agree that obligations assumed by the Trust or each Fund pursuant to this Agreement shall be limited in all cases to the Trust or that Fund and its respective assets. LMFA, LMPFA, and each Adviser agree that they shall not seek satisfaction of any such obligation from the shareholders or any individual shareholder of the Trust, nor from the Trustees or any individual Trustee of the Trust.

Business Trust. With respect to any Fund Investment Company that is organized as a business trust (“Trust”), LMFA, LMFA and LMPFA and the Adviser are hereby expressly put on notice of the limitation of shareholder liability as set forth in the Declaration of Trust of the Trust and agree that obligations assumed by the Trust or each Fund pursuant to this Agreement shall be limited in all cases to the Trust or that Fund and its respective assets. LMFA, LMPFA, LMFA and each Adviser LMPFA agree that they shall not seek satisfaction of any such obligation from the shareholders or any individual shareholder of the Trust, nor from the Trustees or any individual Trustee of the Trust.

Business Trust. With respect to any Fund that is organized as a business trust (“Trust”), LMFA, LMPFA and the Adviser are hereby expressly put on notice of the limitation of shareholder liability as set forth in the Declaration of Trust of the Trust and agree that obligations assumed by the Trust or each Fund pursuant to this Agreement shall be limited in all cases to the Trust or that Fund and its respective assets. LMFA, LMPFA, and each Adviser agree that they shall not seek satisfaction of any such obligation from the shareholders or any individual shareholder of the Trust, nor from the Trustees or any individual Trustee of the Trust.

Business Trust. With respect to any Fund Investment Company that is organized as a business trust (Trust), LMFA, LMFA and LMPFA and the Adviser are hereby expressly put on notice of the limitation of shareholder liability as set forth in the Declaration of Trust of the Trust and agree that obligations assumed by the Trust or each Fund pursuant to this Agreement shall be limited in all cases to the Trust or that Fund and its respective assets. LMFA, LMPFA, LMFA and each Adviser LMPFA agree that they shall not seek satisfaction of any such obligation from the shareholders or any individual shareholder of the Trust, nor from the Trustees or any individual Trustee of the Trust.