Contracts and Instruments; How Executed. The Sponsor may authorize any officer or officers, agent or agents, to enter into any contract or execute any instrument in the name of and on behalf of the Trust and this authority may be general or confined to specific instances; and unless so authorized or ratified by the Sponsor or within the agency power of an officer, no officer, agent, or employee shall have any power or authority to bind the Trust by any contract or engagement or to pledge its credit or to render it liable for any purpose or for any amount.
Appears in 16 contracts
Samples: Trust Agreement, Trust Agreement (Vs Trust), Trust Agreement (Dynamic Shares Trust)
Contracts and Instruments; How Executed. The Sponsor may authorize any officer or officers, or agent or agents, to enter into any contract or execute any instrument in the name of and on behalf of the Trust and this authority may be general or confined to specific instances; and unless so authorized or ratified by the Sponsor or within the agency power of an officer, no officer, agent, or employee shall have any power or authority to bind the Trust by any contract or engagement or to pledge its credit or to render it liable for any purpose or for any amount.
Appears in 3 contracts
Samples: Trust Agreement (AccuShares Trust I), Trust Agreement (AccuShares Commodities Trust I), Trust Agreement (AccuShares Commodities Trust I)