Contracts of the Trust. The parties hereby acknowledge that in addition to entering into this Indenture on its own behalf, PEOC is entering into this Indenture on behalf of the Trust and the obligations of the Trust hereunder shall not be personally binding upon PEOC, the trustee of the Trust or any of the registered or beneficial unitholders of the Trust, or any annuitant under a plan of which a unitholder of the Trust acts as trustee or carrier, and resort shall not be had to, nor shall recourse or satisfaction be sought from, any of such persons or the private property of any such persons. Any recourse against the Trust or any of the aforementioned persons in any manner in respect of any indebtedness, obligation or liability of the Trust arising hereunder or arising in connection herewith or from the matters to which this Indenture relates, if any, including, without limitation, claims based on negligence or otherwise tortious behaviour, shall be limited to, and satisfied only out of, the Trust Fund, as defined in the trust indenture by which the Trust is established made as of August 1, 2002, as amended from time to time.
Contracts of the Trust. Every contract entered into by or on behalf of the Trust, whether by the Trustee, the Corporation or otherwise, shall (except as the Trustee or the Corporation may otherwise expressly agree in writing with respect to their own personal liability) include a provision substantially to the following effect: The parties hereto acknowledge that the [Trustee] [the Corporation] is entering into this agreement solely [in its capacity as Trustee] [on behalf of the Trust] and the obligations of the Trust hereunder shall not be personally binding upon the [Trustee] [the Corporation] or any of the Unitholders of the Trust and that any recourse against the Trust or any Unitholder in any manner in respect of any indebtedness, obligation or liability of the Trust arising hereunder or arising in connection herewith or from the matters to which this agreement relates, if any, including without limitation claims based on negligence or otherwise tortious behaviour, shall be limited to, and satisfied only out of, the Trust Fund as defined in the Trust Indenture dated as of October 24, 2003 as amended from time to time. The omission of such a provision from any such written instrument shall not operate to impose personal liability on the Trustee, the Corporation or any Unitholder.
Contracts of the Trust. The parties hereto acknowledge that the Trustee is entering into this Agreement solely in its capacity as Trustee on behalf of the Trust and the obligations of the Trust hereunder shall not be personally binding upon the Trustee or any of the unitholders of the Trust such that any recourse against the Trust, the Trustee or True or any unitholder in any manner in respect of any indebtedness, obligation or liability of the Trust arising hereunder or arising in connection herewith or from the matters to which this Agreement relates, if any, including without limitation claims based in contract, on negligence, tortious behaviour or otherwise, shall be limited to, and satisfied only out of, the Trust Fund as defined in the Trust Indenture, as amended, restated or replaced from time to time.
Contracts of the Trust. Every contract entered into by or on behalf of the Trust, whether by the Trustee, the Corporation, or otherwise, shall (except as the Trustee or the Corporation may otherwise expressly agree in writing with respect to their own personal liability) include a provision substantially to the following effect: The parties hereto acknowledge that the [Trustee] [Corporation] is entering into this agreement solely [in its capacity as Trustee] [on behalf] of the Trust and the obligations of the Trust hereunder shall be binding upon the [Trustee] [Corporation] only in such capacity, provided that any recourse against the [Trustee] [Corporation] or any Unitholder in any manner in respect of any indebtedness, obligation or liability of the [Trustee] [in its capacity as the Trustee] [Corporation] arising hereunder or arising in connection herewith or from the matters to which this agreement relates, if any, including without limitation claims based on negligence or otherwise tortious behaviour, shall be limited to, and satisfied only out of, the Trust Fund as defined in the third amended and restated trust indenture dated as of February 3, 2006, as amended or amended and restated from time to time. The omission of such a provision from any such written instrument shall not operate to impose personal liability on the Trustee, the Corporation or any Unitholder.
Contracts of the Trust. The parties hereto acknowledge that the obligations of the Trust hereunder shall not be personally binding upon the Trustee or any of the holders of Trust Units from time to time and that any recourse against the Trust, the Trustee or any holder of Trust Units in any manner in respect of an indebtedness, obligation or liability of the Trust arising hereunder or arising in connection herewith or from the matters to which this Agreement relates, if any, including without limitation claims based on negligence or otherwise tortious behaviour, shall be limited to, and satisfied only out of, the Trust Fund, as defined in the Declaration of Trust.
Contracts of the Trust. The parties hereto acknowledge that the obligations of the Trust hereunder shall not be personally binding upon the trustee, or any of the unitholders of the Trust and that any recourse against the Trust, the trustee or any unitholder in any manner in respect of any indebtedness, obligation or liability of the Trust arising hereunder or arising in connection herewith or from the matters to which this agreement relates, if any, including without limitation claims based on negligence or otherwise tortious behaviour, shall be limited to, and satisfied only out of, the Trust Fund, as defined in the trust indenture by which the Trust is established, as amended from time to time.
Contracts of the Trust. The Trustee and the Trust shall make all reasonable efforts to include as a specific term of every contract entered into by or on behalf of the Trust, whether by the Trustee, the Corporation, the Administrator or otherwise (except as the Trustee, the Corporation or the Administrator may otherwise expressly agree in writing with respect to their own personal liability), a provision substantially to the following effect: The parties hereto acknowledge that the [Trustee] [the Corporation] [Administrator] is entering into this agreement solely [in its capacity as Trustee] [on behalf] of the Trust and the obligations of the Trust hereunder shall not be personally binding upon the [Administrator] [Trustee] [the Corporation] or any of the Unitholders of the Trust and that any recourse against the Trust or any Unitholder in any manner in respect of any indebtedness, obligation or liability of the Trust arising hereunder or arising in connection herewith or from the matters to which this agreement relates, if any, including without limitation claims based on negligence or otherwise tortious behaviour, shall be limited to, and satisfied only out of, the Trust Fund as defined in the Amended and Restated Trust Indenture dated as of April 20, 2001 as amended from time to time. The omission of such a provision from any such written instrument shall not operate to impose personal liability on the Trustee, the Administrator, the Corporation or any Unitholder or Special Unitholder.
Contracts of the Trust. Except to the extent that True is entering into this agreement in its own capacity, the parties hereto acknowledge that True is entering into this agreement solely on behalf of the Trust and the obligations of the Trust hereunder shall not be personally binding upon True or any of the unitholders of the Trust such that any recourse against the Trust, the trustee of the Trust or True or any unitholder in any manner in respect of any indebtedness, obligation or liability of the Trust arising hereunder or arising in connection herewith or from the matters to which this agreement relates, if any, including without limitation claims based in contract, on negligence, tortuous behaviour or otherwise, shall be limited to, and satisfied only out of, the Trust Fund as defined in the Trust Indenture dated as of September 27, 2004, as amended, restated or replaced from time to time, relating to the Trust.
Contracts of the Trust. The parties hereto acknowledge that the obligations of the Trust hereunder shall not be personally binding upon the Administrator in its capacity as such or any of the holders of Units such that any recourse against the Trust, the trustee or the Administrator in its capacity as such or any holder of Units in any manner in respect of any indebtedness, obligation or liability of the Trust arising hereunder or arising in connection herewith or from the matters to which this agreement relates, if any, including without limitation claims based in contract, on negligence, tortious behaviour or otherwise, shall be limited to, and satisfied only out of, the trust fund as defined in the trust indenture dated as of April 25, 2005, as amended, restated or replaced from time to time, relating to the Trust.
Contracts of the Trust. The parties hereby acknowledge that in addition to entering into this Indenture on its own behalf, Baytex is entering into this Indenture on behalf of the Trust and the obligations of the Trust hereunder shall not be personally binding upon Baytex or any of the registered or beneficial unitholders of the Trust, or any annuitant under a plan of which a unitholder of the Trust acts as Indenture Trustee or carrier, and resort shall not be had to, nor shall recourse or satisfaction be sought from, any of such Persons or the private property of any such Persons. Any recourse against the Trust or any of the aforementioned Persons in any manner in respect of any indebtedness, obligation or liability of the Trust arising hereunder or arising in connection herewith or from the matters to which this Indenture relates, if any, including, without limitation, claims based on negligence or otherwise tortious behavior, shall be limited to, and satisfied only out of, the Trust Trusts, as defined in the Trust Indenture.
