Custodian Not Responsible for Certain Actions Sample Clauses

Custodian Not Responsible for Certain Actions. The Custodian has no duty to take any action with respect to the Account except upon the written instruction of the Participant or the Participant’s Beneficiary, if applicable. Further, the Custodian shall have no responsibility for determining the amount of or collecting contributions to the Account made pursuant to this Agreement; selecting the investments for the Account; determining the amount, character or timing of any distribution to the Participant under this Agreement; determining the Participant’s maximum contribution amount; or maintaining or defending any legal action in connection with this Agreement, unless agreed upon by the Custodian and the Participant.
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Custodian Not Responsible for Certain Actions. Notwithstanding the foregoing, the Custodian shall have no responsibility for determining the amount of or collecting contributions to the Account made pursuant to this Agreement; determining the amount, character or timing of any distribution to a Participant under this Agreement; determining a Participant's maximum contribution amount; maintaining or defending any legal action in connection with this Agreement, unless agreed upon by the Custodian, Employer and Participant.
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Custodian Not Responsible for Certain Actions. Notwithstanding the foregoing, the Custodian shall have no responsibility for determining the amount of or collecting contributions to the Account made pursuant to this Agreement; determining the amount, character or timing of any distribution to a Employee/Participant under this Agreement; determining a Employee/Participant's maximum contribution amount; maintaining or defending any legal action in connection with this Agreement, unless agreed upon by the Custodian, Employer/Payor and Employee/Participant.
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Custodian Not Responsible for Certain Actions. The Custodian shall not be responsible for the determination or collection of contributions and transfers, including transfers from an existing 403(b) arrangement and rollovers, the purpose or propriety of any distribution made pursuant Article II through Article IV, for determining whether the contributions or distributions comply with the Plan Document, if applicable, or for any other action taken at the direction of, or not taken due to the failure of direction from, the Employer, the Participant, the Participant’s agent or attorney-in-fact, or a Beneficiary. The Participant (or the Employer, the Employer’s delegate, the Participant’s agent or attorney-in-fact, or Beneficiary where applicable) shall at all times fully indemnify and save harmless the Custodian, the Sponsor and their agents, successors and assigns, from any claim, action or liability arising from contributions, investments, transfers or distributions so made or actions so taken and from any and all other liability whatsoever (including without limitation all reasonable expenses incurred in defending against or settlement of such claim, action or liabilities) which may arise in connection with this Agreement or the Account, including without limitation those relating to valuation of assets whose values are not readily ascertainable on either an established exchange or a generally recognized market, except liability arising from the gross negligence or willful misconduct of the Custodian or Sponsor. The Custodian shall be under no duty to take any action other than as herein specified with respect to the Account unless the Participant, the Participant’s agent or attorney-in-fact, or the Beneficiary shall furnish the Custodian with written instructions and such instructions shall have been specifically agreed to by the Custodian in writing. No implied covenant or obligation shall be read into this Agreement. The Custodian shall be under no duty to defend or engage in any suit with respect to the Account unless the Custodian shall have first agreed in writing to do so and shall have been fully indemnified to its satisfaction. To the extent permitted by applicable law, the Custodian shall be protected in acting upon any written order from the Employer, the Employer’s delegate, Participant, the Participant’s agent or attorney-in-fact, or Beneficiary or any other notice, request, instruction or direction, consent, certificate or other instrument or paper believed by it to be genuine and to have ...
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Related to Custodian Not Responsible for Certain Actions

  • Trustee Not Responsible for Recitals The recitals herein contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this First Supplemental Indenture.

  • Not Responsible for Recitals or Issuance of Preferred Securities Guarantee The recitals contained in this Preferred Securities Guarantee shall be taken as the statements of the Guarantor, and the Preferred Securities Guarantee Trustee does not assume any responsibility for their correctness. The Preferred Securities Guarantee Trustee makes no representation as to the validity or sufficiency of this Preferred Securities Guarantee.

  • Trustee Not Responsible The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this [First] Supplemental Indenture or for or in respect of the recitals contained herein, all of which are made solely by the Company and the Guarantors.

  • Trustee Not Responsible for Recitals or Issuance of Notes The recitals and statements contained herein shall be taken as statements of the Partnership, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture or of the Notes other than with respect to the Trustee’s authentication. The Trustee shall not be accountable for the use or application by the Partnership of the Notes or the proceeds thereof.

  • Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Issuer, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representation as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the use or application by the Issuer of any of the Securities or of the proceeds thereof.

  • Escrow Agent Not Responsible for Furnished Information The Escrow Agent will have no responsibility for seeking, obtaining, compiling, preparing or determining the accuracy of any information or document, including the representative capacity in which a party purports to act, that the Escrow Agent receives as a condition to a release from escrow or a transfer of escrow securities within escrow under this Agreement.

  • Escrow Agent Not Responsible for Genuineness The Escrow Agent will not be responsible or liable in any manner whatever for the sufficiency, correctness, genuineness or validity of any escrow security deposited with it.

  • Trustee Not Responsible for Recitals or Issuance of Securities The recitals contained herein and in the Securities, except for the Trustee's certificates of authentication, and in any coupons shall be taken as the statements of the Company, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities or coupons, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations hereunder and that the statements made by it in a Statement of Eligibility on Form T-1 supplied to the Company are true and accurate, subject to the qualifications set forth therein. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of Securities or the proceeds thereof.

  • Not Responsible for Recitals or Issuance of Notes The recitals contained herein and in the Notes, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee or any Authenticating Agent assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Notes. The Trustee or any Authenticating Agent shall not be accountable for the use or application by the Company of Notes or the proceeds thereof.

  • Not Responsible SAP and its licensors will not be responsible under this Agreement (i) if the Software is not used in accordance with the Documentation; or (ii) if the defect or liability is caused by Licensee, a Modification or Add-on (other than a Modification or Add-on made by SAP which is provided through SAP Support or under warranty), or third-party software; or (iii) if the Software is used in conjunction with any third party software for which the Licensee lacks sufficient rights from the third party vendor for such use; or (iv) for any Licensee activities not permitted under this Agreement. SAP AND ITS LICENSORS SHALL NOT BE LIABLE FOR ANY CLAIMS OR DAMAGES ARISING FROM INHERENTLY DANGEROUS USE OF THE SOFTWARE AND/OR THIRD-PARTY SOFTWARE LICENSED HEREUNDER.

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