Common use of Director/Trustee Liability Clause in Contracts

Director/Trustee Liability. The Company and the Distributor agree that the obligations of the Company under the Agreement shall not be binding upon any of the Directors, shareholders, nominees, officers, employees or agents, whether past, present or future, of the Company individually, but are binding only upon the assets and property of the Company, as provided in the Articles of Incorporation. The execution and delivery of this Agreement have been authorized by the Directors of the Company, and signed by an authorized officer of the Company, acting as such, and neither such authorization by such Directors nor such execution and delivery by such officer shall be deemed to have been made by any of them or any shareholder of the Company individually or to impose any liability on any of them or any shareholder of the Company personally, but shall bind only the assets and property of the Company as provided in the Articles of Incorporation.

Director/Trustee Liability. The Company and the Distributor agree that the obligations of the Company under the Agreement shall not be binding upon any of the DirectorsTrustees, shareholders, nominees, officers, employees or agents, whether past, present or future, of the Company individually, but are binding only upon the assets and property of the Company, as provided in the Articles Declaration of IncorporationTrust. The execution and delivery of this Agreement have been authorized by the Directors Trustees of the Company, and signed by an authorized officer of the Company, acting as such, and neither such authorization by such Directors Trustees nor such execution and delivery by such officer shall be deemed to have been made by any of them or any shareholder of the Company individually or to impose any liability on any of them or any shareholder of the Company personally, but shall bind only the assets and property of the Company as provided in the Articles Declaration of IncorporationTrust.

Director/Trustee Liability. The Company and the Distributor agree that the obligations of the Company under the Agreement shall not be binding upon any of the DirectorsTrustees, shareholders, nominees, officers, employees or agents, whether past, present or future, of the Company individually, but are binding only upon the assets and property of the Company, as provided in the Articles Declaration of IncorporationTrust. The execution and delivery of this Agreement have been authorized by the Directors Trustees of the Company, and signed by an authorized officer of 12 13 the Company, acting as such, and neither such authorization by such Directors Trustees nor such execution and delivery by such officer shall be deemed to have been made by any of them or any shareholder of the Company individually or to impose any liability on any of them or any shareholder of the Company personally, but shall bind only the assets and property of the Company as provided in the Articles Declaration of IncorporationTrust.