Common use of Disclosure of Shareholder Liability Clause in Contracts

Disclosure of Shareholder Liability. The Warranty Provider understands and agrees that the obligations of the Trust on behalf of the Fund under this Agreement are not binding upon any trustee of the Trust or shareholder personally, but bind only the Fund's assets and property. The Warranty Provider represents that it has notice of the provisions of the Declaration of Trust of the Trust disclaiming shareholder and trustee liability for acts or obligations of the Fund other than in the case of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of such Trustee.

Disclosure of Shareholder Liability. The Warranty Provider understands and agrees that the obligations of the Trust on behalf of the Fund under this Agreement are not binding upon any trustee of the Trust or shareholder Shareholder personally, but bind only the Fund's assets and property. The Warranty Provider represents that it has notice of the provisions of the Declaration of Trust of the Trust disclaiming shareholder Shareholder and trustee Trustee liability for acts or obligations of the Fund other than in the case of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of such Trustee.

Disclosure of Shareholder Liability. The Warranty Provider ------------------------------------ understands and agrees that the obligations of the Trust on behalf of the Fund under this Agreement are not binding upon any trustee of the Trust or shareholder Shareholder personally, but bind only the Fund's assets and property. The Warranty Provider represents that it has notice of the provisions of the Declaration of Trust of the Trust disclaiming shareholder Shareholder and trustee Trustee liability for acts or obligations of the Fund other than in the case of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of such Trustee.