Distribution Trust Liabilities Sample Clauses
Distribution Trust Liabilities. All liabilities of the Distribution Trust, including, without limitation, indemnity obligations under Section 7.2 of this Distribution Trust Agreement, will be liabilities of the Distribution Trust as an entity, and will be paid or satisfied from the Trust Expense Fund. No liability of the Distribution Trust will be payable in whole or in part by any Beneficiary individually or in the Beneficiary’s capacity as a Beneficiary, by the Distribution Trustee individually or in the Distribution Trustee’s capacity as Distribution Trustee, by any Member individually or in the Member’s capacity as Member, or by any member, partner, shareholder, director, officer, professional, employees, agent, affiliate or advisor of any Beneficiary, any Member, the Distribution Trustee or their respective affiliates.
Distribution Trust Liabilities. The Trustee hereby agrees to cause the Canada Distribution Trust to pay, discharge and perform when due all obligations and liabilities incurred from the operation of the Canada Distribution Trust and the administration of the Canada Distribution Trust Assets. Should any liabilities be asserted against the Trustee as the transferee of amounts distributed from the Liquidating Trust or as a result of obligations or liabilities incurred by such Canada Distribution Trust under this Section 2.4 (whether accrued, contingent, liquidated or unliquidated), the Trustee may use such part of the Distribution Trust Assets as may be necessary to contest any such liability or make payment thereof, but in no event shall the Trustee, the Canada Distribution Trust, its Beneficiaries, or any employees or agents of the Trustee or of the Canada Distribution Trust be personally liable, nor shall resort be had to the private property of such Persons, in the event that the Canada Distribution Trust Assets are not sufficient to satisfy the obligations of the Canada Distribution Trust.
Distribution Trust Liabilities. The Trustee hereby agrees to cause the U.S. Distribution Trust to pay, discharge and perform when due all obligations and liabilities incurred from the operation of the U.S. Distribution Trust and the administration of the U.S. Distribution Trust Assets. Should any liabilities be asserted against the Trustee as the transferee of amounts distributed from the Liquidating Trust or as a result of obligations and liabilities incurred by the U.S. Distribution Trust (whether accrued, contingent, liquidated or unliquidated), the Trustee may use such part of the Distribution Trust Assets as may be necessary to contest any such liability or make payment thereof, but in no event shall the Trustee, the U.S. Distribution Trust, its Beneficiaries, or any employees or agents of the Trustee or of the U.S. Distribution Trust be personally liable, nor shall resort be had to the private property of such Persons, in the event that the U.S. Distribution Trust Assets are not sufficient to satisfy the obligations of the U.S. Distribution Trust.