Common use of Duties to the Trust Clause in Contracts

Duties to the Trust. (a) Except as otherwise expressly provided herein, no Independent Committee Member shall have any duties (including fiduciary duties) to the Trust, the Manager, the Shareholders, the Beneficial Owners or any other Person; provided that this Section 5.4(a) does not eliminate any implied contractual covenant of good faith and fair dealing. (b) Except as otherwise expressly provided herein, no Independent Committee Member shall have any liability for breach of contract or breach of duties (including fiduciary duties) to the Trust, the Manager, the Shareholders, the Beneficial Owners or any other Person; provided that this Section 5.4(b) does not limit or eliminate liability for any act or omission that constitutes a bad faith violation of the implied contractual covenant of good faith and fair dealing. (c) The duties of the Independent Committee Members shall be to act in the interest of the Trust, the Shareholders and the Beneficial Owners in the performance of the limited functions set forth in this Article V, and the Manager acknowledges that the performance of such duties by the Independent Committee Members satisfies and fulfills any duties (including fiduciary duties) owed by the Independent Committee Members to the Manager and its Affiliates.

Duties to the Trust. (a) Except as otherwise expressly provided herein, no Independent Committee Member shall have any duties (including fiduciary duties) to the Trust, the Manager, the Shareholders, the Beneficial Owners or any other Person; provided that this Section 5.4(a) does not eliminate any implied contractual covenant of good faith and fair dealing. (b) Except as otherwise expressly provided herein, no Independent Committee Member shall have any liability for breach of contract or breach of duties (including fiduciary duties) to the Trust, the Manager, the Shareholders, the Beneficial Owners or any other Person; provided that this Section 5.4(b) does not limit or eliminate liability for any act or omission that constitutes a bad faith violation of the implied contractual covenant of good faith and fair dealing. (c) The duties of the Independent Committee Members shall be to act in the interest of the Trust, the Shareholders and the Beneficial Owners in the performance of the limited functions set forth in this Article V, and the Manager acknowledges that the performance of such duties by the Independent Committee Members satisfies satisfy and fulfills fulfill any duties (including fiduciary duties) owed by the Independent Committee Members to the Manager and its Affiliates.