Independent Trustees. 7.1 The liability of any independent trustee under this Agreement is not an unlimited or personal liability and instead is limited to the funds from time to time belonging to the trust on behalf of which he has entered into this Agreement, in the proper course of the administration of that trust. In this clause, an independent trustee is any party who has signed this agreement in his capacity as the trustee of a trust and who is not a beneficiary of the trust nor has any right to, or interest in, any of the assets of the trust except in his capacity as trustee of that trust.
Appears in 2 contracts
Samples: Subscription Agreement, Subscription Agreement
Independent Trustees. 7.1 The liability of any independent trustee under this the Agreement is not an unlimited or personal liability and instead is limited to the funds from time to time belonging to the trust on behalf of which he has they have entered into this the Agreement, in the proper course of the administration of that trust. In this clause, an independent trustee is any party who has signed this agreement the Agreement in his their capacity as the trustee of a trust and who is not a beneficiary of the trust nor has any right to, or interest in, any of the assets of the trust except in his their capacity as trustee of that trust.
Appears in 2 contracts
Samples: Simple Agreement for Future Equity, Convertible Instrument Agreement
