Common use of Initial Registered Trustee; Powers Clause in Contracts

Initial Registered Trustee; Powers. The Registered Trustee has been appointed as trustee and joined as a party hereunder for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Trust Act. In the event of the resignation or removal of the Registered Trustee, the Board of Trustees shall appoint a successor Registered Trustee in accordance with Section 15.2. The Registered Trustee shall be responsible for performing only the following duties with respect to the Trust: (i) to execute, deliver, acknowledge and file any certificates of trust and any amendments thereto required to be filed pursuant to applicable law, (ii) to execute any duly adopted amendments to this Trust Agreement and (iii) to execute, deliver, acknowledge and file any certificates of cancellation required to be filed pursuant to applicable law. The Board of Trustees or the Manager shall keep the Registered Trustee reasonably informed of any actions of the Board of Trustees or the Manager or other circumstances that could affect the rights, duties or liabilities of the Registered Trustee. The Registered Trustee shall have no other authority, duties or liabilities. The Registered Trustee has no responsibility for monitoring the conduct of the Board of Trustees or the Manager or causing the Board of Trustees or the Manager, or any other Person to discharge their respective duties under this Trust Agreement, the Bylaws or the Management Agreement, and the Registered Trustee shall have no liability for the acts and omissions of the Trust, the Board of Trustees or the Manager.

Initial Registered Trustee; Powers. The Registered Trustee has been appointed as trustee and joined as a party hereunder for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Trust Act. In the event of the resignation or removal of the Registered Trustee, the Board of Trustees shall appoint a successor Registered Trustee in accordance with Section 15.2. The Registered Trustee shall be responsible for performing only the following duties with respect to the Trust: (i) to execute, deliver, acknowledge and file any certificates of trust and any amendments thereto required to be filed pursuant to applicable law, (ii) to execute any Trust Certificates (or other certificates of the Trust) representing Shares issued to Shareholders if reasonably requested to do so by written instruction from the Board of Trustees, (iii) to execute any duly adopted amendments to this Trust Agreement and (iiiiv) to execute, deliver, acknowledge and file any certificates of cancellation required to be filed pursuant to applicable law. The Board of Trustees or the Manager shall keep the Registered Trustee reasonably informed of any actions of the Board of Trustees or the Manager or other circumstances that could affect the rights, duties or liabilities of the Registered Trustee. The Registered Trustee shall have no other authority, duties or liabilities. The Registered Trustee has no responsibility for monitoring the conduct of the Board of Trustees or the Manager or causing the Board of Trustees or the Manager, or any other Person to discharge their respective duties under this Trust Agreement, the Bylaws or the Management Agreement, and the Registered Trustee shall have no liability for the acts and omissions of the Trust, the Board of Trustees or the Manager.

Initial Registered Trustee; Powers. The Registered Trustee has been appointed as trustee and joined as a party hereunder for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Trust Act. In the event of the resignation or removal of the Registered Trustee, the Board of Trustees shall appoint a successor Registered Trustee in accordance with Section 15.2. The Registered Trustee shall be responsible for performing only the following duties with respect to the Trust: (i) to execute, deliver, acknowledge and file any certificates of trust and any amendments thereto required to be executed by it and filed pursuant to applicable law, (ii) only if requested and instructed to do so by the Board of Trustees or a Manager (in their sole discretion), to execute any duly adopted amendments to this Trust Agreement Agreement, and (iii) to execute, deliver, acknowledge and file any certificates of cancellation required to be filed pursuant to applicable law. Except as otherwise provided in Section 10.4, the consent of the Registered Trustee is not required to adopt any amendments to this Trust Agreement and the execution or delivery of any such amendments by the Registered Trustee is not required for such amendments to be duly adopted. The Board of Trustees or the Manager Manager(s) shall keep the Registered Trustee reasonably informed of any actions of the Board of Trustees or the Manager Manager(s) or other circumstances that could affect the rights, duties or liabilities of the Registered Trustee. The Registered Trustee shall have no other authority, duties or liabilities. The Registered Trustee has no responsibility for monitoring the conduct of the Board of Trustees or the Manager Manager(s) or causing the Board of Trustees or the ManagerManager(s), or any other Person to discharge their respective duties under this Trust Agreement, the Bylaws or the Management AgreementAgreements, and the Registered Trustee shall have no liability for the acts and omissions of the Trust, the Board of Trustees or the ManagerManager(s).