Common use of Liabilities of Series Clause in Contracts

Liabilities of Series. Without limitation of the provisions of Section 5.2(b) hereof, but subject to the right of the Trustees in their discretion to allocate general liabilities, expenses, costs, charges or services as herein provided, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Series shall be enforceable against the assets of such Series only, and not against the assets of any other Series or the Trust generally. Notice of this limitation on liabilities among Series shall be set forth in the Certificate of Trust (whether originally or by amendment) as filed or to be filed in the Office of the Secretary of State of the State of Delaware pursuant to Section 3810 of the Act, and upon the giving of such notice in the Certificate of Trust, the statutory provisions of Section 3804(a) of the Act relating to such limitations (and the statutory effect under Section 3804(a) of setting forth such notice in the certificate of trust) shall become applicable to the Trust and each Series. Every note, bond, contract or other undertaking issued by or on behalf of a particular Series shall include a recitation limiting the obligation represented thereby to that Series and its assets.

Liabilities of Series. Without limitation of the provisions of Section 5.2(b) hereof, but subject to the right of the Trustees Directors in their discretion to allocate general liabilities, expenses, costs, charges or services as herein provided, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Series shall be enforceable against the assets of such Series only, and not against the assets of any other Series or the Trust generallySeries. Notice of this limitation on interseries liabilities among Series shall be set forth in the Certificate of Trust Formation (whether originally or by amendment) as filed or to be filed in the State Office of the Secretary of State of the State of Delaware pursuant to Section 3810 Sections 18-201 and 18-202 of the Act, and upon the giving of such notice in the Certificate of TrustFormation, the statutory provisions of Section 3804(a18-215(b) of the Act relating to such limitations on interseries liabilities (and the statutory effect under Section 3804(a18-215(b) of setting forth such notice in the certificate of trustformation) shall become applicable to the Trust Company and each Series. Every note, bond, contract or other undertaking issued by or on behalf of a particular Series shall include a recitation limiting the obligation represented thereby to that Series and its assets.