Liability of Supervisor Clause Samples
The 'Liability of Supervisor' clause defines the circumstances under which a supervisor may be held legally responsible for actions or omissions related to their supervisory duties. Typically, this clause outlines the extent of the supervisor's accountability for the conduct of those they oversee, such as employees or contractors, and may specify exclusions or limitations to their liability, for example, in cases where the supervisor acted in good faith or within the scope of their authority. Its core function is to clarify the boundaries of legal responsibility, thereby managing risk and preventing disputes over who is liable for workplace incidents or errors.
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Liability of Supervisor. The Supervisor shall be under no liability to the Unitholders, the Administrative Agent, the Trust or the Evaluator for any action taken or for refraining from the taking of any action in good faith pursuant to this Trust Agreement or for errors in judgment, but shall be liable only for its own willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties hereunder. The Supervisor may rely in good faith on any paper, order, notice, list, affidavit, receipt, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to it by the Trustee, counsel or any other persons pursuant to this Trust Agreement and in furtherance of its duties.
Liability of Supervisor. The Supervisor shall be under no liability to the Unitholders for any action taken or for refraining from the taking of any action in good faith pursuant to this Master Services Agreement or for errors in judgment, but shall be liable only for its own gross negligence, bad faith or willful misconduct in the performance of its duties. The Supervisor may rely in good faith on any paper, order, notice, list, affidavit, receipt, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to it by the Depositor, Evaluator, any Administrative & Custodial Party, counsel or any other Persons pursuant to this Master Services Agreement and in furtherance of its duties.
Liability of Supervisor. The Supervisor shall be under no liability to the Unitholders for any action taken or for refraining from the taking of any action in good faith pursuant to this Master Services Agreement or for errors in judgment, but shall be liable only for its own gross negligence, bad faith or willful misconduct in the performance of its duties. The Supervisor may rely in good faith on any paper, order, notice, list, affidavit, receipt, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to it by the Depositor, Evaluator, any BNY Party, counsel or any other Persons pursuant to this Master Services Agreement and in furtherance of its duties.
Liability of Supervisor. No Supervisor shall have any personal liability for acts performed on behalf of the Company as a Supervisor except for those acts as would constitute violation of the laws or administrative regulations of any jurisdiction to which the Company or the relevant Supervisor is subject.
Liability of Supervisor