Liability of Trustee. Upon effective resignation hereunder, the resigning or removed Trustee shall be discharged and shall no longer be liable in any manner hereunder except as to acts or omissions occurring prior to such resignation or removal, and the new trustee shall thereupon undertake and perform all duties and be entitled to all rights and compensation as trustee under this Agreement. The successor trustee shall not be under any liability hereunder for acts or omissions occurring prior to execution of an instrument accepting its appointment as trustee.
Appears in 28 contracts
Samples: Depositary Trust Agreement, Depositary Trust Agreement (Currencyshares Chinese Renminbi Trust), Depositary Trust Agreement (Currencyshares Chinese Renminbi Trust)
Liability of Trustee. Upon effective resignation hereunder, the resigning or removed Trustee shall be discharged and shall no longer be liable in any manner hereunder except as to acts or omissions occurring prior to such resignation or removal, and the new trustee Trustee shall thereupon undertake and perform all duties and be entitled to all rights and compensation as trustee Trustee under this Agreement. The successor trustee Trustee shall not be under any liability hereunder for acts or omissions occurring prior to execution of an instrument accepting its appointment as trusteeTrustee.
Appears in 1 contract
Samples: Trust Agreement
