Liability of Unit Holders Sample Clauses

Liability of Unit Holders. 39 19 Remuneration and expenses of Trustee 40 20 Duration and termination of the Trust 42 21 Amendments to this Deed 44 22 General 45 Schedule 1 47 Execution 48 Date
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Liability of Unit Holders. 39 18.1 Limitation of a Unit Holder’s liability 39 18.2 Indemnity to Trustee for Tax and other liabilities 40 19 Remuneration and expenses of Trustee 40 19.1 Trustee remuneration 40 19.2 Expenses 41 20 Duration and termination of the Trust 42 20.1 Date of commencement of wind up 42 20.2 Wind up on changes to Tax Law 42 20.3 Perpetuity restriction on issue and redemption of Units 42 20.4 Realisation of Assets 43 20.5 Final distribution 43 20.6 Distribution to Ordinary Unit Holder 43 20.7 Postponement of realisation 43 20.8 Retention of property 43 20.9 Continuation of powers 43 20.10 Cancellation of Units 44 20.11 Audit 44 20.12 Partly Paid Units 44 21 Amendments to this Deed 44 21.1 Trustee may amend 44 21.2 Registered Scheme 44 22 General 45 22.1 Disputes 45 22.2 Confidentiality 45 22.3 Notices 45 22.4 GST 45 22.5 Incorporated General Provisions 46 22.6 Applicable law 46 22.7 Counterparts 46 Schedule 1 47 Execution 48 Party [Independent Trustee] [ACN] of [insert] (Trustee) Aurizon Network Pty Ltd ABN 78 132 181 116 of Level 17, 000 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxxxx (Aurizon Network) Background A This Deed is the trust deed of [Name of Trust]. B Aurizon Network proposes to subscribe for one Ordinary Unit in the Trust on establishment of the Trust. C Aurizon Network has appointed the Trustee, and the Trustee has agreed to act, as the first trustee of the Trust. Agreed terms
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Liability of Unit Holders. LIABILITY LIMITED 16.1 The liability of a Member is limited to the Application Price paid or agreed to be paid for a Unit. A Member need not indemnify the Manager if there is a deficiency in the Net Assets of the Trust or meet the claim of any creditor of the Manager in respect of the Trust.
Sample 1
Liability of Unit Holders. Except as otherwise provided by this Agreement or by an Assumption Agreement, no Unit Holder shall be liable for the debts, liabilities, contracts, or any other obligations of the Company. Except as provided in the Act, no Unit Holder shall be liable for Capital Contributions returned to such Unit Holder.
Sample 1

Related to Liability of Unit Holders

  • Liability of Members The Members shall not have any liability for the obligations or liabilities of the Company except to the extent provided in the Act.

  • Liability of Shareholders Notice is hereby given that, as provided by applicable law, the obligations of or arising out of this Agreement are not binding upon any of the shareholders of the Trust individually but are binding only upon the assets and property of the Trust and that the shareholders shall be entitled, to the fullest extent permitted by applicable law, to the same limitation on personal liability as shareholders of private corporations for profit.

  • Liability of Member The Member shall not have any liability for the obligations or liabilities of the Company except to the extent provided in the Act.

  • Liability of Limited Partners Except as provided in the following sentence, notwithstanding the provisions hereof for the allocation of the Partnership’s net losses and for the distribution of cash to the Partners by the Partnership, the Limited Partners shall not be responsible or obligated to any third parties for any debts or liabilities of the Partnership in excess of such Limited Partner’s unrecovered contributions to the capital of the Partnership and such Limited Partner’s share of any undistributed profits of the Partnership.

  • Liability of Partners No Limited Partner shall be liable for the debts, liabilities, contracts or any other obligations of the Partnership. Except as agreed upon by the Partners, and except as otherwise provided by the Act or by any other applicable state law, no Partner shall be required to make any other Capital Contributions or to loan any funds to the Partnership. No Partner shall have any personal liability for the repayment of its Capital Contributions or loans of any other Partner.

  • No Liability of Members All debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and no Member shall be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a Member.

  • Liability of a Member The liability of each Member shall be limited as provided in the Delaware Act and as set forth in this Agreement. No Member shall be obligated to restore by way of Capital Contribution or otherwise any deficits in its Capital Account (if such deficits occur).

  • Liability of Manager The Manager will not be liable to you for any act or omission, except for obligations expressly assumed by the Manager in the applicable AAU.

  • Liability of General Partner Except as otherwise provided in this Agreement, the liability of the General Partner arising from the conduct of the business affairs or operations of the Partnership or from the debts of the Partnership is unrestricted.

  • Liability of the Member All debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and the Member shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a member.

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