Common use of Limitation of Liability of Trustees and Officers Clause in Contracts

Limitation of Liability of Trustees and Officers. No Trustee or officer of the Trust shall be liable to the Trust or to any Trustee or the Beneficiary for any act or omission whether his or its own or that of any other Trustee or officer of the Trust or of the Beneficiary or any agent of the Trust, nor shall any such Trustee be held to any personal liability whatsoever in tort, contract, or otherwise in connection with the affairs of this Trust, except only that arising from his or its own bad faith, willful misfeasance, gross negligence, or reckless disregard of his or its duties.

Limitation of Liability of Trustees and Officers. No Trustee or officer of the Trust shall be liable to the Trust or to any Trustee or the Beneficiary Beneficial Owner for any act or omission whether his or its own or that of any other Trustee or officer of the Trust or of the Beneficiary Beneficial Owner or any agent of the Trust, nor shall any such Trustee be held to any personal liability whatsoever in tort, contract, contract or otherwise in connection with the affairs of this Trust, except only that arising from his or its own bad faith, willful misfeasance, gross negligence, negligence or reckless disregard of his or its duties.