Common use of LIMITATION OF LIABILITY OF UNIT HOLDERS, TRUSTEES AND OFFICERS Clause in Contracts

LIMITATION OF LIABILITY OF UNIT HOLDERS, TRUSTEES AND OFFICERS. The Trustee, in incurring any debts, liabilities or obligations, or in taking or omitting any other actions for or in connection with the Trust is, and shall be deemed to be, acting as Trustee of the Trust and not in its own individual capacity. Except to the extent provided in Section 7.01, no Trustee shall, nor shall any Holder, be liable for any debt, claim, demand, judgment, decree, liability or obligation of any kind of, against or with respect to the Trust, arising out of any action taken or omitted for or on behalf of the Trust, and the Trust shall be solely liable therefore, and resort shall be had solely to the Trust Estate for the payment or performance thereof. Each Holder shall be entitled to pro-rata indemnity from the Trust Estate if, contrary to the provisions hereof, such Holder shall be held to have any such personal liability.