Common use of Limitation of Personal Liability Clause in Contracts

Limitation of Personal Liability. The Trustees shall have no power to bind any Shareholder personally or to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay by way of subscription to any Shares or otherwise. Every note, bond, contract or other undertaking issued by or on behalf of the Trust or the Trustees relating to the Trust shall include a recitation limiting the obligation represented thereby to the Trust and its assets (but the omission of such a recitation shall not operate to bind any Shareholder).

Appears in 6 contracts

Samples: Keystone Custodian Fund Series K-2, Keystone High Income Bond Fund B-4, Keystone Growth & Income Fund S-1

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