Limitation on Trustee Liability. In the absence of negligence, willful misconduct or bad faith on the part of the Trustee, the Trustee shall have no personal liability for the payment of any indebtedness or expenses of Party B or be personally liable for the breach or any failure of any obligation, representation, warranty or covenant made or undertaken by Party B under this Transaction or the Trust Agreement within the scope of the Trustee's discharge of its duties under this Transaction or the Trust Agreement or for any amounts due under this Transaction from Party B, such amounts to be paid solely from the assets of Party B in accordance with the Trust Agreement.
Limitation on Trustee Liability. No Trustee shall be liable to the Trust or any other person for monetary or other damages for breach of fiduciary duty as a Trustee to the maximum extent permitted by Virginia law; provided, however, that this provision shall not limit the liability of a Trustee (a) for any breach of the Trustee's duty of loyalty to the Trust or (b) as otherwise required by Virginia law. If Virginia law be hereafter amended to authorize the further elimination or limitation of liability of Trustees, then the liability of the Trustees shall be limited to the fullest extent permitted by Virginia law, as so amended, and such elimination or limitation of liability shall be in addition to, and not in lieu of, the limitation on liability provided in the previous sentence. Any repeal or amendment of this section shall be of prospective effect only and shall not adversely affect any limitation on the liability of the Trustee existing at the time of such repeal or amendment.
Limitation on Trustee Liability. Each party to this Agreement acknowledges that the performance by the Trustee of its duties under this Article XIV related to the timely preparation, execution and filing of any Form 10-D, Form 12b-25, Form 8-K or Form 10-K or any amendments to such filings is contingent upon such parties strictly observing all applicable deadlines in the performance of their duties under this Article XIV. The Trustee shall have no liability for any loss, expense, damage, claim arising out of or with respect to any failure to properly prepare, execute and/or timely file a Form 10-D, Form 12b-25, Form 8-K or Form 10-K or any amendments to such filings where such failure results from the Trustee’s inability or failure to obtain or receive, on a timely basis, any information from any other party hereto (other than an Affiliate thereof) needed to prepare, arrange for execution or file such Form 10-D, Form 12b-25, Form 8-K or Form 10-K or any amendments to such filings not resulting from its negligence, bad faith or willful misconduct.
Limitation on Trustee Liability. (1) The Trustee shall have no powers, duties or responsibilities with regard to the administration of the Plan(s) or to determine the rights or benefits of any person having or claiming an interest under the Plan(s) or in the Trust or under this Trust Agreement or to examine or control any disposition of the Trust or part thereof which is directed by the Company or Agent, as applicable. Any dispute with respect to a claim for benefit payable under the Plan or Trust, among the Company and a Plan participant or beneficiary shall be governed by and resolved through the claims procedures and dispute resolution provisions contained in the Plan document.
(2) The Trustee shall have no liability for the adequacy of contributions for the purposes of the Plans or for enforcement of the payment thereof.
(3) The Trustee shall have no liability for the acts or omissions of the Company, Agent or any of their agents.
(4) The Trustee shall have no liability for following proper directions of the Company, Agent or any of their agents or of any participant when such directions are made in accordance with this Trust Agreement.
(5) During such period or periods of time, if any, as the Company or Agent is directing the investment and management of Trust assets, the Trustee shall have no obligation to determine the existence of any conversion, redemption, exchange, subscription or other right relating to any securities purchased on the directions of such directing party if notice of any such right was given prior to the purchase of such securities. If such notice is given after the purchase of such securities, the Trustee shall notify such directing party. The Trustee shall have no obligation to exercise any such right unless it is instructed to exercise such right, in writing, by the directing party within a reasonable time prior to the expiration of such right.
(6) During such period or periods of time, if any, as the Company or Agent is directing the investment and management of Trust assets, if such directing party directs the Trustee to purchase securities issued by any foreign government or agency thereof, or by any corporation domiciled outside of the United States, it shall be the responsibility of the directing party to advise the Trustee in writing with respect to any laws or regulations of any foreign countries or any United States territories or possessions which shall apply, in any manner whatsoever, to such securities, including, but not limited to, receipt of div...
Limitation on Trustee Liability. No person in his capacity as a trustee shall have any liability for any breach of any representation, warranty, covenant or agreement in this Agreement personally; provided, however, that the foregoing shall not limit the liability of a trustee arising by reason of the fact that he, she or it is a CCBG Shareholder in a non-representative capacity.
Limitation on Trustee Liability. No Trustee shall be liable to the Trust or any other person for monetary or other damages for breach of fiduciary duty as a Trustee.
Limitation on Trustee Liability. Notwithstanding anything contained herein, the liability of any Trustee or Independent Special Trustee serving from time to time pursuant to the Trust shall be enforceable only out of the assets of the Trust and there shall be no recourse in the enforcement of any liability hereunder against any then serving or former Trustee or Independent Special Trustee.
Limitation on Trustee Liability. The Declaration of Trust establishing the Fund, filed on January 19, 1988, a copy of which, together with all amendments thereto (the "Declaration"), is on file in the Office of the Secretary of the Commonwealth of Massachusetts, provides that the name "USLICO Series Fund" refers to the Trustee under the Declaration collectively as trustees and not as individuals or personally, and that no shareholder, trustee, officer, employee or agent of the Fund shall be subject to claims against or obligations of the Fund to any extent whatsoever, but that the Fund estate only shall be liable.
Limitation on Trustee Liability. UPON TOTAL DISTRIBUTION; CONTINUATION OF TRUSTEE POWERS.................................... 15 13.4
Limitation on Trustee Liability. 1. No Trustee shall be individually liable for any loss to, or depreciation in, the value of the Trust Estate occurring for any reason, so long as the Trustee shall have been acting in good faith.
2. Every act done, power exercised or obligation assumed by the Trustee, pursuant to the provisions of this Agreement, shall be held to be done, exercised or assumed, as the case may be, by the Trustee acting in the Trustee's fiduciary capacity and not otherwise, and every person, firm or corporation contracting or otherwise dealing with the Trustee shall look only to the Assets of the Trust Estate for payment under such contract or payment of any money that may become due or payable under any obligation arising under this Agreement, in whole or in part, and no Trustee shall be individually liable for such matter even though the Trustee did not exempt itself from individual liability when entering into any contract, obligation or transaction in connection with or growing out of the Trust Estate.
3. The Trustee shall be liable for gross negligence and for such acts, neglect and defaults which constitute a breach of trust or which are committed in bad faith.
