Common use of Limitations of Liability of Trustees and Shareholders of the Trust Clause in Contracts

Limitations of Liability of Trustees and Shareholders of the Trust. The execution and delivery of this Agreement have been authorized by the trustees of the Trust and signed by an authorized officer of the Trust, acting as such, and neither such authorization by such trustees nor such execution and delivery by such officer shall be deemed to have been made by any of them individually or to impose any liability on any of them personally, and the obligations of this Agreement are not binding upon any of the trustees or shareholders of the Trust, but bind only the appropriate property of the Trust, or any Portfolio, as provided in the Declaration of Trust. The debts, liabilities and obligations with respect to each Portfolio shall be enforceable against the assets and property of such Portfolio only, and not against the assets and property of any other Portfolio.