Limited liability trustees. If you have been named in this Loan Agreement as a limited liability trustee then your liability is not personal and unlimited but will be limited to an amount equal to the value of the assets of the trust under which you have entered into this Loan Agreement as a trustee that are (or, but for default would be) available to satisfy your liability for the moneys owing (the limited amount) unless your right as a trustee to be indemnified from the assets of the trust has been lost and, as a result, the lender is unable to recover from you the limited amount.
Appears in 4 contracts
Samples: www.squirrel.co.nz, Secured Loan Agreement, Unsecured Loan Agreement
Limited liability trustees. If you have been named in this Loan Agreement contract as a limited liability trustee then your liability is not personal and unlimited andunlimited but will be limited to an amount equal to the value of the assets of the trust under which you have entered into this Loan Agreement contract as a trustee that are (or, but for default would be) available to satisfy your liability for the moneys owing (the "limited amount") unless your right as a trustee to be indemnified from frorn the assets of the trust has been lost and, as a result, the lender is unable to recover from you the limited amount.
Appears in 1 contract
Samples: Term Loan Agreement
