Common use of No Liability for Acts of Predecessor Clause in Contracts

No Liability for Acts of Predecessor. No successor Liquidating Trustee shall be in any way responsible or liable for the acts or omissions of any predecessor Liquidating Trustee in office prior to the date on which such Person becomes the Liquidating Trustee, nor shall such successor Liquidating Trustee be obligated to inquire into the validity or propriety of any such act or omission unless such successor Liquidating Trustee expressly assumes such responsibility. Any successor Liquidating Trustee shall be entitled to accept as conclusive any final accounting and statement of Trust Assets furnished to such successor Liquidating Trustee by the predecessor Liquidating Trustee and shall further be responsible only for those Trust Assets included in such statement.

No Liability for Acts of Predecessor. No successor Liquidating Trustee shall be in any way responsible or liable for the acts or omissions of any predecessor Liquidating Trustee in office prior to the date on which such Person or Entity becomes the Liquidating Trustee, nor shall such successor Liquidating Trustee he be obligated to inquire into the validity or propriety of any such act or omission unless such successor Liquidating Trustee expressly assumes such responsibility. Any successor Liquidating Trustee shall be entitled to accept as conclusive any final accounting and statement of Liquidating Trust Assets furnished to such successor Liquidating Trustee by the such predecessor Liquidating Trustee and shall further be responsible only for those Liquidating Trust Assets included in such statement.

No Liability for Acts of Predecessor. No successor Liquidating Trustee shall be in any way responsible or liable for the acts or omissions of any predecessor Liquidating Trustee in office prior to the date on which such Person person becomes the Liquidating Trustee, nor shall such successor Liquidating Trustee be obligated to inquire into the validity or propriety of any such act or omission unless such successor Liquidating Trustee expressly assumes such responsibility. Any successor Liquidating Trustee shall be entitled to accept as conclusive any final accounting and statement of Trust Assets aAssets furnished to such successor Liquidating Trustee by the predecessor Liquidating Trustee and shall further be responsible only for those Trust Assets included aAssets properly includable in such statement.

No Liability for Acts of Predecessor. No successor Liquidating Trustee Trust Administrator shall be in any way responsible or liable for the acts or omissions of any predecessor Liquidating Trustee Trust Administrator in office prior to the date on which such Person person becomes the a Liquidating TrusteeTrust Administrator, nor shall such successor Liquidating Trustee he be obligated to inquire into the validity or propriety of any such act or omission omission, unless such successor Liquidating Trustee Trust Administrator expressly assumes such responsibility. Any successor Liquidating Trustee Trust Administrator shall be entitled to accept as conclusive any final accounting and statement of the Liquidating Trust Assets furnished to such successor Liquidating Trustee Trust Administrator by the such predecessor Liquidating Trustee Trust Administrator and shall further be responsible only for those Liquidating Trust Assets included in such statement.