Common use of No liability of Noteholders or Beneficiary Clause in Contracts

No liability of Noteholders or Beneficiary. No Noteholder by reason of being a Noteholder, or Beneficiary by reason of being a Beneficiary, shall in respect of a Trust: (a) (liability) have any liability to make any contribution to the Assets of the Trust or any payment to the Trustee, the Manager or any other person in relation to the Trust; and (b) (indemnity) be under any obligation to indemnify the Trustee, the Manager or any Creditor of the Trustee in its capacity as trustee of the Trust in respect of any of the liabilities (actual, contingent or otherwise and whether due to any deficiency or not) of the Trustee or the Manager in relation to, arising from or in connection with the Assets of the Trust or the Trust generally.

No liability of Noteholders or Beneficiary. No Noteholder by reason of being a Noteholder, or Beneficiary by reason of being a Beneficiary, shall in respect of a Trust: (a) (liability) have any liability to make any contribution to the Assets of the Trust or any payment to the Trustee, the Trust Manager or any other person in relation to the Trust; and (b) (indemnity) be under any obligation to indemnify the Trustee, the Trust Manager or any Creditor of the Trustee in its capacity as trustee of the Trust in respect of any of the liabilities (actual, contingent or otherwise and whether due to any deficiency or not) of the Trustee or the Trust Manager in relation to, arising from or in connection with the Assets of the Trust or the Trust generally.