Common use of No Personal Liability of Shareholders, Trustees, etc Clause in Contracts

No Personal Liability of Shareholders, Trustees, etc. No personal liability for any debt, liability or obligation or expense incurred by, contracted for, or otherwise existing with respect to, the Trust or any Series or Class shall attach to any Shareholder or former Shareholder of the Trust. In case any Shareholder or former Shareholder of the Trust shall be held to be personally liable solely by reason of his being or having been a Shareholder and not because of his acts or omissions or for some other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives or in the case of a corporation or other entity, its corporate or other general successor) shall be entitled out of the assets of the Trust or, if the Trust has more than one Series, the applicable Series, to be held harmless from and indemnified against all loss and expense arising from such liability; provided however that there shall be no liability or obligation of the Trust or any Series arising hereunder to reimburse any Shareholder for taxes paid by reason of such Shareholder’s ownership of any Shares or for losses suffered by reason of any changes in value of any Trust assets. The Trust shall, upon request by the Shareholder or former Shareholder, assume the defense of any claim made against the Shareholder for any act or obligation of the Trust and satisfy any judgment thereon.

No Personal Liability of Shareholders, Trustees, etc. No Shareholder shall be subject to any personal liability for any debtwhatsoever in connection with Trust Property or the acts, liability debts, liabilities, expenses, obligations or obligation or expense incurred by, contracted for, or otherwise existing with respect to, affairs of the Trust or a particular Series. All Persons extending credit to, contracting with or having any Series or Class shall attach to any Shareholder or former Shareholder of the Trust. In case any Shareholder or former Shareholder of claim against the Trust or a particular Series shall be held look only to be personally liable solely by reason of his being or having been a Shareholder and not because of his acts or omissions or for some other reason, the Shareholder or former Shareholder (or his heirs, executors, administrators or other legal representatives or in the case of a corporation or other entity, its corporate or other general successor) shall be entitled out of the assets of the Trust oror such Series for payment under such credit, if contract or claim, and neither the Trust has more than one SeriesShareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, nor any other Series shall be personally liable therefor. The Trustees shall not be responsible or liable in any event for any neglect or wrong doing of any officer, employee or agent (including, without limitation, the applicable SeriesInvestment Adviser, to any Investment Sub-Adviser, the Distributor, the Custodian and the Transfer Agent) of the Trust, nor shall any Trustee be held harmless from and indemnified against all loss and expense arising from such liability; provided however that there shall be no liability responsible or obligation liable for the act or omission of any other Trustee. Nothing in this Declaration shall, however, protect any Trustee, officer, employee or agent of the Trust or against any Series arising hereunder liability to reimburse any Shareholder for taxes paid which such Person would otherwise be subject by reason of such Shareholder’s ownership of any Shares willful misfeasance, bad faith, gross negligence or for losses suffered by reason of any changes in value of any Trust assets. The Trust shall, upon request by the Shareholder or former Shareholder, assume the defense of any claim made against the Shareholder for any act or obligation reckless disregard of the Trust and satisfy any judgment thereonduties involved in the conduct of his or her office.