Common use of Notice of Limitation of Liability Clause in Contracts

Notice of Limitation of Liability. The Board of Trustees or the Manager shall use its best efforts, in the conduct of the Trust's business, to put all suppliers and other Persons with whom the Trust does business on notice that the Shareholders, the Trustees, and the Manager are not liable for the Trust's obligations and that such suppliers and other Persons shall look solely to the assets of the Trust for payment, and all agreements to which the Trust is a party shall include a statement to the effect that the Trust is a statutory trust organized under the Trust Act; but the Board of Trustees or the Manager shall not be liable for any failure to give such notice to such suppliers or other Persons and any failure in giving such notice shall not imply that the Shareholders, the Managing Trustees, the Manager and the Registered Trustee are liable for the Trust's obligations.

Appears in 3 contracts

Samples: Trust Agreement (Chartermac), Trust Agreement (Charter Municipal Mortgage Acceptance Co), Trust Agreement (Chartermac)

AutoNDA by SimpleDocs

Notice of Limitation of Liability. The Board of Trustees or the Manager shall use its best efforts, in the conduct of the Trust's business, to put all suppliers and other Persons with whom the Trust does business on notice that the Shareholders, the Trustees, and the Manager are not liable for the Trust's obligations and that such suppliers and other Persons shall look solely to the assets of the Trust for payment, and all agreements to which the Trust is a party shall include a statement to the effect that the Trust is a statutory business trust organized under the Trust Act; but the Board of Trustees or the Manager shall not be liable for any failure to give such notice to such suppliers or other Persons and any failure in giving such notice shall not imply that the Shareholders, the Managing Trustees, the Manager and the Registered Trustee are liable for the Trust's obligations.

Appears in 2 contracts

Samples: Trust Agreement (Charter Municipal Mortgage Acceptance Co), Trust Agreement (Charter Municipal Mortgage Acceptance Co)

Notice of Limitation of Liability. The Board of Trustees or the Manager shall use its best efforts, in the conduct of the Trust's business, to put all suppliers and other Persons with whom the Trust does business on notice that the Shareholders, the Trustees, and the Manager are not liable for the Trust's obligations and that such suppliers and other Persons shall look solely to the assets of the Trust for payment, and all agreements to which the Trust is a party shall include a statement to the effect that the Trust is a statutory business trust organized created under the Trust Act; but the Board of Trustees or the Manager shall not be liable for any failure to give such notice to such suppliers or other Persons and any failure in giving such notice shall not imply that the Shareholders, the Managing Trustees, the Manager and the Registered Trustee are liable for the Trust's obligations.

Appears in 1 contract

Samples: Trust Agreement (Charter Municipal Mortgage Acceptance Co)

AutoNDA by SimpleDocs

Notice of Limitation of Liability. The Board of Trustees or the Manager Manager(s) shall use its their best efforts, in the conduct of the Trust's ’s business, to put all suppliers and other Persons with whom the Trust does business on notice that the Shareholders, the Trustees, and the Manager Manager(s) are not liable for the Trust's ’s obligations and that such suppliers and other Persons shall look solely to the assets of the Trust for payment, and all agreements to which the Trust is a party shall include a statement to the effect that the Trust is a statutory trust organized under the Trust Act; but the Board of Trustees or the Manager Manager(s) shall not be liable for any failure to give such notice to such suppliers or other Persons and any failure in giving such notice shall not imply that the Shareholders, the Managing Trustees, the Manager Manager(s) and the Registered Trustee are liable for the Trust's ’s obligations.

Appears in 1 contract

Samples: Trust Agreement (Centerline Holding Co)

Time is Money Join Law Insider Premium to draft better contracts faster.