Common use of Relief of Trustees from Certain Duties, Restrictions, and Liabilities Clause in Contracts

Relief of Trustees from Certain Duties, Restrictions, and Liabilities. Pursuant to Article 7425b-22 of the Texas Trust Act, the Trustor hereby relieves the Trustees from any or all duties, restrictions, and liabilities otherwise imposed upon the Trustees by the Texas Trust Act except for such duties, restrictions, and liabilities as are imposed (a) by Sections 10, 11, and 12 of the Texas Trust Act; (b) by the terms and conditions of this Trust Agreement; or (c) by any other applicable law, rule, or regulation.

Appears in 6 contracts

Samples: Working Interest Trust Agreement (Clayton Williams Energy Inc /De), Working Interest Trust Agreement (Clayton Williams Energy Inc /De), Working Interest Trust Agreement (Clayton Williams Energy Inc /De)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!