Common use of Responsibilities of Fiduciaries Clause in Contracts

Responsibilities of Fiduciaries. (A) The recitals of fact herein and in the Bonds contained shall be taken as the statements of the Trust and the Fiduciaries assume no responsibility for the correctness of the same. The duties and obligations of the Fiduciaries shall be determined by the express provisions of this Trust Agreement and any applicable Supplemental Trust Agreement and the Fiduciaries shall not be liable except for their respective performance of such duties and obligations as are specifically set forth herein or in any applicable Supplemental Trust Agreement and no further duties or obligations shall be implied. The Fiduciaries make no representations as to the ability or sufficiency of this Trust Agreement or of any Bonds issued thereunder or in respect of the security afforded by this Trust Agreement and the Fiduciaries shall incur no responsibility in respect thereof. The Master Trustee shall, however, be responsible for its representation contained in its certificate of authentication on the Bonds to the extent provided in Article 8, Section 208, as amended, of the Massachusetts Uniform Commercial Code or any other successor provision of law. No Fiduciary shall be under any responsibility or duty with respect to the issuance of the Bonds for value or the application of the proceeds thereof or the application of any moneys paid to the Trust. No Fiduciary shall be under any obligation or duty to perform any act which would involve it in expense or liability or to institute or defend any suit in respect hereof, or to advance any of its own moneys, unless properly indemnified. No Fiduciary shall be liable in connection with the performance of its duties hereunder except for its own negligence or willful misconduct nor shall any Fiduciary be liable for the action taken or omitted by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Trust Agreement. (B) All moneys held by a Fiduciary, as such, at any time pursuant to the terms of this Trust Agreement shall be and hereby are assigned, transferred and set over unto such Fiduciary in trust for the purposes and under the terms and conditions of this Trust Agreement.

Responsibilities of Fiduciaries. (A) The recitals of fact herein and in the Sales Tax Bonds contained shall be taken as the statements of the Trust Authority and the Fiduciaries assume no Fiduciary assumes any responsibility for the correctness of the same. The duties and obligations of the Fiduciaries shall be determined by the express provisions of this Trust Agreement and No Fiduciary makes any applicable Supplemental Trust Agreement and the Fiduciaries shall not be liable except for their respective performance of such duties and obligations as are specifically set forth herein or in any applicable Supplemental Trust Agreement and no further duties or obligations shall be implied. The Fiduciaries make no representations as to the ability validity or sufficiency of this Trust Agreement or of any Sales Tax Bonds issued thereunder or in respect of as to the security afforded by this Trust Agreement Agreement, and the Fiduciaries no Fiduciary shall incur no responsibility any liability in respect thereof. The Master Trustee shall, however, be responsible for its representation contained in its certificate of authentication on the Bonds to the extent provided in Article 8, Section 208, as amended, of the Massachusetts Uniform Commercial Code or any other successor provision of lawSales Tax Bonds. No Fiduciary shall be under any responsibility or duty with respect to the issuance authentication and delivery of the Sales Tax Bonds for value or the application of the proceeds thereof or the application of any moneys paid to the Trust. No Fiduciary shall be Authority or for the losses, fees, taxes or other charges incurred upon the purchase, sale or redemption of any securities purchased for or held in any Fund, Account or Subaccount under any obligation or duty to perform any act which would involve it in expense or liability or to institute or defend any suit in respect hereof, or to advance any of its own moneys, unless properly indemnifiedthis Trust Agreement. No Fiduciary shall be liable in connection with the performance of its duties hereunder except for its own negligence negligence, bad faith or willful misconduct nor shall any Fiduciary be liable for misconduct. Prior to the action taken or omitted by it occurrence of an Event of Default and after the curing of all Events of Default which may have occurred, the Trustee undertakes to perform such duties and only such duties as are specifically set forth in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Trust Agreement. (B) All moneys held by a Fiduciary, as such, at any time pursuant to Agreement and no implied covenants or obligations shall be read into this Trust Agreement against the terms Trustee. No provision of this Trust Agreement shall require any Fiduciary to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. No Fiduciary shall be and hereby are assignedunder any responsibility or duty with respect to any certificate, transferred and set over unto such Fiduciary in trust for report or opinion delivered to it hereunder except to examine it to determine that it conforms to the purposes and under the terms and conditions of this Trust Agreementprovisions hereof.

Responsibilities of Fiduciaries. (A) The recitals of fact herein and in the Bonds contained shall be taken as the statements of the Trust Authority and the Fiduciaries assume no responsibility for the correctness of the same. The duties and obligations of the Fiduciaries shall be determined by the express provisions of this Trust Agreement and any applicable Applicable Supplemental Trust Agreement and the Fiduciaries shall not be liable except for their respective performance of such duties and obligations as are specifically set forth herein or in any applicable Applicable Supplemental Trust Agreement and no further duties or obligations shall be implied. The Fiduciaries make no representations as to the ability or sufficiency of this Trust Agreement or of any Bonds issued thereunder or in respect of the security afforded by this Trust Agreement and the Fiduciaries shall incur no responsibility in respect thereof. The Master Trustee shall, however, be responsible for its representation contained in its certificate of authentication on the Bonds to the extent provided in Article 8, Section 208, as amended, of the Massachusetts Uniform Commercial Code or any other successor provision of law. No Fiduciary shall be under any responsibility or duty with respect to the issuance of the Bonds for value or the application of the proceeds thereof or the application of any moneys paid to the TrustAuthority. No Fiduciary shall be under any obligation or duty to perform any act which would involve it in expense or liability or to institute or defend any suit in respect hereof, or to advance any of its own moneys, unless properly indemnified. No Fiduciary shall be liable in connection with the performance of its duties hereunder except for its own negligence or willful misconduct bad faith nor shall any Fiduciary be liable for the action taken or omitted by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Trust Agreement. (B) All moneys held by a Fiduciary, as such, at any time pursuant to the terms of this Trust Agreement shall be and hereby are assigned, transferred and set over unto such Fiduciary in trust for the purposes and under the terms and conditions of this Trust Agreement.

Responsibilities of Fiduciaries. (A) The recitals of fact herein and in the Assessment Bonds contained shall be taken as the statements of the Trust Authority and the Fiduciaries assume no Fiduciary assumes any responsibility for the correctness of the same. The duties and obligations of the Fiduciaries shall be determined by the express provisions of this Trust Agreement and No Fiduciary makes any applicable Supplemental Trust Agreement and the Fiduciaries shall not be liable except for their respective performance of such duties and obligations as are specifically set forth herein or in any applicable Supplemental Trust Agreement and no further duties or obligations shall be implied. The Fiduciaries make no representations as to the ability validity or sufficiency of this Trust Agreement or of any Assessment Bonds issued thereunder or in respect of as to the security afforded by this Trust Agreement Agreement, and the Fiduciaries no Fiduciary shall incur no responsibility any liability in respect thereof. The Master Trustee shall, however, be responsible for its representation contained in its certificate of authentication on the Bonds to the extent provided in Article 8, Section 208, as amended, of the Massachusetts Uniform Commercial Code or any other successor provision of lawAssessment Bonds. No Fiduciary shall be under any responsibility or duty with respect to the issuance authentication and delivery of the Assessment Bonds for value or the application of the proceeds thereof or the application of any moneys paid to the Trust. No Fiduciary shall be Authority or for the losses, fees, taxes or other charges incurred upon the purchase, sale or redemption of any securities purchased for or held in any Fund, Account or Subaccount under any obligation or duty to perform any act which would involve it in expense or liability or to institute or defend any suit in respect hereof, or to advance any of its own moneys, unless properly indemnifiedthis Trust Agreement. No Fiduciary shall be liable in connection with the performance of its duties hereunder except for its own negligence negligence, bad faith or willful misconduct nor shall any Fiduciary be liable for misconduct. Prior to the action taken or omitted by it occurrence of an Event of Default and after the curing of all Events of Default which may have occurred, the Trustee undertakes to perform such duties and only such duties as are specifically set forth in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Trust Agreement. (B) All moneys held by a Fiduciary, as such, at any time pursuant to Agreement and no implied covenants or obligations shall be read into this Trust Agreement against the terms Trustee. No provision of this Trust Agreement shall require any Fiduciary to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. No Fiduciary shall be and hereby are assignedunder any responsibility or duty with respect to any certificate, transferred and set over unto such Fiduciary in trust for report or opinion delivered to it hereunder except to examine it to determine that it conforms to the purposes and under the terms and conditions of this Trust Agreementprovisions hereof.