Common use of RESPONSIBLE ENTITY'S LIMITATION OF LIABILITY Clause in Contracts

RESPONSIBLE ENTITY'S LIMITATION OF LIABILITY. Except as otherwise provided in this SECTION 10, because WAML enters into this Agreement only in its capacity as responsible entity and trustee of WAT, WAML is liable under this Agreement only up to the extent to which it is actually indemnified out of the assets of WAT. WAML is only personally liable to the extent that it is not actually indemnified because it is fraudulent, negligent, or in breach of trust. If WAML is not personally liable, the parties other than WAML must not xxx WAML personally or seek to wind it up to recover any outstanding money, and WAML is entitled to plead this clause as a bar to the taking of any such proceedings. Nothing contained in SECTION 10 limits the right of any party to bring action for performance by WAML or limit any party's right to recover damages from the assets of WAT to the extent that WAML is liable under this Agreement.

RESPONSIBLE ENTITY'S LIMITATION OF LIABILITY. Except as otherwise provided in this SECTION 10, Section 10 because WAML enters into this Agreement only in its capacity as responsible entity and trustee of WAT, WAML is liable under this Agreement only up to the extent to which it is actually indemnified out of the assets of WAT. WAML is only personally liable to the extent that it is not actually indemnified because it is fraudulent, negligent, or in breach of trust. If WAML is not personally liable, the parties other than WAML must not xxx WAML personally or seek to wind it up to recover any outstanding money, and WAML is entitled to plead this clause as a bar to the taking of any such proceedings. Nothing contained in SECTION Section 10 limits the right of any party to bring action for performance by WAML or limit any party's right to recover damages from the assets of WAT to the extent that WAML is liable under this Agreement.