Common use of SELLER AS TRUSTEE Clause in Contracts

SELLER AS TRUSTEE. 54.1 This clause only applies where the Seller is a Trustee. 54.2 The Seller enters into this Contract only in its capacity as trustee of the trust and in no other capacity. A liability arising under or in connection with this Contract can be enforced against the Seller only to the extent to which it can be satisfied out of property of the trust of which the Seller is actually indemnified for the liability. This limitation of the Seller’s liability applies despite any other provision of this Contract and extends to all liabilities and obligations of the Seller in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this Contract. 54.3 The parties other than the Seller may not sue the Seller personally or seek the appointment of a liquidator, administrator, receiver or similar person to the Seller or prove in any liquidation, administration or arrangement of or effecting the Seller. 54.4 The provisions of this clause shall not apply to any obligation or liability of the Seller to the extent that it is not satisfied because under the trust deed establishing the trust or by operation of law, there is a reduction in the extent of the Seller’s indemnification out of the assets of the trust, as a result of the Seller’s fraud, negligence or breach of trust.

SELLER AS TRUSTEE. 54.1 This clause only applies where the Seller is a Trustee. 54.2 The Seller enters into this Contract only in its capacity as trustee of the trust and in no other capacity. A liability arising under or in connection with this Contract can be enforced against the Seller only to the extent to which it can be satisfied out of property of the trust of which the Seller is actually indemnified for the liability. This limitation of the Seller’s liability applies despite any other provision of this Contract and extends to all liabilities and obligations of the Seller in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this Contract. 54.3 The parties other than the Seller may not sue xxx the Seller personally or seek the appointment of a liquidator, administrator, receiver or similar person to the Seller or prove in any liquidation, administration or arrangement of or effecting the Seller. 54.4 The provisions of this clause shall not apply to any obligation or liability of the Seller to the extent that it is not satisfied because under the trust deed establishing the trust or by operation of law, there is a reduction in the extent of the Seller’s indemnification out of the assets of the trust, as a result of the Seller’s fraud, negligence or breach of trust.

SELLER AS TRUSTEE. 54.1 55.1 This clause only applies where the Seller is a Trustee. 54.2 55.2 The Seller enters into this Contract only in its capacity as trustee of the trust and in no other capacity. A liability arising under or in connection with this Contract can be enforced against the Seller only to the extent to which it can be satisfied out of property of the trust of which the Seller is actually indemnified for the liability. This limitation of the Seller’s liability applies despite any other provision of this Contract and extends to all liabilities and obligations of the Seller in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this Contract. 54.3 55.3 The parties other than the Seller may not sue xxx the Seller personally or seek the appointment of a liquidator, administrator, receiver or similar person to the Seller or prove in any liquidation, administration or arrangement of or effecting the Seller. 54.4 55.4 The provisions of this clause shall not apply to any obligation or liability of the Seller to the extent that it is not satisfied because under the trust deed establishing the trust or by operation of law, there is a reduction in the extent of the Seller’s indemnification out of the assets of the trust, as a result of the Seller’s fraud, negligence or breach of trust.