Series by Series Basis Sample Clauses

Series by Series Basis. The parties acknowledge that the obligations of the Funds and the Series hereunder are several and not joint, that no Fund or a Series shall be liable for any amount owing by another Fund or a Series and that each Fund has executed one instrument for convenience only. Notwithstanding any other provision in this Agreement to the contrary, each and every obligation, liability or undertaking of a particular Fund or Series under this Agreement shall constitute solely an obligation, liability or undertaking of, and be binding upon, such particular Fund or Series and shall be payable solely from the available assets of such particular Fund or Series and shall not be binding upon or affect any assets of any other Fund or Series. This Section 11.19 shall survive the termination of this Agreement. It is expressly acknowledged and agreed that the obligations of a Fund hereunder shall not be binding upon any of the shareholders, trustees, officers, employees or agents of a Fund, personally, but shall bind only the trust property of the particular Fund, as provided in its Declaration of Trust. The execution and delivery of this Agreement have been authorized by the trustees of a Fund and signed by an officer of a Fund, acting as such, and neither such authorization by such trustees nor such execution and delivery by such officer shall be deemed to have been made by any of them individually or to impose any liability on any of them personally, but shall bind only the trust property of a Fund as provided in its Declaration of Trust.