Several Obligations of the Trusts and the Funds. This Agreement is executed on behalf of the Board of Trustees of each Fund as Trustees and not individually and the obligations of this Agreement are not binding upon any of the Trustees or shareholders individually but are binding only upon the assets and property of each Fund severally and not jointly. With respect to any obligations of Customer arising out of this Agreement, Bank shall look for payment or satisfaction of any obligation solely to the assets of the Fund to which such obligation relates as though Bank had separately contracted by separate written instrument with respect to the Fund.
Appears in 108 contracts
Samples: Global Custody Agreement (Vanguard Scottsdale Funds), Global Custody Agreement (Vanguard Star Funds), Global Custody Agreement (Vanguard Malvern Funds)