Common use of Shareholder Liability Clause in Contracts

Shareholder Liability. The Manager understands and agrees that the obligations of the Trust under this Agreement are not binding upon any shareholder of the Trust personally, but bind only the Fund and the property of the Fund. The Manager represents that it has notice of the provisions of the Declaration of Trust of the Trust disclaiming shareholder liability for acts or obligations of the Trust.

Appears in 22 contracts

Samples: Investment Management Agreement (RESERVE Municipal Money-Market TRUST II), Investment Management Agreement (Reserve Municipal Money-Market Trust), Investment Management Agreement (Reserve Funds /Ny/)

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Shareholder Liability. The Manager understands and agrees that the obligations of the Trust under this Agreement are not binding upon any shareholder of the Trust personally, but bind only the Fund Portfolio and the property of the FundPortfolio. The Manager represents that it has notice of the provisions of the Declaration of Trust of the Trust disclaiming shareholder liability for acts or obligations of the Trust.

Appears in 10 contracts

Samples: Investment Management Agreement (Reserve Tax Exempt Trust), Investment Management Agreement (Reserve New York Tax Exempt Trust), Investment Management Agreement (Reserve Municipal Money Market Trust)

Shareholder Liability. The Manager understands and agrees that the obligations of the Trust under this Agreement are not binding upon any shareholder of the Trust personally, but bind only the Fund Trust and the property of the FundTrust's property. The Manager represents that it has notice of the provisions of the Declaration of Trust of the Trust disclaiming shareholder liability for acts or obligations of the Trust.

Appears in 5 contracts

Samples: Investment Management Agreement (Reserve Private Equity Series), Investment Management Agreement (Reserve Tax Exempt Trust), Investment Management Agreement (Reserve New York Tax Exempt Trust)

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Shareholder Liability. The Manager understands and agrees that the obligations of the Trust under this Agreement are not binding upon any shareholder of the Trust personally, but bind only the Fund each Portfolio and the property of the Fundeach Portfolio. The Manager represents that it has notice of the provisions of the Declaration of Trust of the Trust disclaiming shareholder liability for acts or obligations of the Trust.

Appears in 2 contracts

Samples: Investment Management Agreement (Reserve Funds /Ny/), Investment Management Agreement (Reserve Tax Exempt Trust)

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