Common use of Status of Shares and Limitation of Personal Liability Clause in Contracts

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 165 contracts

Samples: Agreement and Declaration of Trust (Palmer Square Funds Trust), Agreement and Declaration of Trust (Grayscale Funds Trust), Agreement and Declaration of Trust (Palmer Square Funds Trust)

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Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration instrument. Every shareholder by virtue of having become a Shareholder shall be held to have expressly assented and agreed to the terms hereof. The death, incapacity, dissolution, termination or bankruptcy of a Shareholder during the existence of the Trust shall not operate to terminate the Trust, nor entitle the By-Lawsrepresentative of any such Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees, and but entitles such representative only to the rights of such Shareholder under applicable lawthis Trust. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, Trust shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each ShareExcept as specifically provided herein, when issued on the terms determined by the Board of Trustees, no Shareholder shall be fully paid and nonassessablepersonally liable for the debts, liabilities, obligations or expenses incurred by, contracted for, or otherwise existing with respect to, the Trust or by or on behalf of any Series or Class. As provided in Every note, bond, contract or other undertaking issued by or on behalf of the DSTA, Shareholders shall be entitled Trust or Trustees relating to the same limitation Trust or to a Series or Class may include a recitation limiting the obligation represented thereby to the Trust or to one or more Series and its respective assets (but the omission of personal liability as that extended such a recitation shall not operate to stockholders of a private corporation organized for profit under the General Corporation Law bind any Shareholder or Trustee of the State of DelawareTrust).

Appears in 21 contracts

Samples: Trust Agreement (Virtus Solutions SMA Trust), Agreement and Declaration of Trust (Virtus Asset Trust), Agreement and Declaration of Trust (Virtus Alternative Solutions Trust)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part The ownership of the Trust Property or of every description and the right to conduct any business herein before described are vested exclusively in the Trustees, and the Shareholders shall have no interest therein other than the beneficial interest conferred by their Shares, and they shall have no right to call for a any partition or division of any property, profits, rights or interests of the same Trust nor can they be called upon to share or for assume any losses of the Trust or, subject to the right of the Trustees to charge certain expenses directly to Shareholders, suffer an accounting, nor shall the assessment of any kind by virtue of their ownership of Shares constitute Shares. Every Shareholder, by virtue of having purchased a Share, shall become a Shareholder and shall be held to have expressly assented and agreed to be bound by the Shareholders as partnersterms hereof and to have become a party hereto. Subject to Article VIII, Section 1 hereof, the The death, incapacity, dissolution, termination, termination or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve terminate the Trust or any such SeriesTrust, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt deceased Shareholder to an accounting or to take any action in court or elsewhere against the Trust, Trust or the Trustees or any such SeriesTrustees, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt such Shareholder under this Declaration of Trust. Ownership of Shares shall not constitute the Shareholders as partners. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, Trust shall have any power to bind personally any Shareholder. The Shares shall not entitle the holder to preference, norpreemptive, appraisal, conversion or exchange rights (except as specifically provided herein, to call upon any Shareholder for the payment specified in this Declaration of any sum of money other than such Trust or as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined specified by the Board Trustees when creating the Shares). No Shareholder of Trustees, the Trust shall be fully paid and nonassessablesubject in such capacity to any personal liability whatsoever to any Person in connection with Trust Property or the acts, obligations or affairs of the Trust. As provided in the DSTA, Shareholders shall be entitled to have the same limitation of personal liability as that is extended to stockholders of a private corporation organized for profit incorporated under the Delaware General Corporation Law of the State of DelawareLaw.

Appears in 19 contracts

Samples: Trust Agreement (Strive American Energy Income Fund), Agreement and Declaration of Trust (New Age Alpha Funds Trust), Trust Agreement (New Age Alpha Variable Funds Trust)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, Laws and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the The death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such SeriesTrust, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, Trust or the Trustees or any such SeriesTrustees, but entitles shall entitle such representative only to the rights rights, as a Shareholder under this Declaration of Trust and the By-Laws, of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of TrustShareholder. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, Trust shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 8 contracts

Samples: Agreement and Declaration of Trust (Franklin LTD Duration Income Trust), Trust Agreement (Franklin Templeton Strategic Income Trust), Trust Agreement (Templeton Global Income Fund Inc)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part The ownership of the Trust Property or and the right to conduct the business of the Trust and each Series described herein are vested exclusively in the Sponsor and the Trustee. The Shareholders of a Series shall have no interest therein other than the beneficial interest in such Series conferred by their Shares, and they shall have no right to call for a any partition or division of any Trust Property, rights or interests of the same Trust or for an accountinga Series, nor shall can they be called upon to share or assume any losses of the Trust or, subject to the right of the Sponsor to charge certain expenses directly to Shareholders, suffer an assessment of any kind by virtue of their ownership of Shares. Every Shareholder, by virtue of having purchased a Share, shall become a Shareholder of the Series whose Share or Shares constitute it has purchased and shall be held to have expressly assented and agreed to be bound by the Shareholders as partnersterms hereof and to have become a party hereto. Subject to Article VIII, Section 1 hereof, the The death, incapacity, dissolution, termination, termination or bankruptcy of a Shareholder during the existence of the Trust and any or a Series thereof shall not operate to dissolve terminate the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt deceased Shareholder to an accounting or to take any action in court or elsewhere against the TrustTrust or such Series, the Trustees Sponsor or any such Seriesthe Trustee, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt such Shareholder under this Declaration of Trust. Neither Ownership of Shares shall not constitute the Shareholders as partners. The Shares shall not entitle the holder to preference, preemptive, appraisal, conversion or exchange rights (except as specified in this Declaration of Trust or as specified by the Trust nor or the TrusteesSponsor when creating the Shares). No Shareholder of a Series shall be subject in such capacity to any personal liability whatsoever to any Person in connection with Trust Property or the acts, nor any officer, employee obligations or agent affairs of the Trust, . Shareholders shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that is extended to stockholders of a private corporation organized for profit incorporated under the Delaware General Corporation Law of the State of DelawareLaw.

Appears in 7 contracts

Samples: Agreement and Declaration of Trust, Agreement and Declaration of Trust (World Gold Trust), Agreement and Declaration of Trust (World Gold Trust)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part The ownership of the Trust Property or of every description and the right to conduct any business herein before described are vested exclusively in the Trustees, and the Shareholders shall have no interest therein other than the beneficial interest conferred by their Shares, and they shall have no right to call for a any partition or division of any property, profits, rights or interests of the same Trust nor can they be called upon to share or for assume any losses of the Trust or, subject to the right of the Trustees to charge certain expenses directly to Shareholders, suffer an accounting, nor shall the assessment of any kind by virtue of their ownership of Shares constitute Shares. Every Shareholder, by virtue of having purchased a Share, shall become a Shareholder and shall be held to have expressly assented and agreed to be bound by the Shareholders as partnersterms hereof and to have become a party hereto. Subject to Article VIII, Section 1 hereof, the The death, incapacity, dissolution, termination, termination or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve terminate the Trust or any such SeriesTrust, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt deceased Shareholder to an accounting or to take any action in court or elsewhere against the Trust, Trust or the Trustees or any such SeriesTrustees, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt such Shareholder under this Declaration of Trust. Ownership of Shares shall not constitute the Shareholders as partners. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, Trust shall have any power to bind personally any Shareholder. The Shares shall not entitle the holder to preference, norpreemptive, appraisal, conversion or exchange rights (except as specified in this Declaration of Trust or as specified by the Trustees when creating the Shares). No Shareholder of the Trust shall be subject in such capacity to any personal liability whatsoever to any Person in connection with Trust Property or the acts, obligations or affairs of the Trust, except as specifically provided herein, to call upon any Shareholder for the payment by reason of any sum of money other than such as the Shareholder may at any time personally agree to payhis or her own acts or conduct. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to have the same limitation of personal liability as that is extended to stockholders of a private corporation organized for profit incorporated under the Delaware General Corporation Law of the State of DelawareLaw.

Appears in 7 contracts

Samples: Agreement and Declaration of Trust (Catholic Responsible Investments Funds), Trust Agreement (Frost Family of Funds), Trust Agreement (Catholic Responsible Investments Funds)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration instrument. Every Shareholder by virtue of having become a Shareholder shall be held to have expressly assented and agreed to the terms hereof. The death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust shall not operate to terminate the Trust, nor entitle the By-Lawsrepresentative of any such Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees, and but entitles such representative only to the rights of such Shareholder under applicable lawthis Trust. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition participation or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIIINo Shareholder shall be personally liable for the debts, Section 1 hereofliabilities, the deathobligations and expenses incurred by, incapacity, dissolution, terminationcontracted for, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve otherwise existing with respect to, the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee employee, or agent of the Trust, Trust shall have any power to bind personally any ShareholderShareholders, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, The Shareholders shall be entitled entitled, to the fullest extent permitted by applicable law, to the same limitation of personal liability as that is extended under the Delaware General Corporation Law to stockholders of a private corporation organized corporations for profit under the General Corporation Law profit. Every note, bond, contract, or other undertaking issued by or on behalf of the State Trust or the Trustees relating to the Trust or to any Series shall include a recitation limiting the obligation represented thereby to the Trust and its assets or to one or more Series and the assets belonging thereto (but the omission of Delawaresuch a recitation shall not operate to bind any Shareholder or Trustee of the Trust).

Appears in 6 contracts

Samples: Trust Agreement (Axa Enterprise Funds Trust), Trust Agreement (Equitable Premier Funds Trust), Trust Agreement (Equitable Trust/Ny/)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration instrument. Every Shareholder, by virtue of having become a Shareholder, shall be held to have expressly assented and agreed to the terms hereof. The death, incapacity, dissolution, termination or bankruptcy of a Shareholder during the existence of the Trust shall not operate to dissolve the Trust, nor entitle the By-Lawsrepresentative of any such Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees, and but entitles such representative only to the rights of such Shareholder under applicable lawthis Trust. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, Trust shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each ShareExcept as specifically provided herein, when issued on the terms determined by the Board of Trustees, no Shareholder shall be fully paid and nonassessablepersonally liable for the debts, liabilities, obligations or expenses incurred by, contracted for, or otherwise existing with respect to, the Trust or by or on behalf of any Series or Class. As provided in Every note, bond, contract or other understanding issued by or on behalf of the DSTA, Shareholders shall be entitled Trust or Trustees relating to the same limitation Trust or to a Series or Class may include a recitation limiting the obligation represented thereby to the Trust or to one or more Series or Class and its respective assets (but the omission of personal liability as that extended such a recitation shall not operate to stockholders of a private corporation organized for profit under the General Corporation Law bind any Shareholder or Trustee of the State of DelawareTrust).

Appears in 6 contracts

Samples: Agreement and Declaration of Trust (First Eagle Variable Funds), Agreement and Declaration of Trust (First Eagle Funds), Trust Agreement (First Eagle Funds Inc)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 2 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 5 contracts

Samples: Agreement and Declaration of Trust (Delaware Enhanced Global Dividend & Income Fund), Agreement and Declaration of Trust (Franklin Global Trust), Agreement and Declaration of Trust (Delaware Investments Enhanced Global Dividend & Income Fund)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-LawsBylaws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust, the Bylaws and applicable law. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of TrusteesBoard, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of DelawareDGCL.

Appears in 5 contracts

Samples: Trust Agreement (Bennett Group Master Funds), Agreement and Declaration of Trust (Bennett Global Funds), Agreement and Declaration of Trust (Nationwide Variable Insurance Trust)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such SeriesTrust, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, Trust or the Trustees or any such SeriesTrustees, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 5 contracts

Samples: Agreement and Declaration of Trust (BMO LGM Frontier Markets Equity Fund), Trust Agreement (BMO LGM Frontier Markets Equity Fund), Agreement and Declaration of Trust (EGA Frontier Diversified Core Fund)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-LawsBylaws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated terminated, or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees Trustees, or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated terminated, or bankrupt Shareholder under this Declaration of Trust, the Bylaws and applicable law. Neither the Trust nor the Trustees, nor any officer, employee employee, or agent of the Trust, shall have any power to bind personally any Shareholder, Shareholder nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may personally, at any time personally may agree to paypay at any time. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of DelawareDGCL.

Appears in 5 contracts

Samples: Agreement and Declaration of Trust (Dimensional Emerging Markets Value Fund), Agreement and Declaration of Trust (AssetMark Funds II), Trust Agreement (AssetMark Funds II)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-LawsBylaws, and under applicable law. Ownership of Shares shall not entitle the Shareholder Shareholders to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated terminated, or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees Trustees, or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated terminated, or bankrupt Shareholder under this Declaration of Trust, the Bylaws and applicable law. Neither the Trust nor the Trustees, nor any officer, employee employee, or agent of the Trust, shall have any power to bind personally any Shareholder, Shareholder nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may personally, at any time personally may agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of DelawareDGCL.

Appears in 5 contracts

Samples: Agreement and Declaration of Trust (Dfa Investment Trust Co), Agreement and Declaration of Trust (Dfa Investment Trust Co), Agreement and Declaration of Trust (Dfa Investment Trust Co)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, DT1 931951v4 08/11/11 incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or nor agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of DelawareDelaware (8 Del. C. §§101 et seq.).

Appears in 3 contracts

Samples: Trust Agreement (Manor Investment Funds Inc), Trust Agreement (Manor Investment Funds Inc), Trust Agreement (Manor Investment Funds Inc)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, . Every Shareholder by virtue of having become a Shareholder shall be bound by the terms hereof and to the terms of any By-LawsLaws adopted pursuant to Section 4.5 hereof. The death, and incapacity, dissolution, termination or bankruptcy of a Shareholder during the existence of the Trust or an applicable Series shall not operate to terminate the Trust or any Series, nor entitle the representative of any such Shareholder to an accounting or to take any action in court or elsewhere against the Trust, any Series or the Trustees, but entitles such representative only to the rights of such Shareholder under applicable lawthis Declaration of Trust. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the assets held with respect to the applicable Series or any other Series or the assets of the Trust Property generally or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIIIFor the avoidance of doubt, Section 1 hereofShareholders shall have no rights, the deathprivileges, incapacity, dissolution, termination, claims or bankruptcy of a Shareholder during the existence of the Trust and remedies under any Series thereof shall not operate to dissolve contract or agreement entered into by the Trust or any such SeriesSeries thereof with any service provider or other agent to or contractor with the Trust or a Series thereof, nor entitle the representative including, without limitation, any third party beneficiary rights. None of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, Trust shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, No Shareholder shall be fully paid personally liable for the debts, liabilities, obligations and nonassessableexpenses incurred by, contracted for, or otherwise existing with respect to, the Trust or any Series or Class. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized corporations for profit organized under the General Corporation Law general corporation law of the State of Delaware.

Appears in 3 contracts

Samples: Agreement and Declaration of Trust (American Beacon Institutional Funds Trust), Amended and Restated Agreement and Declaration of Trust (American Beacon Apollo Total Return Fund), Amended and Restated Agreement and Declaration of Trust (American Beacon Sound Point Enhanced Income Fund)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-LawsBylaws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such SeriesTrust, nor entitle the representative of any deceased, incapacitated, dissolved, terminated terminated, or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such SeriesTrustees, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated terminated, or bankrupt Shareholder under this Declaration of Trust, the Bylaws and applicable law. Neither the Trust nor the Trustees, nor any officer, employee employee, or agent of the Trust, shall have any power to bind personally any Shareholder, Shareholder nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may personally, at any time personally may agree to paypay at any time. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of DelawareDGCL.

Appears in 3 contracts

Samples: Trust Agreement (USQ Core Real Estate Fund), Trust Agreement (GuideMark Alternative Lending Income Fund), Agreement and Declaration of Trust (GuideMark Alternative Lending Income Fund)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part The ownership of the Trust Property or and the right to conduct the business of the Trust described herein are vested exclusively in the Sponsor and the Trustee. The Shareholders shall have no interest therein other than the beneficial interest conferred by their Shares, and they shall have no right to call for a any partition or division of any Trust Property, rights or interests of the same or for an accountingTrust, nor shall can they be called upon to share or assume any losses of the Trust or suffer an assessment of any kind by virtue of their ownership of Shares constitute Shares. Every Shareholder, by virtue of having purchased a Share, shall become a Shareholder of the Shareholders as partnersTrust and shall be held to have expressly assented and agreed to be bound by the terms hereof and to have become a party hereto. Subject to Article VIII, Section 1 hereof, the The death, incapacity, dissolution, termination, termination or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve terminate the Trust or any such SeriesTrust, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt deceased Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees Sponsor or any such Seriesthe Trustee, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt such Shareholder under this Declaration Trust Agreement. Ownership of TrustShares shall not constitute the Shareholders as partners. Neither The Shares shall not entitle the holder to preference, preemptive, appraisal, conversion or exchange rights (except as specified in this Trust Agreement or as specified by the Trust nor or the TrusteesSponsor when creating the Shares). No Shareholder shall be subject in such capacity to any personal liability whatsoever to any Person in connection with Trust Property or the acts, nor any officer, employee obligations or agent affairs of the Trust, . Shareholders shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that is extended to stockholders of a private corporation organized for profit incorporated under the Delaware General Corporation Law of the State of DelawareLaw.

Appears in 2 contracts

Samples: Declaration of Trust and Trust Agreement (Bitwise Ethereum ETF), Declaration of Trust and Trust Agreement (Bitwise Bitcoin ETF)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust. Every Shareholder by virtue of having become a Shareholder shall be held to have expressly assented and agreed to the terms hereof. No Shareholder, as such, shall be personally liable for the debts, liabilities, obligations and expenses incurred by, contracted for, or otherwise existing with respect to, the By-LawsTrust or any Series. Shareholders, and as such, shall have the same limitation of personal liability as is extended to Stockholders of a private corporation for profit organized under applicable lawthe General Corporation Law of the State of Delaware. Every written obligation of the Trust or any Series shall contain a statement to the effect that such obligation may only be enforced against the assets of the Trust or such Series; however, the omission of such statement shall not operate to bind or create personal liability for any Shareholder or Trustee or any other Series. The death, incapacity, dissolution, termination or bankruptcy of a Shareholder during the existence of the Trust shall not operate to terminate the Trust, nor entitle the representative of any such Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees, but entitles such representative only to the rights of such Shareholder under this Trust. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, Trust shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on Ownership of Shares shall not make the terms determined Shareholders third-party beneficiaries of any contract entered into by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of DelawareTrust.

Appears in 2 contracts

Samples: Agreement and Declaration of Trust (Putnam ETF Trust), Agreement and Declaration of Trust (Putnam ETF Trust)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust. Every Shareholder by virtue of having become a Shareholder shall be held to have expressly assented and agreed to the terms hereof. The death, incapacity, dissolution, termination or bankruptcy of a Shareholder during the By-Lawsexistence of the Trust or an applicable Series shall not operate to terminate the Trust or such Series, and nor entitle the representative of any such Shareholder to an accounting or to take any action in court or elsewhere against the Trust, such Series or the Trustees, but entitles such representative only to the rights of such Shareholder under applicable lawthis Declaration of Trust. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or assets with respect to the applicable Series, or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy None of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor or any officer, employee or agent of the Trust, Trust or any Series shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, No Shareholder shall be fully paid personally liable for the debts, liabilities, obligations and nonassessableexpenses incurred by, contracted for, or otherwise existing with respect to, the Trust or any Series. As provided in the DSTA, Shareholders shall be entitled entitled, to the fullest extent permitted by applicable law, to the same limitation of personal liability as that is extended under the Delaware General Corporation Law to stockholders of a private corporation organized corporations for profit under the General Corporation Law of the State of Delawareprofit.

Appears in 2 contracts

Samples: Agreement and Declaration of Trust (1290 Funds), Agreement and Declaration of Trust (1290 Funds)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration instrument. Every Shareholder by virtue of having become a Shareholder shall be held to have expressly assented and agreed to the terms hereof and to have become a party hereto. The death of a Shareholder during the continuance of the Trust shall not operate to terminate the same nor entitle the representative of any deceased Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees, but only to the rights of said decedent under this Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject Shareholders shall not be subject to Article VIII, Section 1 hereof, any personal liability for the death, incapacity, dissolution, termination, acts or bankruptcy obligations of the Trust. The rights accruing to a Shareholder during under this Section 3.7 shall not exclude any other right to which such Shareholder may be lawfully entitled, nor shall anything herein contained restrict the existence right of the Trust and to indemnify or reimburse a Shareholder in any Series thereof shall appropriate situation even though not operate to dissolve specifically provided for herein; however, a Shareholder of any series of the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder shall be indemnified only from assets belonging to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trustthat series. Neither the Trust nor the Trustees, nor any officer, employee or nor agent of the Trust, Trust shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As except as provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delawareherein.

Appears in 2 contracts

Samples: Agreement and Declaration of Trust (Cavanal Hill Funds), Agreement and Declaration of Trust (Cavanal Hill Funds)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-LawsBylaws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated terminated, or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees Trustees, or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated terminated, or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee employee, or agent of the Trust, shall have any power to bind personally any Shareholder, Shareholder nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may personally, at any time personally may agree to paypay at any time. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Genworth Variable Insurance Trust)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the The death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of TrustTrust and the By-Laws. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 1 contract

Samples: Trust Agreement (Franklin Mutual Recovery Fund)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder # 3254751 v. 1 to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Franklin Tax Free Trust)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration instrument. Every Shareholder by virtue of having become a Shareholder shall be held to have expressly assented and agreed to the terms hereof and to have become a party hereto. The death of a Shareholder during the existence of the Trust shall not operate to terminate the Trust, nor entitle the By-Lawsrepresentative of any deceased Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees, and but entitles such representative only to the rights of said deceased Shareholder under applicable lawthis Trust. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIIINo Shareholder shall be personally liable for the debts, Section 1 hereofliabilities, the deathobligations and expenses incurred by, incapacity, dissolution, terminationcontracted for, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve otherwise existing with respect to, the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, Trust shall have any power to bind personally any ShareholderShareholders, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to have the same limitation of personal liability as that is extended to stockholders Shareholders of a private corporation organized for profit under the General Corporation Law of incorporated in the State of Delaware. Every written obligation of the Trust or any Series shall contain a statement to the effect that such obligation may only be enforced against the assets of the Trust or such Series; however, the omission of such statement shall not operate to bind or create personal liability for any Shareholder or Trustee.

Appears in 1 contract

Samples: Trust Agreement (Morgan Grenfell Investment Trust)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust # 1339629 v. 2 nor the Trustees, nor any officer, employee or agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 1 contract

Samples: Trust Agreement (Franklin Value Investors Trust)

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Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, Laws and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the The death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such SeriesTrust, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, Trust or the Trustees or any such SeriesTrustees, but entitles shall entitle such representative only to the rights rights, as a Shareholder under this Declaration of Trust and the By-Laws, of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of TrustShareholder. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, Trust shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTADBTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 1 contract

Samples: Trust Agreement (Templeton Emerging Markets Fund Inc)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration instrument. Every Shareholder by virtue of having become a Shareholder shall be held to have expressly assented and agreed to the terms hereof. The death, incapacity, dissolution, termination or bankruptcy of a Shareholder during the existence of the Trust shall not operate to terminate the Trust, nor entitle the By-Lawsrepresentative of any such Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees, and but entitles such representative only to the rights of such Shareholder under applicable lawthis Trust. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, Trust shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each ShareExcept as specifically provided herein, when issued on the terms determined by the Board of Trustees, no Shareholder shall be fully paid and nonassessablepersonally liable for the debts, liabilities, obligations or expenses incurred by, contracted for, or otherwise existing with respect to, the Trust or by or on behalf of any Series or Class. As provided in Every note, bond, contract or other understanding issued by or on behalf of the DSTA, Shareholders shall be entitled Trust or Trustees relating to the same limitation Trust or to a Series or Class may include a recitation limiting the obligation represented thereby to the Trust or to one or more Series or Class and its respective assets (but the omission of personal liability as that extended such a recitation shall not operate to stockholders of a private corporation organized for profit under the General Corporation Law bind any Shareholder or Trustee of the State of DelawareTrust).

Appears in 1 contract

Samples: Trust Agreement (Euclid Mutual Funds)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.and

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Franklin Strategic Series)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration Declaratio n of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, shall have any power to bind personally any ShareholderShareholder , nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 1 contract

Samples: Amended and Restated Agreement and Declaration of Trust (Templeton Income Trust)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Every Shareholder by virtue of having become a Shareholder shall be held to have expressly assented and agreed to the terms hereof and to have become bound as a party hereto. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTADBTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 1 contract

Samples: Trust Agreement (Templeton Developing Markets Trust)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, . Among the rights Shareholders shall not have unless expressly provided by the By-Laws, if any, or expressly provided by law and not permitted to be waived are rights to: (i) enforce contractual claims of the Trust or any Series, (ii) assert claims against the Trust or any Series or its Trustees, Officers or service providers, or (iii) bring a claim on behalf of any other Shareholder. Every Shareholder by virtue of having become a Shareholder shall be held to have expressly assented and agreed to the terms of this Declaration of Trust and the By-Laws (each as amended from time to time) and to have become a party thereto. The death of a Shareholder during the continuance of the Trust shall not operate to terminate the same nor entitle the representative of any deceased Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees, but entitles such representative only to the rights of said deceased Shareholder under applicable lawthis Trust. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, Trust shall have any power to bind personally any ShareholderShareholders, nor, nor except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (GMO Series Trust)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part The ownership of the Trust Property or of every description and the right to conduct any business herein before described are vested exclusively in the Sponsor and the Trustee, and the Unitholders shall have no interest therein other than the beneficial interest in a Series conferred by their Shares, and they shall have no right to call for a any partition or division of any property, profits, rights or interests of the same Trust or for an accountinga Series, nor shall can they be called upon to share or assume any losses of the Trust or, subject to the right of the Sponsor [or the Trustee] to charge certain expenses directly to Unitholders, suffer an assessment of any kind by virtue of their ownership of Shares constitute Shares. Every Unitholder, by virtue of having purchased a Share, shall become a Unitholder of the Shareholders as partnersSeries whose Share sit had purchased and shall be held to have expressly assented and agreed to be bound by the terms hereof and to have become a party hereto. Subject to Article VIII, Section 1 hereof, the The death, incapacity, dissolution, termination, termination or bankruptcy of a Shareholder Unitholder during the existence of the Trust and any or a Series thereof shall not operate to dissolve terminate the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder deceased Unitholder to an accounting or to take any action in court or elsewhere against the TrustTrust or such Series, the Trustees Sponsor or any such Seriesthe Trustee, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder such Unitholder under this Declaration of Trust. Ownership of Shares shall not constitute the Unitholders as partners. Neither the Trust nor the TrusteesSponsor, Trustee, nor any officer, employee or agent of the Trust, Trust shall have any power to bind personally any ShareholderUnitholder. The Shares shall not entitle the holder to preference, norpreemptive, appraisal, conversion or exchange rights (except as specifically provided herein, to call upon any Shareholder for the payment specified in this Declaration of any sum of money other than such Trust or as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined specified by the Board Trust or the Sponsor when creating the Shares). No Unitholder of Trustees, a Series shall be fully paid and nonassessablesubject in such capacity to any personal liability whatsoever to any Person in connection with Trust Property or the acts, obligations or affairs of the Trust. As provided in the DSTA, Shareholders Unitholders shall be entitled to have the same limitation of personal liability as that is extended to stockholders of a private corporation organized for profit incorporated under the Delaware General Corporation Law of the State of DelawareLaw.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Global Currency Gold Trust)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust or the Bylaws. Among the rights Shareholders shall not have unless expressly provided herein or by the Bylaws or expressly provided by law and not permitted to be waived are rights to: (i) enforce contractual claims of the Trust or any series, (ii) assert claims against the Trust or any series or its Trustees, Officers or service providers, (iii) assert derivative claims on behalf of the Trust or any series or involving any alleged harm to the Trust or any Series, or (iv) bring a claim on behalf of any other Shareholder. Every Shareholder by virtue of having become a Shareholder shall be held to have expressly assented and agreed to the terms of this Declaration of Trust and the Bylaws and to have become a party thereto. The death of a Shareholder during the continuance of the Trust shall not operate to terminate the same nor entitle the representative of any deceased Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees, but only to the rights of said decedent under this Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, Trust shall have any power to bind personally any Shareholder, nor, nor except as specifically provided herein, herein to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Goehring & Rozencwajg Investment Funds)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust. Every Shareholder by virtue of having become a Shareholder shall be held to have expressly assented and agreed to the Board by the terms hereof. The death, incapacity, dissolution, termination or bankruptcy of a Shareholder during the By-Lawsexistence of the Trust shall not operate to dissolve the Trust or any Series, and nor entitle the representative of each such Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees or any Series, but entitles such representative only to the rights of said Shareholder under applicable lawthis Declaration of Trust. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIIINo Shareholder shall be personally liable for the debts, Section 1 hereofliabilities, the deathobligations, incapacityand expenses incurred by, dissolution, terminationcontracted for, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate otherwise existing with respect to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each Share, All Shares when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTADBTA, Shareholders of the Trust shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law general corporation law of the State of Delaware.

Appears in 1 contract

Samples: Declaration of Trust (Lincoln National Aggressive Growth Fund Inc)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or nor agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 1 contract

Samples: Trust Agreement (Philadelphia Investment Partners New Generation Fund)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-LawsBylaws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. For the avoidance of doubt, Shareholders shall have no rights, privileges, claims or remedies under any contract or agreement entered into by the Trust with any service provider or other agent to or contractor with the Trust, including, without limitation, any third party beneficiary rights, except as may be expressly provided in any such contract or agreement. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such SeriesTrust, nor entitle the representative of any deceased, incapacitated, dissolved, terminated terminated, or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such SeriesTrustees, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated terminated, or bankrupt Shareholder under this Declaration of Trust, the Bylaws and applicable law. Neither the Trust nor the Trustees, nor any officer, employee employee, or agent of the Trust, shall have any power to bind personally any Shareholder, Shareholder nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may personally, at any time personally may agree to paypay at any time. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of DelawareDGCL.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (USQ Core Real Estate Fund)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part a. The ownership of the Trust Property or and the right to conduct the business of the Trust and each Series described herein are vested exclusively in the Sponsor and the Trustees. The Shareholders of a Series shall have no interest therein other than the beneficial interest in such Series conferred by their Shares, and they shall have no right to call for a any partition or division of any Trust Property, rights or interests of the same Trust or for an accountinga Series, nor shall can they be called upon to share or assume any losses of the Trust or, subject to the right of the Sponsor to charge certain expenses directly to Shareholders, suffer an assessment of any kind by virtue of their ownership of Shares. Every Shareholder, by virtue of having purchased a Share, shall become a Shareholder of the Series whose Share or Shares constitute it has purchased and shall be held to have expressly assented and agreed to be bound by the Shareholders as partnersterms hereof and to have become a party hereto. Subject to Article VIII, Section 1 hereof, the The death, incapacity, dissolution, termination, termination or bankruptcy of a Shareholder during the existence of the Trust and any or a Series thereof shall not operate to dissolve terminate the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt deceased Shareholder to an accounting or to take any action in court or elsewhere against the TrustTrust or such Series, the Trustees Sponsor or any such Seriesthe Trustees, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt such Shareholder under this Declaration of Trust. Neither Ownership of Shares shall not constitute the Shareholders as partners. The Shares shall not entitle the holder to preference, preemptive, appraisal, conversion or exchange rights (except as specified in this Declaration of Trust or as specified by the Trust nor or the TrusteesSponsor when creating the Shares). No Shareholder of a Series shall be subject in such capacity to any personal liability whatsoever to any Person in connection with Trust Property or the acts, nor any officer, employee obligations or agent affairs of the Trust, . Shareholders shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that is extended to stockholders of a private corporation organized for profit incorporated under the Delaware General Corporation Law of the State of DelawareLaw.

Appears in 1 contract

Samples: Trust Agreement

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, and under applicable law. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partnerspartners or joint venturers except as specifically provided for pursuant to Article III, Section 6 herein or by resolution of the Board of Trustees. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on the terms determined by the Board of Trustees, shall be fully paid and nonassessable. As provided in the DSTADBTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delaware.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Franklin Floating Rate Master Trust)

Status of Shares and Limitation of Personal Liability. (a) Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, the By-Laws, Trust and under applicable law. . (b) Every Shareholder by virtue of having become a Shareholder shall be held to have expressly assented and agreed to the terms hereof and to have become a party hereto. (c) The death of a Shareholder during the existence of the Trust shall not operate to dissolve the Trust or any Series, nor entitle the representative of any deceased Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees or any Series, but entitles such representative only to the rights of said deceased Shareholder under this Declaration of Trust. (d) Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIII, Section 1 hereof, the death, incapacity, dissolution, termination, or bankruptcy of a Shareholder during the existence of the Trust and any Series thereof shall not operate to dissolve the Trust or any such Series, nor entitle the representative of any deceased, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated or bankrupt Shareholder under this Declaration of Trust. . (e) Neither the Trust nor the Trustees, nor any officer, employee employee, or agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each Share, . (f) All Shares when issued on the terms determined by the Board of Trustees, Trustees shall be fully paid and nonassessable. As provided in the DSTADelaware Act, Shareholders of the Trust shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law general corporation law of the State of Delaware.

Appears in 1 contract

Samples: Trust Agreement (Tactical Investment Series Trust)

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving to Shareholders only the rights provided in this Declaration of Trust, Trust and the By-Laws. Every Shareholder, by virtue of having become a Shareholder, shall be held to have expressly assented and agreed to the terms of this Declaration of Trust and any other governing instrument and shall be bound thereby. The death of a Shareholder during the existence of the Trust shall not operate to terminate the Trust, nor entitle the representative of any deceased Shareholder to an accounting or to take any action in court or elsewhere against the Trust or the Trustees, but entitles such representative only to the rights of said deceased Shareholder under applicable lawthis Trust. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Shareholders as partners. Subject to Article VIIIFor the avoidance of doubt, Section 1 hereofShareholders shall have no rights, the deathprivileges, incapacity, dissolution, termination, claims or bankruptcy of a Shareholder during the existence of the Trust and remedies under any Series thereof shall not operate to dissolve contract or agreement entered into by the Trust or any such SeriesSeries thereof with any service provider or other agent to or contractor with the Trust or a Series thereof, nor entitle the representative of including, without limitation, any deceasedthird party beneficiary rights, incapacitated, dissolved, terminated or bankrupt Shareholder to an accounting or to take any action except as may be expressly provided in court or elsewhere against the Trust, the Trustees or any such Series, but entitles such representative only to the rights of said deceased, incapacitated, dissolved, terminated contract or bankrupt Shareholder under this Declaration of Trustagreement. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust, shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. Each Share, when issued on provided however that any sales loads or charges, redemption fees, account fees or any other fees or charges not prohibited as charges to Shareholders under applicable federal law shall not be deemed to be an assessment for the terms determined by the Board purposes of Trustees, shall be fully paid and nonassessable. As provided in the DSTA, Shareholders shall be entitled to the same limitation of personal liability as that extended to stockholders of a private corporation organized for profit under the General Corporation Law of the State of Delawarethis Declaration.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (City National Rochdale Funds)

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