Trust Not a Partnership. It is hereby expressly declared that a trust and not a partnership is created hereby. No Trustee hereunder shall have the power to bind personally either the Trust officers or any Shareholder. All persons extending credit to, contracting with or having any claim against any Series of the Trust or any Class within a Series shall look only to the assets of such Series or Class for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust’s officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract or other undertaking issued by or on behalf of the Trust or the Trustees relating to the Trust or to a Series or Class shall include a recitation limiting the obligations represented thereby to the Trust or one or more Series or Classes and its or their assets (but the omission of such a recitation shall not operate to bind any Shareholder, Trustee, officer, employee or agent of the Trust).
Appears in 5 contracts
Samples: Forum Real Estate (Forum Real Estate Income Fund), Agreement and Declaration of Trust (Forum CRE Income Fund), Agreement and Declaration of Trust (VII Peaks Co-Optivist Income Fund)
Trust Not a Partnership. It is hereby expressly declared that a trust and not a partnership is created hereby. No Trustee hereunder shall have the power to bind personally either the Trust officers or any Shareholder. All persons extending credit to, contracting with or having any claim against any Series of the Trust or any Class within a Series shall look only to the assets of such Series or Class for payment under such credit, contract or claim; and neither the Shareholders nor the Trustees, nor any of the Trust’s officers, employees or agents, whether past, present or future, shall be personally liable therefor. Every note, bond, contract or other undertaking issued by or on behalf of the Trust or the Trustees relating to the Trust or to a Series or Class shall include a recitation limiting the obligations represented thereby to the Trust or one or more Series or Classes and its or their assets (but the omission of such a recitation shall not operate to bind any Shareholder, Trustee, officer, employee or agent of the Trust).
Appears in 4 contracts
Samples: Agreement and Declaration of Trust (Alti Private Equity Access & Commitments Fund), Agreement and Declaration of Trust (Peachtree Alternative Strategies Fund), Agreement and Declaration of Trust (ABS Global Equity Long/Short RIC)
