Common use of Trust Security Non-Assessable and Fully Paid Clause in Contracts

Trust Security Non-Assessable and Fully Paid. Holders of Trust Securities shall not be personally liable for obligations of the Trust, the interest in the Trust represented by the Trust Securities shall be non-assessable for any losses or expenses of the Trust or for any reason whatsoever and the Trust Securities upon issuance in accordance with the Trust Agreement are and shall be deemed fully paid.