Common use of Trust to be Administered Clause in Contracts

Trust to be Administered. as a Grantor Trust. Nothing in this Trust Agreement or any other agreement entered into by the Trust shall be construed to give the Trustee the power to vary the investments of the Beneficial Owners within the meaning of the Treasury Regulations Section 301.7701-4(c) or similar or successor provisions of the United States Treasury Regulations under the Code, nor shall the Depositor give the Trustee any direction that would vary the investment of the Beneficial Owners. The Trustee shall not be liable to any Person for the failure of the Trust to qualify as a grantor trust under the Code or any comparable provisions of the laws of any state or any other jurisdiction where such treatment is sought, provided that this sentence shall not limit the Trustee's responsibility for the administration of the Trust in accordance with this Trust Agreement.