Trustee Exculpation Sample Clauses

Trustee Exculpation. When this Agreement is executed by the trustee of any trust, such execution is by the trustee, not individually but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing herein contained shall be construed as creating any liability on any such trustee personally to pay any amounts required to be paid hereunder or to perform any covenant, either express or implied, contained herein, all such liability, if any, being expressly waived by the parties hereto by their execution hereof. Any liability of any party which is a trust under this Agreement shall be only that of such trust to the full extent of its trust estate and shall not be a personal liability of any trustee, grantor or beneficiary thereof.

Trustee Exculpation. Each trustee executing this Agreement is executing the same solely in his capacity as a trustee of one or more of the Hyatt Owning Trusts. All obligations and liabilities of any trustee executing this Agreement shall be satisfied solely out of the assets of the trust or trusts on whose behalf such trustee is executing this Agreement, and such trustee shall not be personally liable for the satisfaction of any of such obligations or liabilities as a result of his execution of this Agreement. [Signature Pages to Follow]

Trustee Exculpation. When this Agreement is executed by the trustee of any trust, such execution is by the trustee, not individually but solely as trustee in the exercise of and under the power and authority conferred upon and invested in such trustee, and it is expressly understood and agreed that nothing herein contained shall be construed as creating any liability on any such trustee personally to pay any amounts required to be paid hereunder, or to perform any covenant, either express or implied, contained herein, all such liability, if any, being expressly waived by the parties hereto by their execution hereof. Any liability hereunder of any Stockholder which is a trust shall be only that of such trust to the full extent of its trust estate and shall not be a personal liability of any trustee, grantor or beneficiary thereof.

Trustee Exculpation. The execution of this Agreement by the trustees of the Gellein Trust, Xxxxx Trust and X. Xxxxxxx Trust is by such trustees, not individually, but solely in their capacities as trustees, and nothing contained herein shall be deemed to impose any personal liability on such trustees individually.

Trustee Exculpation. Notwithstanding any provision of this Agreement, the parties hereto acknowledge and agree that any Trustee who is a signatory to this Agreement is not acting in his, her or its individual capacity when signing on behalf of the Trust, but is acting solely as trustee of the Trust and any reference herein to Trustees shall be deemed to reference that Trustee solely in its capacity as trustee of the Trust and such Trustee shall not be liable personally to any other party for an actual or alleged breach of any provision contained this

Trustee Exculpation. The execution of this Agreement by a trustee on behalf of a trust shall not create any liability of, or require performance of any covenant or agreement by the trustee individually, such liability being limited to the assets of the trust on behalf of which this Agreement is being executed by a trustee.

Trustee Exculpation. This Memorandum of Lease is executed by LaSalle ------------------- National Trust, N.A. as successor Trustee to LaSalle National Bank, not personally but solely as Trustee under Trust No. 45197 as aforesaid, in the exercise of the power and authority conferred upon and vested in said Trustee as such, and it is expressly understood and agreed that nothing in this Memorandum of Lease or in the Lease contained shall be construed as creating any liability on said Trustee personally to pay any indebtedness accruing hereunder or thereunder, or to perform any covenants, either expressed or implied, in the said Lease or herein contained (all such liability, if any, herein being expressly waived by the Tenant and by every person now or hereafter claiming any right or security thereunder or hereunder) and insofar as said Trustee is concerned, the owner of any indebtedness or right accruing under the Lease or hereunder shall look solely to the assets of the trust, the Building and the Land f or the payment or enforcement thereof, it being understood that the said Trustee merely holds legal title to the Land and has no control over management thereof or the income therefrom and has no knowledge respecting rentals, leases or other f actual matters with respect to said premises, except as represented to it by the beneficiary or beneficiaries of said trust. Trustee does not warrant, indemnify or defend title and is not responsible for any environmental damage.

Trustee Exculpation. Buyer acknowledges that all trustees, co-trustees, special trustees (or their designees) (the “Trustees”) of the Sellers that are trusts (the “Seller Trusts”), are executing this Agreement on behalf of such trusts, (b) the Trustees have executed this Agreement solely as Trustees of the applicable Seller Trusts in the exercise of the power and authority conferred upon and vested in such Trustees pursuant to the applicable Seller Trusts, and (c) nothing in this Agreement shall be construed as creating any liability on any Trustee personally to perform or pay any express or implied covenant, condition or obligation of any Seller under this Agreement, including any indemnification obligation. Buyer, on its own behalf and on behalf of the Buyer Group (i) expressly waives all such personal liabilities of the Trustees, and (ii) affirms that it will not assert in any fashion any claim personally against any Trustee.

Trustee Exculpation. The parties agree that except for fraudulent acts, willful misrepresentation or gross negligence, no trustee of Borrower shall have personal liability hereunder to Lender and any obligation of Borrower hereunder to Lender shall be satisfied solely from the assets of Borrower.

Trustee Exculpation. If this Lease is executed by a trust company, bank or other financial institution (the "Trustee") pursuant to the authority granted under a land trust agreement with such institution (the "Trust Agreement"), this Lease shall be deemed to be executed by the Trustee, not personally but as Trustee aforesaid, in the exercise of power and authority conferred upon and vested in it as such Trustee, and under the express direction of the beneficiary of the Trust Agreement to all provisions of which Trust Agreement this Lease is expressly made subject. It is expressly understood and agreed that nothing in this Lease contained shall be construed as creating any liability whatsoever against said Trustee personally or against said beneficiary and in particular, no personal liability to pay any indebtedness accruing hereunder or to perform any covenant, either express or implied, or warranty herein contained, or to keep, preserve or sequester any property of said Trust and that all personal liability of said Trustee (and said beneficiary to the extent permitted by law) of every sort, if any, is hereby expressly waived by Tenant, and by every person now or hereafter claiming any right to security hereunder; and that so far as the parties hereto are concerned, the owner of any indebtedness or liability accruing hereunder shall look solely to the trust estate from time to time subject to the provision of said Trust Agreement for the payment thereof. It is further understood and agreed that the said Trustee has no agents or employees and merely holds naked legal title to the property herein described; that said Trustee has no control over, and under this Lease assumes no responsibility for, the management or control of such property, the upkeep, inspection, maintenance or repair of such property, the collection of rents or the rental of such property, or the conduct of any business which is carried on upon such property.